Dubai: Now is the time for Dubai’s residents to “scale up” from their current rental situation… if they can afford such a switch.
“Look for deals in your current building or community where you can easily scale-up without much moving hassle and with only a slight increase in price,” said Naval Vohra, CEO of Appello Real Estate. “You may be surprised what’s available for those who inquire.”
Once the COVID-19 concerns die down, landlords and tenants in Dubai are hopeful of some action taking place in the residential rental market. For many, it could mean they have to look at options because of changes in their job or financial circumstances. But there are still opportunities to go up the rental ladder.
“This is an unusual time with all sorts of unexpected transactions taking place,” said Vohra. Whether that’s trading up from a “one-bedroom apartment to a two-bedroom – or finally make the leap from apartment to villa (and garden) – now could be the time.”
Locations with the best drops
The brokerage firm cites locations such as Silicon Oasis, where rents on a one-bed is now at “a snip” for Dh38,000, Al Furjan, Al Khail Heights, and Dubai South where rates have turned even more affordable.
“If I was advising someone on finding an amazing new Dubai rental, I’d tell them to post questions on relevant Facebook groups and generally find out what the lowdown is on a certain community,” said Vohra. “The more online research you can do and the more genuine information from people on the ground, the better your chance of achieving a great relocation.”