Dubai rents softening in 2015; expect bigger decline next year

A number of real estate consultancies are expecting rents to decline this year.

Tenants should be happy as the rents will not merely soften in 2015, but will continue in 2016 as well when new properties come on stream.

?A further 12,000 apartments will be added to the city?s existing inventory in 2015 as well as over 2,000 villas. This is good news for tenants across the emirate, and a more tempered rental environment is especially welcome when you consider that since 2011 apartment rents have increased by 65 per cent and villas by 55 per cent”.

Rentals still remain 25 per cent lower than 2008 though lease rates did rise 6 per cent, on average, in 2014 compared to 2013.