Property News: Renting

Despite a downward trend in property prices, sentiments in Dubai’s real estate sector are high owing to the recent developments in UAE-Israel relationships and pent-up demand over the last few months leading to an uptick in sales. The historic UAE-Israel peace deal was signed in Washington yesterday and this will play a positive role in attracting investments in real estate, say industry experts.

Andrew Cummings, co-founder and managing director of luxuryproperty.com says both the UAE and Israel share many synergies. The … Read more ›

Abu Dhabi Central: This is one of the most lively areas of the city and close to a number of hotspots. Transportation from there to almost anywhere is easy. In a recent report, Asteco found that rentals for high-end properties in this area dropped by 5 per cent while further down the value chain, the decline was by 6 per cent compared to the second quarter last year.

Abu Dhabi Corniche: Located right alongside the main beach, this is one of … Read more ›

Payment of rents by credit cards is the latest incentive being offered to cash-strapped customers by a leading Abu Dhabi property developer subsequent to its rent-to-own scheme.

Aldar Properties said on Monday its customers would be given an option to pay their rent by credit card starting from August 17.

The developer said the offer is in line with the company’s “ongoing efforts to offer convenient and flexible payment solutions”.

“Residents will initially be able to pay their rent by credit card in … Read more ›

The stay-at-home restrictions and surge in employees working from home during Covid-19 have led many people in the UAE to reconsider their living spaces, as they take advantage of a drop in rental and sales prices to upgrade their properties.

The fall in rents and property prices make it the perfect time to negotiate with landlords and brokers to get a good deal on bigger accommodation, according to industry experts.

Average annual residential rents in some areas of Dubai declined by 15 … Read more ›

The number of new building licences in Abu Dhabi surged 20 per cent in the first half of this year, as developers in the emirate continue to press on with their projects despite the coronavirus pandemic-driven slowdown.

The Department of Municipalities and Transport (DMT) in Abu Dhabi issued 4,426 commercial, residential and government building permits during the first six months of the year, it said on Wednesday.

The DMT also approved four major development projects in the emirate, including Aldar Properties’ Dh8 … Read more ›

Residents across the UAE have faced difficult financial decisions in recent months amid the upheaval caused by the coronavirus pandemic.

Among them is whether they could save on what is likely to be the biggest expense in their budget – rent.

But has the market shifted enough to justify the cost of moving? Rents in Dubai and Abu Dhabi have been declining for the past few years on the back of lower oil prices and a property supply glut, although research showed … Read more ›