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Dubai News

Dubai’s tenants are upsizing to bigger flats as rents continue to fall

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13-May-2019

Dubai: Renting a spacious apartment or having a place to oneself used to be a luxury for a huge proportion of consumers in the UAE. More than ten years ago, a one-bedroom flat even in the most affordable neighbourhood could easily set one back more than Dh50,000, and upwards of Dh125,000 per annum in premium locations.
But the rental market is changing, and so, too, are the lifestyle and living conditions of the tenants. As leasing rates for flats and villas across the city have dropped year by year, people’s accommodations have gotten only bigger - and better.
Tenants are abandoning cramped apartments and bed spaces to move into more spacious dwellings at a much affordable cost. Some of those who have scored greater deals are not just saving money on rents, they’re now living the kind of life they want – like having a private garden, a swimming pool or gym next door. And more importantly, they’re not breaking the bank
 

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