There are indications that rents in Dubai may finally be leveling out after more than a year of uncertainty and a continuous slump in rents received.
While rents only increased by 1% in January this jumped to 6% in February and they are continuing to rise at a steady rate. Investors and Financial Institutions believe that this scenario is largely due to a lack of available property in some other Arab Emirates means more people are choosing Dubai as an alternative place to live.
However the market is still very unstable and there is still a large number of properties on the rental market that remain unoccupied at this stage and landlords are pulling out all the stops to rent their properties above the others.
While analysts predict that the rental sector will improve further during 2010 there are many factors to consider before coming to the conclusion that this will be an overall improvement and not just in a very small select group within the rental market sector. High quality, reasonably priced rental accommodation will fare best, location will also be paramount as many people will be commuting to other areas from their rented property access to transportation and nearby facilities will have a big impact on renting out a property.Paul Holdsworth, Staff Writer, Gulf Jobs Market News