With the increase in prices, tenants lookout for cheaper Dubai properties to settle down at a place that fulfills their requirements. A tremendous change has been observed in the property market of Dubai; which is not just relieving for the tenants but is also offering new opportunities to them. The year 2020 is up with thousands of new units from numerous projects that are under construction. Most constructions will be apartments. A boost is expected in the property market of Dubai in 2020. Let’s go through some of the predictions.
Decrease in rent
As more property is getting released this year, it is expected that the rents are going to reduce, which will continue in the next few successive years too. This definitely comes as big good news for the tenants who are looking for reduced rents among Dubai properties.
Newer ways for rent
There are changes brought even for paying the rent. New ways for payment of rent are coming up for the convenience of the tenants. It is expected that direct debit monthly payments will become the standard method in the year 2020.
A tenant-friendly market
The change in the property market of Dubai has offered more choice to the tenants and is a tenant-friendly market. They fulfill all the requirements of the tenants including the value, quality, and location of the home. Tenants get a well-maintained and attractive property available for use by them. The highest occupancy will be ensured by professional property management and maintenance services. This indicates better upcoming opportunities for the tenants.
Maintaining the balance
The balance between demand and supply has to be maintained. Numerous cheap Dubai properties are being made available to meet the demands of the tenants. The right kind of supply that fulfills customer demands and aligns well with the future motives of not only the city but also the people residing there; is at the focus.
The property in the Dubai market is available at favorable costs for the tenants. The properties are available at affordable prices for a large population. This is done to meet the increasing demand for a rental property in Dubai.
The property market of Dubai is taking a shift towards long-term equilibrium and natural price. This is mainly due to the availability of more apartments and villas in the rental market. Many legislative changes have been made by the authorities to protect the rights of the tenant. This has given access to the property market in Dubai. Also, one must note that there is an increasing demand for monetization of property by the landlord, through rental revenue consistently. Consequently, Dubai has emerged as a very strong real estate market in the long-term.
There is a transition of influence towards the tenant. Undoubtedly, there is an increase in the size of the property market in Dubai. The tenants now have better choices for choosing the property, and definitely, newer opportunities are available for them. There is a large scope for long-term tenancy in the property market of Dubai.