dubizzle Property, the UAE-based real estate platform, has revealed that nearly two thirds (62 percent) of users have successfully negotiated a rent decrease in the last year.
In a poll of over 1,400 on the dubizzle platform in November, more than 900 users said they were currently renting property in the UAE.
For those renting properties, 18 percent said they negotiated a decrease of more than 15 percent of their annual rent in the last year, with 7 percent negotiating a 10-15 percent decrease, 18 percent negotiating a 5-10 percent decrease, and 19 percent negotiating a decrease of less than 5 percent.
Survey results also revealed that UAE residents use several tools to increase their bargaining power with their landlords, with over a third citing online platforms like the Dubai Land Department calculator as a means to compare similar property prices to negotiate a decrease.
Another 19 percent of respondents cited reducing the number of rental cheques as a tool for negotiation, while 14 percent said maintenance and chiller fees were put forward for negotiation.
“With the UAE real estate becoming more affordable, property-seekers and tenants have more bargaining power to ensure they are getting an accurate market price for their properties,” said Samer Abdin, general Manager, dubizzle Property.
“When making the important decision about where to live, we encourage users to do their research to ensure they are getting a competitive rental agreement. As the UAE moves further in favor of tenants and, it is becoming a more competitive and attractive place to live,” added Abdin.
Of the over 1,400 users surveyed on the dubizzle Property platform, over half (53 percent) of those who are renting are currently in a 1-2-bedroom property, with 28 percent residing in a studio apartment, 15 percent in a 3-4 bedroom and just 3 percent in a 5+ bedroom property.For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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