Dubai landlords becoming more flexible with rent, says report
In a bid to attract tenants, landlords in Dubai are becoming more flexible with prices and even offering rent-free periods, payment terms and other incentives, according to a local property website.
In its latest survey of the Dubai market, Property Finder said Dubai apartments currently advertised for rent are available for almost 30% less than they were two years ago, with most of the significant drops happening in the last 12 months alone.
The ‘Property Finder Trends’ report said landlords who are still paying off mortgages cannot afford their properties lying vacant for too long amid increasing market supply and have been lowering rents as a result, and allowing tenants to increase the number of cheques. They also offering rent-free periods and in some instances include white goods to woo tenants.