Property News: Renting

UAE residents spend more time researching, looking through property listings and viewing homes than people in nine other countries, according to a new survey from HSBC.

The survey, conducted by Europe’s biggest bank by assets in November and December of last year, polled 11,932 adults aged 21 and over in the US, Canada, Mexico, France, the UK, Australia, Malaysia, Singapore, Taiwan and the UAE, which included 1,058 participants.

People in the UAE spend an average of 6.6 hours per week “window shopping” … Read more ›

For the last two weeks, Dubai resident Melanie Swan has been looking for a home to rent. She has a clear idea about what she wants: A three-bedroom villa in a quiet and peaceful community, preferably in the Ranches or the areas around it. Interestingly, her search for her dream home has thrown up challenges along the way – from fake listings to colluding agents, to time wasted by landlords who have listed their properties with multiple brokers, creating a … Read more ›

Abu Dhabi’s government has made changes to real estate laws allowing foreigners to own freehold property in designated zones to increase foreign direct investment and boost the economy.

“The modernisation of the real estate law reflects the government vision to support and develop the business environment in Abu Dhabi, along with the development of investor services and procedures,” said Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.

Until the changes, ownership of property … Read more ›

The softening rental market in Abu Dhabi has granted its tenants more bargaining powers. House prices are now more aligned with salaries and housing allowances and landlords are being flexible in terms of a number of cheques they are willing to accept. “We believe that the market is stabilizing for tenants in Abu Dhabi,” says Kika Pavese, General Manager, MD Real Estate. Sameer Barakat, Executive Director, Provis also agrees that the higher level of availability of properties is attracting tenants … Read more ›

Abu Dhabi’s drive to accelerate its economic growth will come under the banner of Tomorrow 2021, the Crown Prince revealed on Sunday, in what marks the culmination of a summer of reforms aimed at preparing the emirate for a more prosperous future.

Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, said the plan includes “50 initiatives that reflect the priorities of citizens, residents and investors”. The move is part of an action … Read more ›

Startups have taken over the world at large and the UAE too follows this trend, where home-grown startups and international players are luring customers with innovative technologies and unique concepts. To stand out in this extremely competitive crowd and attract investors from across the world, requires a combination of innovation, commitment to excellence and a steady growth in revenue. Bayut exemplifies these qualities and has already established itself as a unique and reliable entity in the UAE property market. The recent … Read more ›