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?!
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?!
posted by desertblog at 6:05 pm
15 Comments:
thats 20% increase according the government here!
and fully acceptable according to some people. Can’t wait until the inevitable happens and the whole real estate business will crash here.
May 2004
2br, Central AC/ maktoum street - Dhs 35K
May 2005 (Renewal)
2br, Central AC/ maktoum street - Dhs 70K
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 !
I'm going to have a heart attack.
I'm going to have a heart attack.
Its a conspiracy
Thigs will get back to normal in like.....2 years time!!!
Can you wait?
2 years, how kind of you, will the rent be Dhs 300,000 by then?
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!
Rgds,
"HEADLINES"
250,000 residents of Dubai march through the streets in protest of outrageous rent hikes.
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.
The real estate services play a crucial role here and you can make a contact to them via online resources as well because this medium is very common these days and the major services do have their online presence. So you can contact them for Dubai apartment rent and make your advanced booking for other services as well like rent a car.
Wonderful, what a blog it is! This webpage provides useful data to us, keep it up.
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