Dubai's Rising Rents Spark Trend of Downsizing and Relocation
The rising rents in certain well-established neighborhoods of Dubai are driving many families to shift homes. During the pandemic, families and individuals had moved to more spacious houses with outdoor features, taking advantage of declining rents. However, as residential rental rates surged again, some have decided to downsize or relocate to less expensive areas.
Christine Quartier La Tente, a French expat, cited the rent hike as the main reason for moving out of Springs. Despite negotiating a lower rent during the pandemic, the landlord raised it again after the Covid scare receded. To stay in the same neighborhood with the same layout, Christine would have had to pay Dh260-290K annually, prompting the family to explore other options.
After considering buying a house, Christine faced challenges due to age restrictions on loans and decided to move to a more affordable area. The family chose Damac Hills 2, a community near Al Qudra Road, offering affordable properties with a luxurious lifestyle. Despite longer commutes, the community's amenities and cost savings appealed to Christine.
Mays Aalem also moved to Al Furjan due to rising rents in Springs. She highlighted the challenges of downsizing, such as buying new furniture for a smaller house and losing the sense of community. Despite the hassles of shifting, residents like Jez Riveria moved to International City for better facilities at affordable rates.
The demand for housing across the city continues to rise, causing a shortage of available properties and maintaining a strong rental market. Landlords experience minimal or no extended periods without tenants, contributing to the flourishing rental market. The article reflects the trend of residents seeking more affordable housing options and downsizing due to rising rents in certain areas of Dubai.
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By- Sahiba Suri
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