Tenants Must Pay For Smaller Homes In Dubai As Rents Increase

by Deeplata Garde
Tenants Must Pay For Smaller Homes In Dubai As Rents Increase

Finding a perfect stay at an affordable price is a significant task in Dubai. You have a plethora of attractive deals to rent a home here. But the ever-increasing rate of the rental hike isn’t slowing down. And if you are thinking about shifting to a rental home in Dubai, you better buck up. There are chances of a higher rent price in Dubai, and you don’t want to be a victim.

Rental Increase In Dubai By September 2022

Owners are raising their charges and sometimes even modifying them higher within a short period. As Dubai’s rental market turns closer to a full recovery post-pandemic, this could gain further traction in September.

Estate brokers advise occupants to proceed if they encounter a rental request they believe they can meet. Even reasonably affordable areas like Jumeirah Village Circle are becoming more expensive. Even a basic one-bedroom there now rents for about Dh53,000 vs the low Dh40,000s a year or two ago. Based on the construction, the novelty of the house, and other considerations, a two-bedroom would cost more than Dh90,000.

Desirable Locations In Dubai

As more residences and developments go past construction later this year, MBR City will draw interest. Today’s visitors to Dubai Creek Harbour tend to be youthful people and people who have only recently moved to the area. In the elevated complex, a one-bedroom flat rents for about Dh68,000. At the same time, a two-bedroom generates seeking rents of Dh102,000.

Also Read: Planning To Rent A Home In Abu Dhabi? Here’s Everything To Know!

Why The Spurt In Rental Relocation

Dubai residents are opting to move to larger units, preferably those outdoors or on balconies, at a lesser price. The main reason for this happens to be the pressing need for social distancing. The pandemic has turned the world upside down, and social distancing seems like the year’s mantra. Moving into larger units means more space and thereby better social distancing. Besides, with indoors being the new outdoors, people seem to prefer bigger units that provide more space for indoor activities.

Also Read: Rate Of Increase Of Dubai Residential Rent Is The Highest In Eight Years: Study