Q We live in The Greens and want to upgrade to a good building in Dubai Marina. My only concern is that rents will start to hike again year-to-year, as they have over the past four years I have lived in Dubai. Do you think rents in the Marina will continue to rise over the next one or two years? If so, where else should we consider?
A The rents in Dubai Marina depend on end-user demand and property supply. At the moment there are buildings being completed which will add supply to the Marina area. Demand for units in the Marina has always been strong, but over the last two years, in line with the rental decline and reduced demand all over Dubai, Marina rentals have also fallen.
Rental rates should actually be stable over the next year or two as the economy slowly starts to recover.
There is also a Rera (Real Estate and Regulatory Agency) rental index and rent calculator which landlords must follow with regards to rent increases. Tenants are now able to negotiate better at the time of renewal as landlords would rather keep their existing tenant than have the property empty and start the search process all over again.
Dubai Marina is a great community which offers a fantastic waterfront and beach lifestyle, and it is now more affordable than ever. The only other areas nearby that offers a community feel for apartment living would be The Greens and The Views.
Q My wife and I are looking for a two-bedroom villa to rent. I've noticed that there are many at Jumeirah Village Triangle for lease. I'm wondering whether the development is properly maintained and has adequate security and other services?
A Jumeirah Village Triangle is actually a very promising up-and-coming community in the New Dubai area. The villas are spacious with a high quality finish and are great value for money. The individual properties are maintained by the respective landlords, and the development is maintained by master developer Nakheel. There is proper security as it is a gated community. On completion in 2013, the Jumeirah Village area will have a projected population of 300,000, making the development city-like in scale while retaining a community feel. This will be achieved though a balance of residential and commercial buildings, community amenities like mosques and schools, integrated traffic and transport routes, and access to open spaces - including parks, green spaces and water features.
Q I'm new to Dubai and am looking for a villa in The Springs, The Lakes or The Meadows. The rents are compatible with my budget but I'm unsure about the extras. One real estate agent mentioned maintenance charges in addition to the rent. Is this normal?
A For residential villas, the tenant is responsible for minor maintenance, Dewa, utility bills, housing fees and upkeep of the garden while the landlord is responsible for all property service charges and major maintenance. The landlord may purchase an annual maintenance contract from a facilities management company which covers all major maintenance. So instead of calling the landlord the tenant calls the maintenance company. These major maintenance charges cannot be passed on to the tenant.
