Choosing a place you will call home is not an easy task. The search usually starts with setting a budget and deciding on a margin by which you are willing to go above. Next, choosing a location is important, as your home may have to be in proximity of your child’s school or your own workplace. Then deciding on a number of rooms you need is another important factor. But aside from all those things, you also need to feel comfortable in your new home, and this feeling is often non-quantifiable and intuitive.
If you are looking to settle down, or just change your accommodation, the choice of properties here will not leave any need or imagination unfulfilled. Whatever you are currently looking for, you will be able to find an accommodation unit to suit your needs on the broad real estate sector of the Emirate of Dubai.
Rental expenses are one of the biggest expenses, when living here. But they do not necessarily have to break the bank. In order to find a cheap area to rent a place, there are some tricks. For example, you can live in an old building in the centre close to transport links for more money than in a new shiny development on the outskirts. Therefore, location is an important factor. Areas like the Dubai Outsource Zone and the International City offer the cheapest rents in town.
If, on the other hand, you are looking to take in the full level of luxury, which the Emirate undoubtedly has to offer, you will probably want to look at villas with your own pool or even tract of beach, or penthouses overlooking the city’s amazing skyline. Either way, the landscape of Dubai properties for rent offers endless opportunities.
As anything these days, any search for a residential unit will undoubtedly start on the internet, and we at Yzer Property are looking forward in assisting you. Our listings mirror the multifaceted nature of the local rentals market. Whatever your wishes, on our website you can find news and updates of the local realty market and tailor your search to your exact needs. We are happy to welcome you on our portal.
The relatively low price level currently present on the Dubai long-term rental market is something that has been haunting landlords and property developers for several years alike, but has kept tenants very happy.
The rental market is currently at the bottom of an economic cycle, which means that residential units are at their most affordable historical level. This can be explained by several factors. The global economic crash of 2008 has not gone unnoticed in the UAE. In 2009, Dubai has experienced a property crash, which sent a shock wave through local house prices. Many commentators have spoken of a real property slump.
Demand came down crumbling in the aftermath of the global economic downturn, as much of which was made up of speculative investors seeking to store value in the Emirate’s residential property. Yet during the early 2000s, there was a property boom, in which an extensive number of projects had been commissioned. Naturally, once begun, a real estate building project cannot be halted so easily, which has led to a glut in rental properties available on the market.
The rental prices have been in a downward spiral ever since, also supported by a falling price of crude oil, which makes up the larger part of the entire country’s exports portfolio. This year’s new supply of both flats and villas is estimated to be at 25 thousand units and will enhance the already abundant supply.
Through prospective tenants need to be careful and not hold out for much longer. Latest statistics show that there has been renewed investor interest. Two-thirds of all available apartments have seen an increase in their rental value in the second quarter of 2017, when compared to the first quarter. Dubai is receiving increased attention as global economic activity is reviving and as a regional economic hub, it is attracting new residents. Interestingly enough, the most luxurious areas, such as the Marina and Jumeirah Islands, are the ones that are continuing to see a decline.