Dubai Rentals see increase in rents in the first quarter of 2014

Palm Jumeirah is the most costly community to let a 2-bedroom flat in Dubai, but the maximum boost was read by Discovery Gardens in the Q1 of 2014, in accordance with a fresh Dubai rentals report launched by Land Sterling.

Discovery Gardens found rents soaring 13 percent to Dh 90,000 per year and Dubai Business Bay rents for 2-bed components increasing by 12% each. Downtown Dubai reaches Dh 165,000 per year on common and saw a-3 percent Dubai rentals increase in the 1st quarter, compared to Q4 2013. On an average, in Global Town, a 2-bed rental went for quarter increase of 8%.

Dubai Rentals expected to follow the upward trend in 2014

Till they can be countered by adding more offers in the marketplace, according to business specialist Dubai rentals rents may continue to increase in 2014.

"I do not believe there are any chances of rents decreasing but you'll find the leasing development sluggish and this quarter we simply had a three percent boost, down from what we found throughout preceding years," stated the manager Mr. Green of CBRE Middle-East.

"We will not be anticipating to observe the exact same degree of increase that we observed in 2013 but rents will rise until enough offer comes through and I do not believe that (offer) is occurring in the brief term."

Dubai Rentals not giving much options to tenants

Due to significant and sudden increases on their leases, budget-oriented renters in Dubai should make up their heads rapidly on what their choices are. They might determine to purchase an "affordable" property in their own or mind for places where rents nonetheless have perhaps not however shot-up to amounts they may be facing today. But these choices are thinning by the week.

"The competition for cost-effective Dubai rentals and Sharjah high rises have gone upwards rather dramatically," stated David Stevens, controlling director at a real estate company.