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UAE rent rises slow to a standstill - report
by This email address is being protected from spam bots, you need Javascript enabled to view it on Monday, 12 January 2009
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Results 1 to 7 of 7
Posted on Tuesday, 13 January 2009
So long Greed!
Posted by Aj at 22:21 UAE time
I know its not fair calling landlords greedy, some of them have worked hard and played fair, while the rest were just coming with only one thought," UAE is where you get to be a Milllllllionaire over a night" ! .. well .. I remember 7 months ago i was begging some sales agents to find me something that match my limited budget and they were talking to me like i was some kinda of dog! and now after the hot shots fancy show-off tenants left, they are now as nice and as "helpful" as any person can be!
Its sad, but I flash my biggest smile everytime i log in and check prices!!
to tenants: hold off it will still go down
to landlords: with you getting stuck with service charges and having to secure some fat installment, i beileve its about time you review your asking price!
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Posted on Monday, 12 January 2009
rents in dubai
Posted by tony at 19:54 UAE time
Some of us landlords are not greedy as Michael puts it, we are stuck with extortionate maintenace fees being charged and very high margins being charge on our mortgages! thats what makes the rents high. Lenders are charging 9% and above although base rates are 1.5%! and for maintenance the charges on apartments can be 4 times that of villas!
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rents
Posted by johann at 18:48 UAE time
I am surprised where those guys getting their figures from, villa rents rising by 8% in the last quarter ????, where do those guys live, rents are dropping and will drop much further mister expert, its long overdue, as the saying goes, what goes around comes around, "happy days" ahead for the greedy land lords and their willing lap dogs of real estate agents.
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Job losses
Posted by Dustop at 17:24 UAE time
Yes there are job losses but lets look at the big picture here. What overall percentage of those working in Dubai have lost their jobs? The percentage you will find is very insignificant and therefore will not have too much an effect on rental prices. Developments being postponed/cancelled will in effect cause another lack of housing which would slow any drop in rental prices. People seem to forget that the whole world is in a economic crisis right now when all calms down, the gulf states will be the first to pick themselves back up again. Watch this space!
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Rents are Indeed Dropping
Posted by Glodny Krolik at 13:47 UAE time
My eyes were set on flats in one of Dubai's Communities as it rose from 90k to 115k within 4 months.
Guess what! Many now are back to 90k and some of the owners/ agents are making a distress call for those flats.
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Rents In Dubai.
Posted by Anwar Karakulangara at 13:02 UAE time
Hi All,
Yes, the rents are dropping, but from where to where??
eg. 2 B/R, living, 2-3Bath, Kitchen with basic facilities was costing 130K in Abu Hail/Ghusais in 2008 - now Renting at 120K!
So you think 120K is a fair deal?
I feel, the rent should be brought back to an affordable level, what PEOPLE can afford to pay from their SALARIES. When I say PEOPLE, people who are middle income level (8-12K) bracket eg. Sales Executive, Jr. Engineer, Computer Programmer, Analysts, Jr. Managers, Clerical/Accounts Staff Govt/Semi Govt Sector ....etc. Then only we can call it a SUSTAINABLE level.
Rgds, Anwar
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rents are dropping
Posted by michael at 09:03 UAE time
rents are dropping and they will drop much more significantly as mounting job losses force people to evacuate and additional supply comes onto the market in Q1 +Q2.
The greedy landlords will finally have what's coming to them...
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