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EWmums

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ewmoda

Villa Rental Trend 2010-2011

38

Posts

EW NEWBIE

Latest post on 20 October 2011 - 20:00

Does anyone know what the average rental increase/decrease has been for villa's in Dubai over the last year? I thought I saw something in the paper the other week that rentals are continuing to fall, but can't find the article now.

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spongemonkey980

4329

Posts

EW MASTER

Latest post on 21 October 2011 - 16:58

On a further note, I know so many people who are changing where/what they live in according to times and situations eg kids no longer here, they are renting out their own place if they own and it is bigger and renting elsewhere smaller themselves. So many people as well planning their exit strategy - trying to sell NOW in advance of their actual leaving time be it next year or even further ahead and planning on renting when that happens. While some (usually young families) are upgrading floor footage eg by moving out to places like the Villa , others are downsizing according to their needs and prefer to stay in convenient locations. Less companies are paying accommodation per se or have a cap or it is inbuilt into the package so people are less likely to pay their "own" money for rent. All different situations but all affecting the choice and what people are willing to pay and put up with. I agree that in general there is less panic than there was before - even though agents still try to promote that feeling!

STILLadviceseek...

425

Posts

EW EXPLORER

Latest post on 21 October 2011 - 16:04

Totally agree with CP. I would like to add however even places like JVT, JVC, The Villa and Falcon City have gone up since 2009/2010, at least in terms of advertised prices.

314

Posts

EW EXPLORER

Latest post on 21 October 2011 - 15:36

I just rented in Jum....looked at alot in Jum and Um seq.... alot was well over 200+ and needed alot alot of TLC. ? seems high to me, but i know you can say it was much higher before? seems its still very expensive......also agents fee? they did nothing. horrible.

2043

Posts

EW EXPERT

Latest post on 21 October 2011 - 08:36

I have seen prices going up in certain areas - Arabian Ranches, The Meadows, Victory Heights and The Lakes. However these are all quite established areas now and people know what they are getting for their money. I have been looking for a 4 bed Alvorada in AR for the last few weeks and they are like hens teeth! Areas like Jumeirah and Umm Suqeim remain bouyant with good villas going fast. However in JVT and JVC, The Villa and other 'new' areas the prices are still competitive as there is more supply than demand. I think the market has stabilized and people are being more selective, villas in poor condition will no longer rent (unlike in the old days when people took anything at almost any price just to have a roof over their heads), it will be good when landlords keep their properties well maintained, updated and renovate as they need it - this is still not the case. We are also still miles away from the normal monthly rents that most of us from the western world know and prefer, signing up for 12 months with the option of paying 2 months rent to 'get out of the contract' is expensive and not very realistic in this city these days. Also I still think it's wrong that the tenant bears all the commission cost and the landlord none - if these were shared it would help and soften the blow for new tenants.

spongemonkey980

4329

Posts

EW MASTER

Latest post on 20 October 2011 - 22:59

so true..you can get a huge villa out at the Villa or South Barsha for less than 150k as people are desperate to rent these out..on the other hand, villas in more central areas eg the Lakes are still holding prices..new villas will hold price better than these older houses with crazy bathrooms and huge kitchens with nothing in them..however I do believe there is still a downward trend on all..the crazy rentals of 2 years ago are gone!

1184

Posts

EW OLDHAND

Latest post on 20 October 2011 - 22:28

really depends on the area.

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