Falling rents gives opportunity to expats as well locals from neighboring cities to have better standard of living at reasonable rates.
Dubai, UAE- Sept 21, 2010 – Dubai is recognized as the commercial and tourism capital of the UAE and is globally regarded as one of the most sophisticated, futuristic and a cosmopolitan city in the world. At one point of time we use to think living in Dubai, is it quite possible? However, now it’s the shining times for expats as well locals from neighboring cities to settle down in Dubai due to the sharp fall of rentals in Dubai.
According to a global research, a dizzying rent decline in Dubai across all areas and sizes makes Dubai as one of the most affordable cities in the world. Rentals in Dubai have come down by sizable amounts and this is an opportune time for leasing property. In the Palm Jumeirah rents have dropped by 6%, at the Jumeirah Towers by 10% and at less up market places like the International City, rents have declined by a whopping 22%. This trend is also being reflected in commercial properties in Dubai. At the Big Bay property rentals have dropped by 8% while at the Dubai Silicon Oasis rentals have dropped by 20%. The Burj Dubai that is currently one of the most recognizable buildings in the world has 9 freehold residential tower blocks offering one, two and three bed roomed options at affordable rates. Luxury apartments and penthouses with all modern amenities and state of the art technology are all available at reasonable rates. Rents are falling irrespective of quality of property or location of property. Even prestigious up market areas have not been spared. These falling rents make it more viable to rent a house rather than buying a house.
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Dubai, UAE
Tel: 00971 (0) 44 327 866
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