Rents becoming increasingly affordable across the UAE

If you’re looking to make a move in the UAE, now may be your chance.

Prices have declined by 16 percent in a year on an average Dubai flat (and four percent in the last three months of 2020 alone).

Al Furjan, Dubai South, International City and JLT are where the price drops have been the most striking so if your contract’s up soon then maybe it’s time you packed up and headed to one of these delightful destinations.

It really is a renter’s market right now, and not just in Dubai. Down in Abu Dhabi there has been a 15 percent yearly fall in apartment prices and a six percent drop from one quarter to the next.

If you’ve ever dreamt of living the island life then this is the perfect opportunity as rents tumbled 18.5 percent on Al Reem during 2020, and 8.3 percent from November to December alone.

Sharjah’s estate agents and landlords have been arguably the hardest hit, according to Cavendish Maxwell’s latest UAE Property Market Report, although their friends in Ras Al Khaimah have, relatively speaking. ridden the storm.

Commenting on the report, Aditi Gouri, head of strategy and consulting at Cavendish Maxwell, remained in an upbeat mood about the market’s chances of a revival this year.

She said: “The last quarter of 2020 was an extension of changes that were witnessed during the year, may it be upgrading living spaces or adopting flexible working from homes and offices.

“We saw the prices and rents of more residential communities with superior offerings stabilise and even appreciate, while others continued to soften.

“In 2021, we expect more communities to display stabilisation in capital values with the successful vaccine rollout further establishing confidence in the real estate sector and the broader economy.”

For the full report visit https://cavendishmaxwell.com/download?issuuid=q4_2020_uae_property_market_report_31.01.21&utm_source=email&utm_medium=email&utm_campaign=q4_2020_market_report