The UAE Property Market – Dubai Real Estate for Rent


Regardless of whether you are interested in Dubai real estate for rent or houses for sale in the region, Zawaya Property, a Dubai-based real estate agency, can provide you with the necessary information and guidance to ensure you are able to make well-informed decisions regarding buying or renting property in the area.

Renting Property

 For many expats in Dubai, the subject of house rents is a common one, as a high percentage of expats choose to rent rather than buy property during their time living and working abroad.  Whilst owning a house may be a great asset, for many ex-pats on short-term contracts the risk of fluctuations in the property market may be simply too great. This leads many to make the decision to rent, even thought they recognise the negative aspects of renting against owning a home in the longer term.

Rental Price Negotiations

 For most people, the critical aspect when renting a property is the level of the rent. Rental rates in Dubai have been very stable for the past few years and some rents have even dropped a little. This means that as rental contracts come up for re-negotiation, in many cases landlords will be looking to increase rents slightly to start the process of bringing them back up to the previous values. They are also more negotiable in terms of the number of payments due each year. Historically, landlords in Dubai took one cheque for the annual rent. Nowadays, four quarterly cheques is the norm, and sometimes even monthly payments are negotiable, as in other developed real estate markets in Europe or the US.

Dubai vs. Abu Dhabi

 Comparing the markets in Dubai and Abu Dhabi, it would appear that Abu Dhabi lags behind Dubai in terms of market performance. Added to this, Abu Dhabi also reintroduced the 5% rental increase cap at the end of 2016. The two areas also have different dynamics in terms of their respective property markets. Dubai tends to have been impacted more by the recent stagnation in economic growth in the region, by redundancies and weak jobs growth. Abu Dhabi tends to have been impacted more by the low levels of public spending, low oil prices and an abundant new supply of property on to the market.

Increasing Stability

 The general opinion on the outlook for the property market in Dubai for 2017 is one of increasing stability. This will be reflected in both property values and rental values. For most

expats this will again bring into focus the relative pros and cons of renting versus buying. If you are interested in buying or renting property in Dubai, please contact Zawaya Property.

Tags: renting property in Dubai, Dubai real estate for rent, houses for sale 


Comments

Post a Comment

Popular posts from this blog

Dubai Homes for Sale and Rent Prices Continue to Decline, Will You Wait a Little Longer Before You Invest?

Image
2017 brought about a huge drop in property and  Dubai homes for sale  and rent prices with a fall of up to 5  10%. Experts believe this drop will continue to decline until the World Expo 2020 arrives, where a gradual increase in prices is predicted. Real estate experts don’t know how much these prices will rise but they remain hopeful since the industry is not seeing its best in recent years. The Steady Decline in Real Estate Properties The decrease in prices of property in the global city of Dubai is making the real estate industry feel its worst. Experts believe this drop boils down to two major reasons: ·  Oversupply ·  VAT Impact In 2017, developers went on a project spree with several thousands of units expected to be released to the market by 2020. This supply shows an average annual increase of 8% where it greatly swamps the average annual growth of Dubai’s population which is only 3%. This figures show a lesser market absorption rate that will ultimately
Read more

Luxury Underwater Mansions in Dubai – Unique Homes for Unique People

Image
The floating, half-submerged Mansions in Dubai are truly a sight to behold. Officially unveiled in 2015 during the Dubai International Boat Show and completed at the end of 2016. The first group of these one of a kind, iconic and patented dwellings were called the Floating Seahorse villas. It was named after the rare and endangered marine creatures. Each of these exclusive, marine-styled, holiday home villa have three levels. The bottom level where the master bedroom and a bathroom was at were totally submerged. The submerged part provided a breath-taking panoramic views of the Persian Gulf under the sea surrounded by coral reef and aquatic life. The second part at sea level is for the kitchen and dining area with a sun deck. The upper deck level has a magnificent location for alfresco dining and relaxation, an informal bed, mini bar, kitchenette, and a very classy Jacuzzi with a glass bottom. The upper deck can even transform into a winter bedroom. Due to it’s out of this world
Read more

Zawaya Realty LLC: Your Reliable Real Estate Partner in Buying, Selling or Leasing of Real Estate Houses

Image
The ongoing development of Dubai, the largest city amongst the emirates, points to a flourishing business in acquiring, selling or renting of real estate houses . The prospering real estate market will continue to see annual investment growth leading to the upcoming Expo in 2020. Market brokers, investors and real estate companies are all noticing a steady increase in profit every year. It is now a smart move to align or partner yourself with established real estate companies in the succeeding years. One particular, highly reliable real estate company based in Dubai are looking for partners seeking better return on investment. This well-trusted company made a name for itself by achieving 98% property occupancy. Residential or commercial property? This company has it all and does it all. Meet Zawaya Realty LLC also known as Zawaya Property. Know More about Your Future Partner Zawaya’s company strategy is providing unified property management solutions brought by their vast
Read more