It has reported an increase in price-conscious client enquiries for quality, affordable accommodation within the capital. The company is now looking to tap growing demand from professionals in the capital who opt to travel to Dubai due to the availability of better housing facilities at lower rentals.
“Rental rates are a function of supply and demand. The more units there are, the lower the rental rates will be. It does not matter how good the building location is or how well it has been designed. In the end, the market will determine the rental rates of the properties coming on line,” says Thomas W R Bunker, investment sales consultant with Better Homes. A number of Abu Dhabi residential projects are in the pipeline, and once released, it is expected to give clients a variety of offers to rent. “We will start to see more landlords competitively price their property,” says Loshini Lawrence, operations manager, Better Homes Abu Dhabi.
Better Homes is banking on the idea that if the properties such as those in Al Raha Beach and Marina Square are comparable to the stock in Dubai Marina or in nearby areas, the rental rates will have to reflect the current going rates.
dthomas@alnisrmedia.com
