Dubai property rental can be slightly difficult for a new resident to the city. The prospect of finding a reasonable place to live, one that fits rental budgets and location requirements is a challenging task, anywhere in the world. In this city especially, finding Dubai Property for rent can be daunting.
The city’s population has increased two fold and is expected to nearly double. In contrast to the overflow of people coming to reside in the city, the Dubai property rental market is presently undersupplied. The numbers of villas and apartments available for rent have not been able to meet the market’s demand, sending rents skyrocketing.
The shortage of Dubai property for rent has caused a great number of problems for the city’s residents who are at present extremely frustrated and annoyed with the exorbitant cost of living in the city. This situation has forced people to share apartments or commute from neighbouring Emirates like Sharjah and Ajman.
The number of housing units is expected to increase by 84,000 over the next three years, once all the Dubai property currently in development stages is completed and ready for occupancy by new homeowners or tenants. While high rents remain an issue with Dubai property rentals, it has been making the case for ownership of property a stronger and more viable option, as for Dubai’s current property owners, the rental their property demands is lucrative.
Due to the high demand for Dubai Property rental, investors are looking to buy the latest and hottest property in the market. As new residents flock to the city and the population continues to expand, investing in Dubai property rentals is almost a guaranteed return on investment in this growing city.