Home rents in Dubai are currently at the decline stage, hence making it extremely selective in terms of location and city tenants will greatly appreciate help from speculators.
According to a new report on Dubai realty by Deloitte (the global consultancy), “rental price decline could be exacerbated further if speculative investors who are unable to sell product for a satisfactory return instead decide to release units for rent”.
“Consultations with key developers suggest that a more realistic number (for handovers) will be approximately 10,000 units (this year),” according to the report.
“Our real estate advisory team issued a Real Estate Predictions Report in January 2016, which looked at trends and prospects for Dubai’s real estate market. Now that we have moved into the second half of 2016, we have compared the predictions that we made for Dubai’s residential, hospitality, office and retail markets with actual trends in the first half of 2016.” stated Robin Williamson (Managing Director, Deloitte Corporate Finance Limited, Middle East).
It has also been predicted that average sale prices in Dubai will continue to fall.