I think you are right - by the time may rolls around - ALL the rents will start dropping like a stone in the creek. I have found more and more units available now in Satwa / Bur Dubai - offering 12 checks! with more units coming on the market - the rents have to come down or remain vacany. This is only Feb - the dust hasn;t even begun to settle yet..The reasons rents havent fallen much in Bur Dubai, Deira, Sharjah etc is because of two reasons 1) People who have been laid off are trying to find a new job before they leave 2) A lot of "families" who are now unemployed will wait till their children's school year is finished (May, June) before they leave the country. I am sure many people will not waste their kid's school year and thats why they are still sticking to this place. Its funny that the rent for a one bedroom in "Ghusais" is almost the same as a one bedroom in Marina (i.e. 80k). These are weird times. It will take 3-4 months before rents reach a new scale all over the northern emirates.
Sash ........ I dont agree with your above reasons .The reasons rents havent fallen much in Bur Dubai, Deira, Sharjah etc is because of two reasons 1) People who have been laid off are trying to find a new job before they leave 2) A lot of "families" who are now unemployed will wait till their children's school year is finished (May, June) before they leave the country. I am sure many people will not waste their kid's school year and thats why they are still sticking to this place. Its funny that the rent for a one bedroom in "Ghusais" is almost the same as a one bedroom in Marina (i.e. 80k). These are weird times. It will take 3-4 months before rents reach a new scale all over the northern emirates.
Absolutely not. What I meant was New Dubai had more newer developments coming up compared to areas like Bur Dubai, Deira etc. These new developments were the first ones to drop rents as there were many vacant flats in these areas (Note how DG, Marina were the first ones to drop rents). These flats were vacant either because the fitouts were being finalized or the owner was waiting for the property prices to rise before they sell them out. After the crash, they had no choice but to rent these out at lower rents since the ask price didnt match their bid price even remotely.Sash ........ I dont agree with your above reasons .
By saying the above ,do u mean that the people living in elite locations such as Jumeirah Islands or Green Community ,haven't been sacked WHEREAS they were the first to be laid off ........... AND they are also cautious of their kid's future .
I've seen another add for aed 1m only same springs 2 bd +maid villaSprings Villas, S.P. AED 1.4M. Contact 050-9021206.
If property prices are falling down to half, ofcourse the rents too shall come down drastically.
Does anyone know where exactly is the West Parallel Road (or the dual carriageway) is being built in Springs ?Which sector of Springs will be facing the carriageway ?Springs Villas, S.P. AED 1.4M. Contact 050-9021206.
If property prices are falling down to half, ofcourse the rents too shall come down drastically.
JLT rents 30% down (Call 050-9229968 for confirmation)Come on guys this is exactly the kind of mis information which fuels the fire, makes people start to doubt themsleves and does nothing and I mean nothing but make an already bad situation much worse. Maybe the fact that the price of rental for some locations in the springs is that they are now located on what will be one of the busiest roads in Dubai equaivalent to that of Emirates or Al Khail roads!! where does the current economic situation factor into this???
