Rent Prices Now vs June/July? | ExpatWoman.com
 

Rent Prices Now vs June/July?

138
Posts
EW NEWBIE
Latest post on 03 April 2016 - 14:35

Do you think rent prices will increase, decrease, or stay steady between now and June/July?

We are moving within Dubai and *might* have the flexibility to move either now (in April) or delay it 1-2 months.

I'm torn between 2 schools of thought:

1) There are more expats moving out of Dubai in early summer (end of school term) so there are more properties available. Which means more choices and able to bargain more.

2) There are more expats moving to Dubai in summer so while there are more properties opening, people are also coming to fill them. Landlords and estate agents know that and rates can stay steady or increase. Also LL can increase rent to whatever they want once a tenant vacates (right?).

What do you think about rents? What would you do if you were in this position?

154
Posts
EW NEWBIE
Latest post on 17 April 2016 - 18:24
Hi there @ ThirdCultueFamily We have wondered the same thing but keep in mind that the agents get paid on the rental price. Negotiating the price down on any desirable property is hard, as a result. I do not know if they are required by RERA (or whatever governing body licenses agents) to take your offer to the LL no matter what. They may just refuse your lower offer and not even give the LL a chance to consider it to keep their commission higher. Does anyone know what the requirement is?
138
Posts
EW NEWBIE
Latest post on 17 April 2016 - 17:27
Thanks for the input guys...looks like we are hanging on in our current place through the summer and will figure out where we'll settle down in August. I'm not sure that was the best idea but it's done now. Oh well. I will say that moving within Dubai is a lot more [strike'>difficult[/strike'> annoying than I expected it to be. Weeding through the property listings is a hassle and has me sitting in front of the computer for hours at a time.
50
Posts
EW NEWBIE
Latest post on 03 April 2016 - 15:36
Do you think rent prices will increase, decrease, or stay steady between now and June/July? We are moving within Dubai and *might* have the flexibility to move either now (in April) or delay it 1-2 months. I'm torn between 2 schools of thought: 1) There are more expats moving out of Dubai in early summer (end of school term) so there are more properties available. Which means more choices and able to bargain more. 2) There are more expats moving to Dubai in summer so while there are more properties opening, people are also coming to fill them. Landlords and estate agents know that and rates can stay steady or increase. Also LL can increase rent to whatever they want once a tenant vacates (right?). What do you think about rents? What would you do if you were in this position? Not sure about increase/decrease etc, but I know Al Wasl properties will have dozens of villas available from approx July (and possibly much earlier) as several areas have been cleared of Emirates airline families. They been extremely good property managers for the last 13 years that we've lived in one of their villas (the villa is owned by Govt of Dubai), and I would rent from them again in a heartbeat over unscrupulous private landlords! Rent is in 4 cheques, maintenance is quick and efficient etc. 3 bed in al badaa are about 170k per year which isn't bad for the location (if you can stand the horrendous traffic on Al Safa rd around City Walk!)
1430
Posts
EW OLDHAND
Latest post on 03 April 2016 - 15:00
To be really honest I don't think it will make much difference unless you are really lucky and find someone wanting to do a quick deal at either time, there are hundreds of new places coming on line, or shortly coming on line, this could also decrease the price. Although someone I know is buying and was told by their developer that they are delaying release to keep prices high and not to saturate the market so that rents will drop! (up to you if you believe that or not). From our experience, it's harder to get things done in the summer, often LLs are away so things slow down, DEWA etc can be slower, people are more frustrated because of the heat. Plus Ramadan is due to start 6 June for 30 days which will have a huge impact on getting things done. Personally I have never known of a huge fluctuation of highs and lows in rent during the time of year, we've been here 7 years - currently LLs want as much as they can possibly get from a new tenant. I would say organise yourselves as soon as you can, you will feel more settled with everything in place, you will have hurdles put in your way but given time you can easily overcome these. We have just moved we found a place really quickly and everything turned around quickly however with our previous house it took a very long slog, it was a new property and we were gazumped 2 days before moving in, found a new place at more money but was the only one in the location in our price range (just over!) then had lots of snagging issues - it was very stressful. The house we've left is priced at the rightish price, it's been on the market for rent for over 2 months and is still empty as LL won't reduce the price, not open to negotiation - lots of same villas at same price .... yet still won't reduce his price - he is not alone it appears. Good luck :-)
 
 

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