Dubai rents seen rising by up to 24% - CBRE

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Dear friend Mr. Jitendra, i am able to get you on the coctnneion of the very social network Facebook and i'm pleased to be friend with you and reading and sharing with you. Writing has given a great feeling to me and enthusiasm too for vibrancy of life, its accidents and ups and downs. Thanks for monumental pictures and beautiful words.

Ed B

Real estate has its own micro specifics. It?s just how you market the data. People who know the region well, who have been here for a while, know the high risk and also the potential to gain a lot and to lose a lot. But you cannot predict it. Looking at how the property owners had to suffer over the past few years, I think that for main stream expats it would have been more economical to rent properties with fluctuating rental prices, than to have purchased property. We can think positive and believe we get another property boom based on whatever information, but at the same time there is as much signals on the desk indicating it can drop down again. For the mainstream expats the question is: do you want to gamble with your retirement money?

Paul King

Ignore the misguided and hallucinating crowd who believe trees grow to the sky! During the very wellcome correction of Dubai Property values (2008-2012), rents decreased from hyper-crazy to very expensive. With rents rising 25% this year in the popular near-completed communities, the Dubai property cheerleaders are enjoying a "moment in the sun".
Disregard their nonsense; they will shrivel up and decay come the spring!

Ray

I think Peter Cooper is right !
There is always a cycle in realestate and for 3/4 years there was a slow down and now its slowly but surly picking up , this is a fact.

Olga

Regardless of how the news portray Dubai, never ever I will invest there for one simple reason; 90% are expats in a region that is not too stable! Saudi Arabia for example is a much better market since the majority are locals. And 24% is not even close to reality. Just couple of days ago I read another article that rents rose by 17%!! Such articles will only lead another "fake" boom, and another market crash. I'm saying this because I have already suffered from my 55,000,000 AED investment in Dubai and I have lost almost half of the investment!

Sanjay

These articles will lead to another boom and a much quicker bust - back to the R word. Please avoid articles like these. I would love to avoid the 'R'
Thanks

James

Marina Promenade is one of the most sought after developments in the Marina and at the top end of the market. A 2 bed apartment on the lower floors, of about 1,400 sq ft used to rent for around AED 140,000 in 2009/2010. A quick look at Dubizzle now shows them renting for around AED 140,000. So where's the big increase?

Grant Holt

The answer is dont move home unless you really have to. If you move youll be hit by these whizzes in the real estate sector trying to talk up the market and the rental you pay to your landlords. Lucky I had an honest agent when it came to time to renew, who advised of the actual law. If you stay put its most likely the RERA rental calculator will work in your favour.

Remember: They cant raise your rent, even by 5% p.a unless you are 25% below the current market rent for your location, as per RERA calculator. All this agent and landlord talk you may hear about the their rights to raise by 5% or more is pure lies.

Stephen

Peter Cooper, I note your gung ho comments each time there's mention of property prices, from which it's clear which side of the fence you sit. Fair enough.

However, where do you get the temerity to address a respondent in such a manner? How dare you suggest , without having the remotest knowledge of the person, that he "enjoyed" the cheap rentals. Apart from the arrogance, what cheap rentals? Dubai just got cheaper, as it had to, from the astounding over pricing that was doomed to failure from the start.

What boom? I suggest you look more closely at the state of bank debt, struggling SMEs, the appalling lack of turnover in UAE stocks, the dearth of M & A activity. It's not doom & gloom- I acknowledge the healthy activity at the airport and in hotels but there is certainly no boom unless your guidelines arise purely from scant evidence of a few hyped price expectations on the outskirts of the city.

realiste

everything is relative Peter.

We enjoyed the applicable, rents at the time.
On today's greed chart, they were cheap.

You are quite right though as alaries will not rise but everything else will. That is Dubai as we know it from experience. Get as much as you can.

That also shifts the dynamics and makes everything even more relative. Some will stay, some will go but you can't run a country on real estate conjecture.


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