Dubai: Chiller-free rental options are at the top of the mind of UAE tenants seeking a new home to move into. If the deal can be struck without having to pay a broker commission, then all the better.
At least, that’s what on their minds going by the search history. “With the tremendous amount of stock in the market, there are a number of agencies that are working with developers providing consumers with no commission structures and lucrative deals so they can attract more renters,” said Lynnette Abad, Director of Research & Data at Property Finder.
These days, there are more landlords throwing in chiller-free options as a value-add, and probably hoping that would convince the prospective tenant to go for a lower rental property. Ahead of summer, real estate sources are talking about a rise in residents shifting to new rental premises. Provided one or two of their requirements are met.
Multiple cheque options from the landlord has gone down the priority list compared to last year, indicating that residents are more certain of their job and income status.
No change at the top
Dubai Marina remains the most searched for rental destination, based on Property Finder data, and followed by the Downtown. There’s also the budget-friendly Jumeirah Village Circle and the pricey Palm. (At Dubai Marina, interestingly, there are options for 12 cheques, with a one-bedroom being listed for Dh50,000 a year, with one month thrown in for free.)
Jumeirah Village Circle has since January 2020 emerged as a favoured spot for those seeking newer properties but at more affordable entry points.
Under pressure
With rents now having dropped by more than 15 per cent in popular neighbourhoods, the most searched locations in Sharjah were Al Majaz, and followed by Al Nahda, Muwaileh, Al Taawun, and Al Khan.
Reem Island remains the most sought after rental location in Abu Dhabi, and whereto rents have been trimmed by 10 per cent or more because of new ready properties or sudden vacancies created at older buildings. Al Raha Beach and Corniche Road residential options followed, while Khalifa City and Al Khalidiya too were popular on the search charts.
