Dubai’s property market originally had nobody monitoring or controlling it. But thanks to the Real Estate Regulatory Authority (RERA), the rental market is now developing and expanding steadily. RERA oversees the implementation, maintenance and amendment of stringent laws governing tenants and landlords. So if you want to rent Dubai property it would be wise to know a few things about this.
It is tough to rent Dubai property, especially for newcomers. Being in unfamiliar territory can make finding suitable living spaces that satisfy location and rental budget requirements a real challenge. In Dubai city, the search for rental accommodations can be quite scary.
Population in the city is now twice its original size, and it is seen to double in the coming years. However, the current supply of Dubai rental properties cannot keep up with the demand imposed by the huge number of people inhabiting the area. Apartments and luxury villas are not enough, causing rental rates to spike.
The cost of living within the city is extremely high, and people are not happy with the situation. There is a general feeling of annoyance and frustration among residents who do not know how to handle the rental property shortage. Since not everyone is lucky enough to find and rent Dubai property, they are forced to commute from adjacent emirates like Ajman and Sharjah, or share an apartment with others.
Within three years, housing units are expected to go up by 84,000. This is when all Dubai properties being developed will reach completion and be ready for occupation. As steep Dubai rent rates continue to be a sore spot, it has, on the other hand, strengthened arguments in favor of property ownership. If you have the budget, you can buy property and let it out to get a good income out of it.
With more people clamoring to rent Dubai property, investors now wish to purchase hot-ticket properties in the market. As more people troop to the city, putting money down to invest in Dubai real estate rentals almost guarantees significant investment returns.
Many assume finding places to rent in Dubai would be a snap, but it is not that simple. Even with the large amount of development and construction taking place throughout the city, you have to remember that other new businesses and residents are also fighting for the same space you are.
FazWaz Dubai Portal has a long list of clientele with various properties for lease or rent. Their rental team can help those looking to rent Dubai property, whether business entities or tenants, zero in on quality real estate that meets all their personal requirements. FazWaz Dubai Portal has experts assist with the process of property rental and other matters like the five-percent rent ceiling.
Residential and commercial properties seldom stay for sale for long on the market. FazWaz Dubai Portal keeps tabs of all properties listed with them so those wanting to purchase or rent Dubai property will not have a hard time locating suitable space. For landlords with Dubai rental properties, the company provides comprehensive property management and rental services. Sit back, relax and watch the returns pour in, and leave the rest to FazWaz Dubai Portal.Tags: Dubai, UAE, United Arab Emirates