Friday, February 03, 2006

The grim reality of Dubai rents

This is just to show you just exactly how crazy rents have become.

May 2004
4 bedrooms, family room, 4000sq feet, no lake/park view, landscaped garden in The Meadows.
Rent: Dhs120,000 per year

February 2006
4 bedrooms, family room, 4000 sq feet, no lake/park view, landscaped garden in The Meadows.
Rent: Dhs205,000 per year

Where is the sense in all of this?!


Blogger Cloggy said...

thats 20% increase according the government here!

8:28 pm GTS  
Blogger Cloggy said...

and fully acceptable according to some people. Can’t wait until the inevitable happens and the whole real estate business will crash here.

8:35 pm GTS  
Blogger moryarti said...

May 2004
2br, Central AC/ maktoum street - Dhs 35K

May 2005 (Renewal)
2br, Central AC/ maktoum street - Dhs 70K

8:43 pm GTS  
Anonymous Anonymous said...

there is no sense in the property market here..

it's all about greed, greed and you know what else.. GREED !

oh and by the way, there is a 15% ceiling on rental increases ok...

yes there is... of course !!!

does'nt seem like it??

well tough luck !

12:15 pm GTS  
Anonymous Anonymous said...

I'm going to have a heart attack.

3:26 pm GTS  
Anonymous Anonymous said...

I'm going to have a heart attack.

3:27 pm GTS  
Blogger One Nine Seven One said...

Its a conspiracy

7:53 pm GTS  
Anonymous Anonymous said...

Thigs will get back to normal in like.....2 years time!!!

Can you wait?

4:04 pm GTS  
Blogger desertblog said...

2 years, how kind of you, will the rent be Dhs 300,000 by then?

9:22 am GTS  
Anonymous Anonymous said...

You're all referring to rent increases in the space of a year...i'm a property analyst with a global consultancy firm and i'm willing to bet that the market slump that's coming, (and it is coming) is now about 6 to 8 month away.

Landlords smell it, and they're milking the cow for all they can now.

A Greens studio apartment, early February 2006, AED 48k per annum.

Greens studio apartment, late February 2006, (same building, same view, same floor), AED 55k per annum, when pushed the landlord was willing to accept AED 54k, how generous!


4:22 pm GTS  
Anonymous Anonymous said...

250,000 residents of Dubai march through the streets in protest of outrageous rent hikes.

1:25 am GTS  
Anonymous Dubai Property said...

Reality of Dubai rents is very typical to understand. Grim! I will give you 50 marks because you are very close to actual reason of Dubai rental decline.

11:45 am GTS  
Anonymous Abu Dhabi Directory said...

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12:53 am GTS  
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9:49 pm GTS  

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