The UAE property sector is currently a seller’s market, with prices continuing to rise higher on investor sentiment, efficient handling of the Covid-19 pandemic and the government’s fiscal and monetary stimulus measures, real estate experts say.
However, if owners are planning to sell their properties, they should remember that certain renovations could reduce the value of the house rather than add to it, according to experts.
Average residential property prices rose by 11.3 per cent in the first quarter of this year, real estate consultancy CBRE said in its market snapshot. Average apartment prices were up by 10 per cent and villa prices by 20.2 per cent.
“While the original recovery of demand seen at the start of this price cycle was driven by existing residents taking advantage of value in the market, recent demand has largely been driven by the influx of new residents to Dubai,” real estate broker Better Homes said in a recent report.
“Overseas investors have also continued to drive demand as Dubai has increasingly become considered a safe-haven destination in the face of Covid-19, tax rises and global instability. Visa reform, social reforms and a general open-arms approach to new residents are in stark contrast to many traditional expat cities around the world and it is likely that this recent influx will continue for some time while Covid-19 continues to cause serious issues in the Far East, and tax rises and geopolitics continue to loom large in Europe.”
Here, we talk to property experts about the top five renovations that could harm the value of your property. Make sure you avoid them if you are planning to list your property for sale.
Personalising your home
Any upgrades that are overly personalised can hurt the value of your home, says Paul Christodoulou, chief executive of Aqua Properties.
“Things like wallpapers and tiling can be very taste specific. The same goes for other home details such as wall carvings, carpeting and expensive painting jobs,” he says.
Heavily stylised properties may not always be to everyone’s taste. This could limit the number of interested buyers when it comes to selling your property, says Richard Waind, group managing director of Better Homes.
“The more permanent or expensive it is to reverse a renovation, the more it can impact buyers,” he says.
Wallpaper and brightly coloured walls can be a real turn-off for prospective buyers, says Lewis Allsopp, chief executive of Dubai broker Allsopp & Allsopp. In some cases, they can’t see past the decor to imagine the home as their own, he says.
If you’re planning to sell your home, go with traditional white tile flooring and simple, light-coloured walls, Mr Christodoulou suggests.
Converting rooms
Combining or converting bedrooms can be a costly mistake. As a general rule, properties with more liveable rooms and bedrooms generally sell for more, Mr Waind says.
Therefore, knocking through bedrooms to make larger rooms, but reducing the number of actual bedrooms could affect the price, he says.
“When owners start eliminating bedroom space, they’ve completely changed the comparable value of their home in the neighbourhood,” Mr Allsopp says.
Brokers pick top three areas to rent in Dubai – in pictures
While combining small bedrooms to create a bigger room or converting a room for office space can be good for couples, it may not be beneficial if you don’t plan on staying long term, Mr Christodoulou says.
“Each bedroom adds value to your home. Imagine if your potential buyer has children, they would want separate rooms for them even if it’s small,” he says.
Unapproved extensions
Any house renovations that have not been granted the required no-objection certificates (NoC) and approvals can hinder sales and affect desired selling prices, says Better Homes’ Mr Waind.
“Buyers may look to reduce the buying price if they find renovations do not have approval. In many cases, the renovations will need to be restored to the original state before NoC for transfer is granted,” he says.
Also, if the home owner adds an extension that is low quality, this can sometimes have the opposite effect and can look like an annex and an eye-sore when looking at the property from the outside, Mr Allsopp says.
“If the renovations diminished your place being Vaastu-compliant, it will not only decrease the number of potential buyers, but you also need to spend again to restore its original orientation and design symmetry,” Mr Christodoulou says.
Landscaping
Although it is exciting to have a lavish garden, it is vital to do your research before planting, Aqua Properties’ Mr Christodoulou says.
“Find out what type of plant will not ruin your home in the long run. There have been reports of trees growing big roots too quickly that crawl up, ruining tiles, flooring, interlocks and pools,” he says.
“Not only will it cost you to repair [the damage], but the tree removal can also set you back by a hefty sum. Some trees also tend to shed more leaves than others. This can make your landscape messy and hard to maintain.”
Bathroom and kitchen renovation
Removing a bathtub or wardrobe space can be detrimental to the value of a home, Mr Allsopp says.
“Some buyers like to have the option of a fully functional bathroom and nearly everyone has storage space at the top of their ‘essential property attributes’ list. Taking this away to extend the space in a room or to extend a bathroom can turn potential buyers away,” he says.
Similarly, although it might be tempting for owners to convert an open kitchen to a closed one, this could affect the property’s resale value, Mr Christodoulou says.
“When remodelling, try to concentrate on areas of the kitchen that are outdated or worn out. Also, buy mid-range appliances instead of more expensive high-end alternatives.”
'THE WORST THING YOU CAN EAT'
Trans fat is typically found in fried and baked goods, but you may be consuming more than you think.
Powdered coffee creamer, microwave popcorn and virtually anything processed with a crust is likely to contain it, as this guide from Mayo Clinic outlines:
Baked goods - Most cakes, cookies, pie crusts and crackers contain shortening, which is usually made from partially hydrogenated vegetable oil. Ready-made frosting is another source of trans fat.
Snacks - Potato, corn and tortilla chips often contain trans fat. And while popcorn can be a healthy snack, many types of packaged or microwave popcorn use trans fat to help cook or flavour the popcorn.
Fried food - Foods that require deep frying — french fries, doughnuts and fried chicken — can contain trans fat from the oil used in the cooking process.
Refrigerator dough - Products such as canned biscuits and cinnamon rolls often contain trans fat, as do frozen pizza crusts.
Creamer and margarine - Nondairy coffee creamer and stick margarines also may contain partially hydrogenated vegetable oils.
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
UAE currency: the story behind the money in your pockets
THE SPECS
Engine: 1.5-litre, four-cylinder turbo
Transmission: seven-speed dual clutch automatic
Power: 169bhp
Torque: 250Nm
Price: Dh54,500
On sale: now
TOURNAMENT INFO
Fixtures
Sunday January 5 - Oman v UAE
Monday January 6 - UAE v Namibia
Wednesday January 8 - Oman v Namibia
Thursday January 9 - Oman v UAE
Saturday January 11 - UAE v Namibia
Sunday January 12 – Oman v Namibia
UAE squad
Ahmed Raza (captain), Rohan Mustafa, Mohammed Usman, CP Rizwan, Waheed Ahmed, Zawar Farid, Darius D’Silva, Karthik Meiyappan, Jonathan Figy, Vriitya Aravind, Zahoor Khan, Junaid Siddique, Basil Hameed, Chirag Suri
Call of Duty: Black Ops 6
Developer: Treyarch, Raven Software
Publisher: Activision
Console: PlayStation 4 & 5, Windows, Xbox One & Series X/S
Rating: 3.5/5
Profile
Company: Justmop.com
Date started: December 2015
Founders: Kerem Kuyucu and Cagatay Ozcan
Sector: Technology and home services
Based: Jumeirah Lake Towers, Dubai
Size: 55 employees and 100,000 cleaning requests a month
Funding: The company’s investors include Collective Spark, Faith Capital Holding, Oak Capital, VentureFriends, and 500 Startups.
Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
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LAST-16 FIXTURES
Sunday, January 20
3pm: Jordan v Vietnam at Al Maktoum Stadium, Dubai
6pm: Thailand v China at Hazza bin Zayed Stadium, Al Ain
9pm: Iran v Oman at Mohamed bin Zayed Stadium, Abu Dhabi
Monday, January 21
3pm: Japan v Saudi Arabia at Sharjah Stadium
6pm: Australia v Uzbekistan at Khalifa bin Zayed Stadium, Al Ain
9pm: UAE v Kyrgyzstan at Zayed Sports City Stadium, Abu Dhabi
Tuesday, January 22
5pm: South Korea v Bahrain at Rashid Stadium, Dubai
8pm: Qatar v Iraq at Al Nahyan Stadium, Abu Dhabi
Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
- Do not drive outside designated lanes
Should late investors consider cryptocurrencies?
Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.
They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.
“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.
He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.
Australia tour of Pakistan
March 4-8: First Test, Rawalpindi
March 12-16: Second Test, Karachi
March 21-25: Third Test, Lahore
March 29: First ODI, Rawalpindi
March 31: Second ODI, Rawalpindi
April 2: Third ODI, Rawalpindi
April 5: T20I, Rawalpindi
MATCH INFO
Manchester United v Brighton, Sunday, 6pm UAE
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
