The Dubai rental market showed a sharp increase in July, going against the usual summer lull, driven by a pilot influx of families and career professionals setting to move in before the upcoming academic year.
New statistics published by the Dubai Land Department (DLD) also show a significant increase in rental deals: since June, Allsopp & Allsopp have registered a rise of 12 percent in agreements of this kind. Its increased pace is explained by the change of seasonal moves based on school enrolments and to continuous inflow of expatriates attracted by the favourable business environment and high living standards in Dubai.
July is traditionally a slower time of year to carry out rentals because it is so hot and because it is holiday time noted Lewis Allsopp, CEO of Allsopp & Allsopp. But this year, there has been a massive movement, as families keen on finding places close to schools and professionals relocating before their employment commences. The market has been busy and active during the summer.”
Being a global hub, Dubai keeps on attracting talent globally. The internationally recognized schools, which are considered among the best in the world, are one major thing that motivates families moving into the city. A significant number of tenants are also opting into signing rental contracts much earlier in order to negate possible rise in prices towards the September school term.
The most demanded areas are the already built neighborhoods like the Arabian Ranches, Jumeirah Village Circle (JVC), and Dubai Hills Estate, where full family facilities and the location near the best schools are the crucial factors. At the same time, business-focused enclaves such as Downtown Dubai and Dubai Marina have stimulated the increased interest of single professionals and couples in apartments.
The analysis of the perpetual vitality of the rental market is seen by analysts as a show of the larger confidence in the property market of Dubai, which has withstood international pressures of the economy. Due to strong demand, developers and landlords are coming up with flexible payment options and competitive pricing methods.
“There’s a clear shift in how people are viewing Dubai—not just as a temporary work destination but as a place to build a long-term life,” said Allsopp. “This change is reshaping the rental landscape, especially in the lead-up to the academic year.”
With schools reopening in just a few weeks, the elevated rental activity is expected to continue into August, setting a robust tone for the remainder of the year.
Source – https://www.arabianbusiness.com/industries/real-estate/dubai-rental-market-bucks-summer-lull-as-new-families-move-in-ahead-of-school-year
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