Dubai Property Rental News
Rental on the Down Low!!
It’s hard not to notice the change in the Dubai rental market but the question to ask is;
Is it for the better or not? You decide!
Dubai is still growing at a very fast pace with more and more properties completing and with more and more properties to choose from. In the past rental was high and demand was high, as there were far fewer options available. But now the tables have turned.
Rental Price figures are down but let’s make a positive out of a negative!!
Forget the recession and put that aside, Dubai is still building and towers are completing. Which means that rental is stabilising with certain areas dominating the market as the changes unfold. But a lot of properties are still vacant and tenants continue to be in the fortunate position of being able to negotiate with landlords on their price.
Unfortunately the same applies to the short term rental market. With less people travelling abroad and with hotels all competing against each other to attract tourists and visitors with hotel discounts and special promotions, these offers continue to drive down the short term rental price.
With rental in Dubai becoming more affordable this will entice people to return to Dubai and also existing residents of Dubai are up grading there accommodation providing themselves with a better lifestyle and quality of living.
Rental has fallen more than 50% in the last 18 months and with better price conditions and lower prices on the market the desirable areas like Palm Jumeirah, Dubai Marina and the ever changing Jumeirah Lake Towers are now becoming more affordable.
The high rental figures of yester-years are a long time in the past and the time is here to grasp the moment of today and move with the times.
Your journey starts here!!
Demand in Dubai is still here but you just need to be flexible and move with today as tomorrow may not come.
Lets start a new rental future!!
Property World Dubai encourages landlords to be flexible as we move with the current times, and we at Property World Dubai are here to work and help landlords and tenants achieve their desired realistic goal.
