Dubai Rents Soar!

The property boom in Dubai continues to propel the costs of renting accommodation through the roof, and buying freehold property is still a wise move if you want to own a home in Dubai or anywhere else in the Middle East.  It was recently announced that Dubai now has the tenth highest office rents in the world, putting it ahead of places like New York in the listings, meaning that commercial space comes at a very high premium.  With news like this, it is easy to see that the current property boom or commercial and residential property is not quite ready to slow down, and property investors are likely to see prices inflate even more in the future.

The Dubai property boom has led to an increase in demand for freehold property as a solution to the high costs of renting.  Recent years have really taken a toll on all residents in the country that feel the pressure from renting both living space and office space due to excessive rises in costs.  With landlords increasing rents beyond belief, and no protection for new renters, the option of owning a property is even more appealing.  While owning a property has seen increases as well, the thought of paying out money for a home that is yours has more benefits than paying out the same amount or in most cases a larger amount in rent that you will never get back.

Property projects are appearing on the market at rapid pace now in the wake of some heavy delays in the construction of some developments.  Now that the speed of construction is back on track, and new projects continue to be launched, including the latest Jumeirah Golf Estates, which have a large appeal to investors with families; people are giving a larger amount of consideration to buying freehold property, both residential and commercial.

While the future of the property market is not accurately predictable, market insiders now seem convinced that the property boom is far from over.   With projects such as Downtown Burj Dubai, Jumeirah Village and of course the final touches on the Palm Jumeirah taking place over the next year or so, expect the attention on Dubai’s property to extend beyond people’s expectations.

Why rent Dubai real estate when you can buy today?
 

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