Dubai Property Rents See A Massive Shift For The Better

Things are changing quickly in the Dubai rental market at the present time. Dubai had traditionally seen renters gather around certain areas and developments; in what were the most sought after and in demand properties to rent a home. Within close proximity to Dubai Media and Internet City, areas such as The Greens for apartments, and The Meadows and The Springs for villas proved very poplar with Dubai workers and families. But the shake up in the rental market has also seen a noticeable change in where Dubai tenants are choose to rent apartments and villas. The falling property prices and with the introduction of the Dubai Real Estate Regulatory Agencies (RERA) Rental Index, buyers now have a wider selection of properties and at all at much lower prices than were previously imaginable. Whilst The Springs still remains top dog as to where renters are looking for a home, recently Dubai has witnessed big demand for apartment rentals in developments such as Discovery Gardens and The Lake development. The traditional renting ground of Jumeirah still remains popular with the likes of Dubai Marina and Jumeirah Beach Residence, but renters are certainly looking beyond the area now when they look to rent a home and there are certainly some discounts to be found.

With rental prices starting to see large falls, and with Tenants starting to see a switch in power away from Landlords to themselves, the dynamics of the market are starting to shift. The world economic crisis has hit Dubai residents hard; and as a result Landlords have a need to get tenants into their homes quick in order to obtain much needed cash in these difficult times and or to help make mortgage repayments. All of which spells good news for Dubai renters! Whereas previously they would have been expected to hand over a years worth of rent before moving in, landlords now cant afford an empty property, so are being much more flexible with regards to payment schedules, and monthly payment is becoming much more frequent. Some are now going as far as to say Dubai rental prices are on a par with its much cheaper neighbor Sharjah! Whilst this may not quite be the case, if things continue as they are, it won’t be long before this holds to be true.

If you are looking to either rent or buy we have some amazing Dubai distressed property sales on offer or we can even help sell Dubai property for you!
 

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