Dubai and its skyrocketing rent is no secret. In fact, it is a big challenge for tenants in the city who are trying to build a life for themselves amongst some of the best amenities offered to the public. However, some experts from the real estate industry, believe that apartment trends in older buildings might become negotiable and thereby decline slightly in 2025. Here’s why they think so.
Rents Might Become Negotiable In Older Buildings
As reported in an article by Khaleej Times, it was mentioned that real estate industry executives feel that tenants might be able to negotiate the rentals of their apartments if they are residents of an old building in Dubai. Yes, this might become a reality as owners of such older buildings will have to think of offering an incentive in order to maintain a strong occupancy. This development is coming about as some areas might be seeing a strong new supply in 2025, thereby resulting in a possible decline in rent.
Dubai May See A Rise In Rent At Slower Pace In 2025
Additionally, the tenant-landlord relationship in Dubai for 2025 is expected to be dominated by factors like long-term tenancies, renovation of properties, or even more cheque payments to attract newer tenants. However, it is wrong to say that the rent won’t rise. Yes, the rent will continue to rise in 2025, but it is expected to be at a much slower speed. In the same report, the forecast mentions an increase of about 10% in 2025, along with a strong new supply.
This Might Happen In Non-Prime Location
While rent in Dubai is hardly going to see a significant decline in 2025, it might see some sort of stabilisation or maybe even a light decline in areas where there is increased supply. These will possibly be in non-prime locations where a significant number of new properties are expected to be completed.
So, if you are also looking to rent an apartment in an old building in 2025, you might just have some sort of leverage.
Cover Image Courtesy: Canva (Images are for representative purposes)
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