Dubai rentals set to become pricier at properties along the beachfront

The realty market in most parts of the globe is governed by the rules of demand and supply. Dubai too has been no exception and it had enjoyed a decade of fantastic returns for property owners for over a decade. However, the global economic slowdown that reared its head about two years ago put a dampener on things and Dubai rentals had been plummeting for in the past months.

This scenario simply meant that it was a time for tenants to rejoice as they believed that the bubble had finally burst. Many claimed that the prices of properties for rent in Dubai had reached unheard of levels and that a price correction had indeed been inevitable.

The waxing and waning of fortunes however is cyclic in nature. Buoyed by corrective measures taken by the industry and strong support from the authorities, the prices are experiencing a recovery in some areas. This has been particularly observed by those seeking houses for rent along the beachfront in Dubai.

Many developments along the waterline have been quoting rentals that are higher by the tune of 10 to 20% over what they were in the preceding two years. The beachfront area is dominated by two premier developments. Other than the prestigious Jumeirah Beach Residences and the Shore Line Apartment community by Palm Jumeirah, the Palm Jumeirah Villas are the only beachfront properties.

With the demand supply coming into play, it should come as no surprise to note that the villas for rent were commandeering almost double the rental hike than their apartment counterparts. Luxury bargain hunters looking at a property for rent would be better served if they were to look at options along the Jumeirah Beach Residence. This is so as the total property stock is higher out here in comparison to that of the villas.

Demand at the exclusive Shorelines community settlement has remained relatively stable. Even within the community, a strong preference has emerged for beach facing apartments that command a higher property rental. Thus, there could be bargains to be had here if one were not too picky about having a beach view.

At the end of the day, it all boils down to personal preferences. This statement holds true even when one is looking at a property for rent in some of the exclusive developments in Dubai. Simply ensure that all dealings are conducted through authorised brokerage firms and the due diligence has been carried out.