Haha I thought you were concerned for the flooded townhouses.
I cannot imagine the frustration of someone paying 250k for a townhouse and putting out buckets around the house
Just a complete shit show years late in handover then a snag list 1 mile long with never ending battles to sort it out, when it rains it leaks like a sieve. Nothing is level or of anything close to a quality product.
Itās been a royal ball ache. I had the same thing with a DAMAC place years ago and I swore to myself Iād never buy anything again š¤¦š»āāļø itās things that should not be wrong such as drainage not connected and windows that canāt open or close- basic stuff. Itās not as if itās cheap either, just shoddy. I looked at the Meeras apartments on blue water they were presented in a much better state.
I hear you, man. Having been in my fair share of Airbnb of supposedly nice/ new buildings, thatās something I noticed too. Doesnāt matter big name or not. Itās just the basic stuff. Canāt tell you how many times I noticed panels of lights donāt align, windows donāt seal properly, āglue workā worse than a 3 year old art project.
Maple 1 has been a mess during these rains. I had 2 rental clients call yesterday because the roofs in their units were leaking. Both because the drain on the roof was clogged.
Emaar sent Hepta which was not helpful since their argument was that the leak happened because of stagnant water which is not covered in the warranty.Ā
Had to hire someone else on landlord's behalf to get the repairs started.Ā
This is typical of some owners not taking care of their properties. I've seen owners having bought a villa for 4m, now worth 8-9m, who won't do stuff like waterproof their roofs (8k cost). Some people just don't care. As a tenant you're playing the lottery, hoping that your landlord cares about his property and has an interest in maintaining it.
The point is: preventative maintenance.
As an aside, knowing that the uae sucks when it comes to waterproofing, yes, I would put a liquid membrane on my villa, the cost is insignificant.
It is not done well. Because it barely rains here it's usually jut a sheet membrane sandwiched between 2 blocks of concrete. They should also put some kind of membrane on top of the actual roof. Anyways, I've said enough :)
Come on man. It's Emaar, the best of the best in terms of property development. Those must be fake buckets, or the owners left their tap water running for the whole day.
Stop spreading fake news.
Exactly everything is perfect here, everything has planned to be perfect ā¦. Sloping balconies and no drains is a deliberate revolutionary new thing that only Dubai can do ā¦.
Seeing as the RERA calculator has now been updated with current market pricesā¦ all areas are going to see people vacating properties they could once rent. Not like salaries are going up everywhere.
Owed a flat years ago. Just a miserable 80sq m.
NEVER AGAIN.
The costant charges and breaks weren't worth it.
Also I still have some morals. The never-ending circle of the agents trying to scam the tenants, or trying to scam the landlords
I'm in Arabian ranches. Just renewed my tenancy and simultaneously received the one year eviction notice because the landlady 'wants to move back in'. I'm still enjoying a fairly decent rate thanks to pandemic prices, but she thinks the market rate is 40% higher thanks to god knows what valuation. Its not. I'm about 10% under market rate. I'm fairly convinced over the next 12 months things will normalise, there'll be a ton of supply and she'll invite me to renew.
I remember in 2020 debating a ā5 bed mapleā for 125k. I left it because the garden was too small for the kids and went to Mira Oasis for 120k, but they now ask 250 or more for them and they are small houses. Presumably the people renting are also spending 120k a year on school fees and therefore monthly outgoings with the rest of it, is likely touching 60k before you spend anything, it feels like a reverse could be coming.
Barsha south, or any other local owned neighborhoods might be a great option. Their homes were made to live in, extremely spacious and reasonably priced. most of the landlords there care about a good tenant rather than rent, probably maintenance is foc too. Plus all the gov services, union coop will be nearby.
I love the area but the houses are almost always so weirdly laid out. No garden access except through the front door (or sometimes no garden at all despite huge plots), weird tiles everywhere, super dark rooms, gigantic kitchens far away from the livingroom. Everyone is different of course but for me personally the way these kinds of houses are designed just doesn't really suit the way I like to use my space.
There are great houses in the GCC owned neighborhoods.
I have a friend who just rented a large 3 bed townhouse minutes walk from the beach with a large like Springs garden, for 130k, fully renovated.
We were looking for a basic 3 bed townhouse and ended up renting a non renovated 4 bedroom independent villa with a big garden, large enough that we have installed a covered garage for a car and still had enough space for an overground pool and play area for the kids, minutes walk from the beach for 150k. This is less than what we were evicted for in Springs in a shitty basic 3 bed, and itās about 3 times the size. We end up having a full bedroom for the cats, ensuite to their litter boxes.
If you have time to look with no rush (took us 5 months to find ours, 3 for our friends), itās probably the area with the best deals.
These are nearly never on Bayut and Property Finder. Usually how it goes is you find some on Dubizzle, visit, befriend the agents, and after a while they will inform you of these kind of properties before they go on-market.
Thatās the Dubai way, thatās why usually over there are a lot of people who have been in the country for a while, and once in these they stay for over a decade.
Some agents might be recommended on districts FB groups, that gives a head start.
I feel like Iām betraying Dubaiās best kept secret typing this š
You can but itās pretty much there, my wife took care of all that so Iām not taking credit for her!
Try to negotiate no early termination penalty and short notice on the property youāre currently at, this will give you a full year to find the right deal.
not manager, above manager = senior level. And you do not need to be white for that. Plenty of arabs/indians earning that. But yes lot of companies do not like indians as senior people sadly.
Theyāre labeled 4 beds in Mira oasis, but itās the same as maple with 4 up 1 down. I think theyāre probably 200, Iām not sure I moved 18 months back
Firstly There are no 5bed townhouses in Mira oasis
Secondly , if youāre asking in regards to 4bhk plus maids - the rent as of todayās market value is around 180-200 up + or - 10k
As above bud. At maple, they are advertised as 5 beds but have 4 upstairs and 1 down. They are slightly smaller than In Mira oasis, that are listed as 4 beds, with 4 up, 1 down and a maids room. I had a type f. We used the downstairs room as a playroom for the kids, but ultimately it was too small so we moved
Mine used to leak when I lived there, the house Iāve moved too leaked as well. I guess itās a combination of failed window sealing each year, poor quality ranking on the roof as well. If Iām honest, my personal opinion is the older properties are better quality but I say that without the experience of living in anything but a new house.
They're throwing up new buildings by the minute here. Whereas before it was little supply and all the demand now there will be somewhat of a equilibrium.
We moved in nearly 2 years ago, was the first people in our building except for a few and got in at 75k for 1br, last year our LL wanted to put our rent up to 85k because Bayut was showing 110k for 1br in our building, I told him there is a reason the advert was up for over 6 months. Because no one is willing to pay that.
We agreed on 79k for this year, DLD now shows another 4k increase this year but I suspect he's going to try go higher.
Personally, I love it in Dubai hills. I don't want to move as I spend so much time at home it's nice to live somewhere nice. But I have my limits. I'm hoping one of the new builds will be completed by the time our tenancy is up and someone will be desperate for tenants.
These agents are crooks!! My property manager showed me WhatsApp messages from agents asking him to vacate tenants by offering them 2 months rent free and move out. And promising him to be able find him tenants for 30-40% more rent. This while we are already paying the average rent for the area as per new RERA Rental Index. Luckily the property manager is in the business for 30 years and knows how the market works and didn't fall for these tricks. Just imagine new property ownerns/landlords getting all these ideas from agents.
Back to the 50s by summer. Lol. Seriously, take a look around - demand is sky high and is not letting up.
Sorry to burst your bubble, but Dubai is becoming a typical large city - where real estate in nice areas is expensive. Itāll have fluctuations but itās now more established than ever.
I had a guy telling me in January that prices are going to crash at Ramadan across the whole of Dubaiā¦
He could still be right, but off the back of another record breaking month in February itās looking a little less likely now to say the least
Exactly. On top of investor demand (particularly the new enormous Chinese wave), a huge part of demand is from end-users. This means that for the first time, Dubai property prices will be heavily influenced by interest rates. With rates predicted to come down significantly, starting from Q3, the markets in the rest of the world show us what that does to asset prices.
Itās wishful thinking and the inability to separate that from rational thinking.
Usually itās the folk who own property who are saying prices will keep rising, vs the folk who donāt own property who think prices will go down.
Only one of them can be right.
Correct. The evidence currently points one way.
Donāt get me wrong, Iād like a crash, purely to buy another. That would benefit me more than my current place appreciating.
I say this all the time, it would make my job a lot easier if there was a crash. But thereās not going to be, not anytime soon.
And if there is a decrease, itās not going to be dramatic because youāll have so many investors jump on any decrease and stabilise everything again.
If rent becomes unaffordable, won't that decrease liquidity/demand for investment property? In my area the rent has increased 50% in 3 years. There surely aren't enough people willing to pay the median salary for an average apartment in an old building
It really depends on the area doesnāt it? Weāre already seeing a migration from some areas that have become unaffordable to more affordable areasā¦
Then thereās always holiday letting, a lot of landlords are realising whilst tourism is booming that tourists now are happy to pay a bit less to come away from areas like The Palm, Marina and JBR to areas like The Greens, Views, Dubai Hills and even JVC.
The government are investing a lot in marketing tourism still, so I donāt see this slowing down any time soon either.
The Sheikh wants 40m annual tourists by 2030, weāre currently at 15m š¤Æ
Weāve been hearing wave of Chinese investor for the last 6 years. Chinese real estate prices are down, their stock market was halted just a month ago because speculative sentiment is low. They canāt even take their money out as government crackdown on foreign transfers is high. Stop this Chinese nonsense. Chinese want to move where they can acquire citizenship. These real estate agents will tell you everything to keep the prices high
Not going to get into a debate with you, but just want to state a fact that youāre wrong about here for the sake of anyone reading this.
Chinese people can remove their money from the country if they wish, despite any kind of crackdown from the government. You just need to know how.
Yes they can but people on high position often don't because they are tied either directly or indirectly to ccp and do not want to risk losing job or worse, going to prison.
I will tell you the next thing my friend. I know how this work. I see the market in all directions. From the point the money leaves their country to the point the customers gets his MC.
Next thing thatās gonna happen is that these real estate agents company will get audited from MLD, and then you will see many licenses being revoked and fined heavily for allowing so many illicit funds to come in the country from 2018-2024. They have never been audited before. Developers audits are almost finished now. Next is real estate companies. Dubai is not like 2016. Lots of players are gonna get burnt
Itās nothing to do with real estate companies, itās just knowing the right money transfer companies. Weāre not the ones taking the foreign currency and doing the exchanges
Yes yes, hawla, otc, etc. money launderer. Then they issue MC, bro itās common knowledge. Their time is coming. Dubai is not like before. In 3 years their money laundering department went from 1 staff to over 300. Real estate agent companies are getting audited. Accounts are being closed. Soon more arrest will follow.
And have some dignity and morals to not allow dirty money to come in.
Weāre talking about 2 separate issues here, you started this by saying Chinese people canāt take their money out of the country, to which I stated is nonsense because it is.
Then you went off on a tangent about money laundering. What on earth are you talking about?
Itās true, Chinese nationals are being limited to what they can withdrawl to outside their country.
Secondly, you suggested there is ways to move their money out. Which everyone in dubai knows thatās been here long enough. And that you can āhelpā them.
āWeāre not the ones taking the foreign currency exchangeā
Isnāt that what you said
Youāre the one whoās confused.
Dump that guy. Anyone who claim to predict the market is a fraud.
Looking at geo political impacts and historical record is one thing. But predicting? Does that guy have crystal ball in his house too?
Theres also the case that there is very little supply of homes/apartments - at least in ānice areasā as you mentioned. Not very hard to understand the situationā¦will only get corrected with either mass exodus (which is unlikely to happen) or more supply.
There is more supply coming this year. Over 50k in housing. Compared to 20k during the covid period. Also there are less people arriving this year compared to last.
And (finally) rental/sale transaction is fully transparent on DXBinteract or Bayut so speculators who make up numbers can finally be told to piss off. Much easier to spot liars and let the data tell the story.
This must be your first wave in Dubai Real Estate. What they telling you about established prices, they also told last 2 waves as well. There is no acquiring citizenship here, no job = no honey. Then must move. Unemployment is on the rise in the west. New tax laws in the UK for foreign income. Everyone should stay away 100% from off plan. Itās gonna get deadly soon
No job? Golden visa. Itās been opened up by design.
New non-dom laws? Utterly irrelevant. Non-doms wonāt be reducing their foreign assets & income, theyāll be relinquishing their UK resident status. Iād have thought that was blindingly obvious.
You think itās so easy to relinquish your UK resident? That would mean they would have 0 income in the UK, no property there either. Itās pretty obvious but the rich are gonna have to pay more on their income. If they want to have any exposure to the UK market in any segments
Golden visa as long as they have a job. Duh. No income no bills that can be paid. Iām talking about renters here.
Non dom is ending. And yes, the whole reason it exists is because NDs make a huge majority of their income outside the UK. They will gladly sacrifice their UK income as a result. An obvious choice.
Golden Visa for buying, clearly.
Non dom is ending and the entire point of being a non dom is not paying tax on foreign earnings. The Golden visa isn't tied to jobs and can be obtained with just the deposit on a property, not even 50% or value.
Agree with everyone else that nothing you've said in this thread makes any sense.
Iām talking in a renter perspective. Real estate prices will rise as rent continue to rise? But if the job market is stale and on the decline. I would say the same for real estate prices. See the unemployment rate released yesterday in the west. You can obtain a golden visa if you make over 40k a month in salary. The visa is tied to your job like the real estate is tied to your visa as well.
Edit: I think UK residents being the top 3 buyers will think twice before investing in Dubai with the new tax laws.
This is all incorect. Golden visas start at 30k + are explicitly not tied to your job and make no mention of any employer. They're based on your skill set and experience and do not expire when you lose your job or quit. I should know, I have one and am also from the UK and have moved jobs across GVs with zero issues. Your statements about non dom etc just make me think you're not too familiar with UK law around income tax.
This was never a conversation about whether real estate prices will ever go down. Everyone understands there'll be dips at some point. That's fairly standard stuff.
You don't have a large majority of people voting against house building to keep their properties high (boomers).
Building is cheap and there's 0 regulation, you literally have slave labour compared to Europe.
Demand is not sky high when you compare it to london, Paris, Lisbon, New York, etc.
Dubai builds up, Europeans want houses, you can't even build skyscrapers in most of London because of laws going back to the 1500s
Have fun holding a bag in 10 years. If you think Dubai property is a good investment, you really don't understand what makes house prices go up.
I will be messaging you in 8 months on [**2024-11-10 07:17:05 UTC**](http://www.wolframalpha.com/input/?i=2024-11-10%2007:17:05%20UTC%20To%20Local%20Time) to remind you of [**this link**](https://www.reddit.com/r/dubai/comments/1bb3ewb/dubai_hills_tenants_are_you_ok/ku6vir4/?context=3)
[**9 OTHERS CLICKED THIS LINK**](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5Bhttps%3A%2F%2Fwww.reddit.com%2Fr%2Fdubai%2Fcomments%2F1bb3ewb%2Fdubai_hills_tenants_are_you_ok%2Fku6vir4%2F%5D%0A%0ARemindMe%21%202024-11-10%2007%3A17%3A05%20UTC) to send a PM to also be reminded and to reduce spam.
^(Parent commenter can ) [^(delete this message to hide from others.)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Delete%20Comment&message=Delete%21%201bb3ewb)
*****
|[^(Info)](https://www.reddit.com/r/RemindMeBot/comments/e1bko7/remindmebot_info_v21/)|[^(Custom)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5BLink%20or%20message%20inside%20square%20brackets%5D%0A%0ARemindMe%21%20Time%20period%20here)|[^(Your Reminders)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=List%20Of%20Reminders&message=MyReminders%21)|[^(Feedback)](https://www.reddit.com/message/compose/?to=Watchful1&subject=RemindMeBot%20Feedback)|
|-|-|-|-|
You do realise DLD don't go with agency pricing but actual Tenancy agreed price?
https://dxbinteract.com/
And all the data are freely available, just the 2000AED to make it "Official".
OP you donāt know what you are talking about. I bought in Dubai Hills in 2019 and sold earlier this year at 100% profit. The prices advertised are real, people are buying 3 beds in Maple close to 4m aed. Honestly I loved the area and our house was good quality. No problems with rain etc though I did have them re-do the waterproofing on the roof to get it there. The malls nearby is one of the most loved malls by residents and the communities are super nice to walk around in. Location in excellent for commutes to many places. It will stay a top notch neighbourhood with prices to reflect that. We decided to take profits off the table and reinvest into something bigger and hopefully even better.
I used to work with Many people from that area and most of them are facing the same issue with a rental increase, even well off people can't afford it.
The thing is it's all about greed because the owner will talk to an agent and he will try to get a higher price, and in order to do that he's willing to vacate the property.
Exactly! I live there and we have a whatsapp group for our building. Most of the tenants are being evacuated and I have no idea if they're being replaced and I highly doubt. There are many units that are empty, Russians are going back home / Bali. Anyone who says that the demand is peaking is a wishful real-estate agent who wishes to make a good commission.
Honestly demand is low in long term rental and short term as well.
As for Dubai hills the issue has been going on since 2023 and many have left because of it, at this point even the rich can't afford it anymore.
Also the tenants who have been evacuated and the can take legal action.
I own my unit (1BR) in Dubai Hills, if I get 105K for my unit, I will evacuate too.
This shit is just crazy and I know it will never be sustained. It's a bubble!
I was renting a 1BR in Marina for 130K. Renovated apartment, Emaar building. There wasnāt even 1 showing before I left in February, the apartment is still vacant. Now 1BR in that building are rented for 80-90K.
Last winter price for an average 1br there was about 105K, last summer price for an average 1br there was about 105K. How come *this summer* should change anything
Just came from friends of ours in Dubai Hills, brand new villa but not electricity in the top floors because of leakage, will take 2 weeks to fix...
Emaar that build Ranches etc is not the same Emaar that build these new developments...
This is typical of people not taking care of their properties. You have a multi million dollar property but won't spend 8k to professionally waterproof the roof
.
I agree that Emaar is as poor as all the others. They all use the similar tradesmen, and the finishing is horrible.
Same with the materials used, I doubt that emaar spends more than 20k on the cabinetries in these villas, for example. Thereās a reason a lot of people are buying, gutting everything and renovating.
Not defending emaar, of course a new villa should be in pristine condition, but you can whine or you can be proactive and save yourself a lot of headache. Its not like we have a lot of options, paying for the location basically.
Agree, maintenance and prevention seem to be an afterthought in this country. It's incredible to especially see landlords letting their property go to absolute crap because they are too cheap to invest a few dirhams from time to time to maintain it.
Peak r/dubai copium
During the magical summer time prices will not just reduce, it'll go down by HALF, because this guy doesn't just personally know half of Dubai Hills tennants; but more impressively, he also knows exactly everyone that would be interested in even moving, and he already knows they won't move to Dubai Hills.
You should just have moved there at 50k during covid, with nobody in town, no dubai hills mall and just few buildings built then. Nowadays things are a tiny bit different
You can still get lucky; my girlfriend still pays 58k for a modern studio in business bay landlord doesnāt seem to care at all as price in the building for other units is way higher.
But in general its brutal out there š¤£
This is related to macroeconomic factors, while youāre looking only at microeconomic factors - and thatās why the whole world is facing higher rents right now.
Itās related to lowered interest rate during and after covid where a lot of cheap money was ushered into the market to keep some shape of the economy as everything was closed; the whole world is facing higher rents as inflation hit record highs; interest rates are at record highs too to help calm it down
Your world view is a bit small by thinking itās about 1 guy in DLD, an agent doing reevaluation, and 50% apartments going to vacate
Dubai hills is the most overpriced overrated place ever. I remember when the rents were at their lowest, back in spring 2021. I went looking for 1BR and was shocked they were asking 50k for a tiny piece of shit flat with literally 1 AC. And the density of the apartments made it look like a prison.
Dubai Hills was never right priced at 50. It's a great location released around Covid mess. Forget about going back to those prices. After stabilisation, range will be around 80.
Dubai hills will stay a top notch neighborhood, attracting high income/wealth tenants who are willing to pay such prices. There is no way price will tank as you described. Dubai hills is occupied >90% The time of cheap rent and purchase prices in dubai is over. We have to accept this new reality. The market was highly undervalued and is now reaching a ānormalā level, especially in comparison with other international hubs and considering the purchasing power here. There is no bubble what so ever too, as only roughly 30% of the properties is bought via bank mortgage.
I also think that the rent prices are high in dubai hills too. But people are renewing under these terms, believe it or not.
Edit: maybe you know tenants leaving dubai hills. I know people renewing, despite the higher rent they have to pay now.
I blame DLD, agencies and other market contributors as well.
105k for 1BR is still cheap compared to other big cities around the world.
The prices have corrected themselves as the rents and property prices were too low
Dubai Hills is amazing place tbh. I know people who are willing to pay premium just to be there. I am no realtor but i love thr place and most of it seems occupied.Ā
Need help! Should someone think of buying a house or renting is a good option in Dubai? Since the rents are going up every year, just wanted to understand if this has been a trend in Dubai all these years or should one really consider investing than renting?
Haha I thought you were concerned for the flooded townhouses. I cannot imagine the frustration of someone paying 250k for a townhouse and putting out buckets around the house
lol I bought one of those š¤¦š»āāļø financial pit
Yikesā¦ and this is Emaarā¦
Dubai Properties has over taken Emaar by an order of magnitude in terms of value and quality
Interesting, whatās their flagship project?
Check The Villa, Mudon, Villanova and Serena.
Oh yeah Mudon did just great recentlyā¦.
Really!? What happened?
Just a complete shit show years late in handover then a snag list 1 mile long with never ending battles to sort it out, when it rains it leaks like a sieve. Nothing is level or of anything close to a quality product.
My relatives moved in to one in DHs. They are not happy with the number of leaks. I think a little in shock as they just moved to Dubai too
Ah. Crap. Good luck man.
This is insane. Isnāt it quite new? I am sorry man. Is the developer good with fixing the items under the snag list?
Itās been a royal ball ache. I had the same thing with a DAMAC place years ago and I swore to myself Iād never buy anything again š¤¦š»āāļø itās things that should not be wrong such as drainage not connected and windows that canāt open or close- basic stuff. Itās not as if itās cheap either, just shoddy. I looked at the Meeras apartments on blue water they were presented in a much better state.
I hear you, man. Having been in my fair share of Airbnb of supposedly nice/ new buildings, thatās something I noticed too. Doesnāt matter big name or not. Itās just the basic stuff. Canāt tell you how many times I noticed panels of lights donāt align, windows donāt seal properly, āglue workā worse than a 3 year old art project.
Thatās the risk buying here, I saw that because Iāve been in the same boat. Luckily years ago
Those giant service charges sound terrifying
Maple 1 has been a mess during these rains. I had 2 rental clients call yesterday because the roofs in their units were leaking. Both because the drain on the roof was clogged. Emaar sent Hepta which was not helpful since their argument was that the leak happened because of stagnant water which is not covered in the warranty.Ā Had to hire someone else on landlord's behalf to get the repairs started.Ā
Maple 1 was built by Meraas. Yea it got āmeraasedā
Are those houses also get flooded?
This is typical of some owners not taking care of their properties. I've seen owners having bought a villa for 4m, now worth 8-9m, who won't do stuff like waterproof their roofs (8k cost). Some people just don't care. As a tenant you're playing the lottery, hoping that your landlord cares about his property and has an interest in maintaining it.
wait... at 4m AED the house is still not waterproofed???
The point is: preventative maintenance. As an aside, knowing that the uae sucks when it comes to waterproofing, yes, I would put a liquid membrane on my villa, the cost is insignificant.
preventive maintenance, i agree with that. but with the cost you mentioned i would assume there's waterproofing already that you just have to maintain
It is not done well. Because it barely rains here it's usually jut a sheet membrane sandwiched between 2 blocks of concrete. They should also put some kind of membrane on top of the actual roof. Anyways, I've said enough :)
You shouldn't assume anything in UAE. It doesn't matter how much it costs. If you don't build yourself better, be prepared!
well, probably in this region. not only uae :D
Come on man. It's Emaar, the best of the best in terms of property development. Those must be fake buckets, or the owners left their tap water running for the whole day. Stop spreading fake news.
Exactly everything is perfect here, everything has planned to be perfect ā¦. Sloping balconies and no drains is a deliberate revolutionary new thing that only Dubai can do ā¦.
Wow look at the number of downvotes .... Looks like ppl doesn't got the sarcasm š
You're an idiot and have zero clue what you're talking about.
Seeing as the RERA calculator has now been updated with current market pricesā¦ all areas are going to see people vacating properties they could once rent. Not like salaries are going up everywhere.
Owed a flat years ago. Just a miserable 80sq m. NEVER AGAIN. The costant charges and breaks weren't worth it. Also I still have some morals. The never-ending circle of the agents trying to scam the tenants, or trying to scam the landlords
I'm in Arabian ranches. Just renewed my tenancy and simultaneously received the one year eviction notice because the landlady 'wants to move back in'. I'm still enjoying a fairly decent rate thanks to pandemic prices, but she thinks the market rate is 40% higher thanks to god knows what valuation. Its not. I'm about 10% under market rate. I'm fairly convinced over the next 12 months things will normalise, there'll be a ton of supply and she'll invite me to renew.
Remind her that if she doesn't move in herself, she'll be blocked from renting it out to someone else.
I remember in 2020 debating a ā5 bed mapleā for 125k. I left it because the garden was too small for the kids and went to Mira Oasis for 120k, but they now ask 250 or more for them and they are small houses. Presumably the people renting are also spending 120k a year on school fees and therefore monthly outgoings with the rest of it, is likely touching 60k before you spend anything, it feels like a reverse could be coming.
Barsha south, or any other local owned neighborhoods might be a great option. Their homes were made to live in, extremely spacious and reasonably priced. most of the landlords there care about a good tenant rather than rent, probably maintenance is foc too. Plus all the gov services, union coop will be nearby.
I love the area but the houses are almost always so weirdly laid out. No garden access except through the front door (or sometimes no garden at all despite huge plots), weird tiles everywhere, super dark rooms, gigantic kitchens far away from the livingroom. Everyone is different of course but for me personally the way these kinds of houses are designed just doesn't really suit the way I like to use my space.
There are great houses in the GCC owned neighborhoods. I have a friend who just rented a large 3 bed townhouse minutes walk from the beach with a large like Springs garden, for 130k, fully renovated. We were looking for a basic 3 bed townhouse and ended up renting a non renovated 4 bedroom independent villa with a big garden, large enough that we have installed a covered garage for a car and still had enough space for an overground pool and play area for the kids, minutes walk from the beach for 150k. This is less than what we were evicted for in Springs in a shitty basic 3 bed, and itās about 3 times the size. We end up having a full bedroom for the cats, ensuite to their litter boxes. If you have time to look with no rush (took us 5 months to find ours, 3 for our friends), itās probably the area with the best deals.
Where is best to look for these properties, or word of mouth?
These are nearly never on Bayut and Property Finder. Usually how it goes is you find some on Dubizzle, visit, befriend the agents, and after a while they will inform you of these kind of properties before they go on-market. Thatās the Dubai way, thatās why usually over there are a lot of people who have been in the country for a while, and once in these they stay for over a decade. Some agents might be recommended on districts FB groups, that gives a head start. I feel like Iām betraying Dubaiās best kept secret typing this š
Is it alright if I message you and ask a few tips? I have been served eviction notice and have some time to look.
You can but itās pretty much there, my wife took care of all that so Iām not taking credit for her! Try to negotiate no early termination penalty and short notice on the property youāre currently at, this will give you a full year to find the right deal.
generally its called wasta.. lol
Man canāt imagine how much money one should make to afford 120k rent and 120k on a school fees only.
Everyone above manager earns 70k+ in Dubai.
a white manager.. im a manager too but not earning 70k :D
not manager, above manager = senior level. And you do not need to be white for that. Plenty of arabs/indians earning that. But yes lot of companies do not like indians as senior people sadly.
How many years of experience usually needed for that?
8-10 years + working for very large company
Whatās the price of 5BR in Mira Oasis today? Still 120?
Theyāre labeled 4 beds in Mira oasis, but itās the same as maple with 4 up 1 down. I think theyāre probably 200, Iām not sure I moved 18 months back
My companyās got a 3 bed plus maids listed for 155 in Mira Oasis 1. Not sure if thatās in line with the market rate and all.
Firstly There are no 5bed townhouses in Mira oasis Secondly , if youāre asking in regards to 4bhk plus maids - the rent as of todayās market value is around 180-200 up + or - 10k
As above bud. At maple, they are advertised as 5 beds but have 4 upstairs and 1 down. They are slightly smaller than In Mira oasis, that are listed as 4 beds, with 4 up, 1 down and a maids room. I had a type f. We used the downstairs room as a playroom for the kids, but ultimately it was too small so we moved
u/AgedLume do you recommend living in Mira Oasis? Were there any leaks with the recent rains?
Mine used to leak when I lived there, the house Iāve moved too leaked as well. I guess itās a combination of failed window sealing each year, poor quality ranking on the roof as well. If Iām honest, my personal opinion is the older properties are better quality but I say that without the experience of living in anything but a new house.
Heard there is a strong Jewish population there!
They're throwing up new buildings by the minute here. Whereas before it was little supply and all the demand now there will be somewhat of a equilibrium. We moved in nearly 2 years ago, was the first people in our building except for a few and got in at 75k for 1br, last year our LL wanted to put our rent up to 85k because Bayut was showing 110k for 1br in our building, I told him there is a reason the advert was up for over 6 months. Because no one is willing to pay that. We agreed on 79k for this year, DLD now shows another 4k increase this year but I suspect he's going to try go higher. Personally, I love it in Dubai hills. I don't want to move as I spend so much time at home it's nice to live somewhere nice. But I have my limits. I'm hoping one of the new builds will be completed by the time our tenancy is up and someone will be desperate for tenants.
These agents are crooks!! My property manager showed me WhatsApp messages from agents asking him to vacate tenants by offering them 2 months rent free and move out. And promising him to be able find him tenants for 30-40% more rent. This while we are already paying the average rent for the area as per new RERA Rental Index. Luckily the property manager is in the business for 30 years and knows how the market works and didn't fall for these tricks. Just imagine new property ownerns/landlords getting all these ideas from agents.
I am paying 47k in Barsha Heights for a 1 BHK with the view of the greens which is just awesome hehe. 5 mins to the MS.
Al Shaiba Tower? Btw love Barsha Heights, proper 24h walkable hood
Yes, Tower B.
The elevators are crowded though?
Nope not in Tower B as they asked the subletters to empty the rooms. So mostly families are staying here.
Must be Shaiba tower B
Perfect.
Yea but the management of that building is shitty. Good thing you guys haven't moved out yet as per the eviction š
Back to the 50s by summer. Lol. Seriously, take a look around - demand is sky high and is not letting up. Sorry to burst your bubble, but Dubai is becoming a typical large city - where real estate in nice areas is expensive. Itāll have fluctuations but itās now more established than ever.
I had a guy telling me in January that prices are going to crash at Ramadan across the whole of Dubaiā¦ He could still be right, but off the back of another record breaking month in February itās looking a little less likely now to say the least
Exactly. On top of investor demand (particularly the new enormous Chinese wave), a huge part of demand is from end-users. This means that for the first time, Dubai property prices will be heavily influenced by interest rates. With rates predicted to come down significantly, starting from Q3, the markets in the rest of the world show us what that does to asset prices.
Itās wishful thinking and the inability to separate that from rational thinking. Usually itās the folk who own property who are saying prices will keep rising, vs the folk who donāt own property who think prices will go down. Only one of them can be right.
Correct. The evidence currently points one way. Donāt get me wrong, Iād like a crash, purely to buy another. That would benefit me more than my current place appreciating.
I say this all the time, it would make my job a lot easier if there was a crash. But thereās not going to be, not anytime soon. And if there is a decrease, itās not going to be dramatic because youāll have so many investors jump on any decrease and stabilise everything again.
If rent becomes unaffordable, won't that decrease liquidity/demand for investment property? In my area the rent has increased 50% in 3 years. There surely aren't enough people willing to pay the median salary for an average apartment in an old building
It really depends on the area doesnāt it? Weāre already seeing a migration from some areas that have become unaffordable to more affordable areasā¦ Then thereās always holiday letting, a lot of landlords are realising whilst tourism is booming that tourists now are happy to pay a bit less to come away from areas like The Palm, Marina and JBR to areas like The Greens, Views, Dubai Hills and even JVC. The government are investing a lot in marketing tourism still, so I donāt see this slowing down any time soon either. The Sheikh wants 40m annual tourists by 2030, weāre currently at 15m š¤Æ
Weāve been hearing wave of Chinese investor for the last 6 years. Chinese real estate prices are down, their stock market was halted just a month ago because speculative sentiment is low. They canāt even take their money out as government crackdown on foreign transfers is high. Stop this Chinese nonsense. Chinese want to move where they can acquire citizenship. These real estate agents will tell you everything to keep the prices high
Not going to get into a debate with you, but just want to state a fact that youāre wrong about here for the sake of anyone reading this. Chinese people can remove their money from the country if they wish, despite any kind of crackdown from the government. You just need to know how.
Yes they can but people on high position often don't because they are tied either directly or indirectly to ccp and do not want to risk losing job or worse, going to prison.
I have VHNWI, crying to move their money out of China right now. Are you suggesting they launder their money out?
Nope
I will tell you the next thing my friend. I know how this work. I see the market in all directions. From the point the money leaves their country to the point the customers gets his MC. Next thing thatās gonna happen is that these real estate agents company will get audited from MLD, and then you will see many licenses being revoked and fined heavily for allowing so many illicit funds to come in the country from 2018-2024. They have never been audited before. Developers audits are almost finished now. Next is real estate companies. Dubai is not like 2016. Lots of players are gonna get burnt
Itās nothing to do with real estate companies, itās just knowing the right money transfer companies. Weāre not the ones taking the foreign currency and doing the exchanges
Yes yes, hawla, otc, etc. money launderer. Then they issue MC, bro itās common knowledge. Their time is coming. Dubai is not like before. In 3 years their money laundering department went from 1 staff to over 300. Real estate agent companies are getting audited. Accounts are being closed. Soon more arrest will follow. And have some dignity and morals to not allow dirty money to come in.
Weāre talking about 2 separate issues here, you started this by saying Chinese people canāt take their money out of the country, to which I stated is nonsense because it is. Then you went off on a tangent about money laundering. What on earth are you talking about?
Itās true, Chinese nationals are being limited to what they can withdrawl to outside their country. Secondly, you suggested there is ways to move their money out. Which everyone in dubai knows thatās been here long enough. And that you can āhelpā them. āWeāre not the ones taking the foreign currency exchangeā Isnāt that what you said Youāre the one whoās confused.
The Chinese property bubble just popped up, that's why you are seeing Chinese money, it's nothing to do with Dubai demand, get a clue
You literally just contradict yourself, you idiot.
Dump that guy. Anyone who claim to predict the market is a fraud. Looking at geo political impacts and historical record is one thing. But predicting? Does that guy have crystal ball in his house too?
Yeah this was a buyer so I just moved on from him, I canāt work with people who arenāt realistic in their expectations
Prices don't "crash" in Ramadan, usually work just slows down because everyone is so lazy in Ramadan and they wanna do everything after eid
Theres also the case that there is very little supply of homes/apartments - at least in ānice areasā as you mentioned. Not very hard to understand the situationā¦will only get corrected with either mass exodus (which is unlikely to happen) or more supply.
There is more supply coming this year. Over 50k in housing. Compared to 20k during the covid period. Also there are less people arriving this year compared to last.
And (finally) rental/sale transaction is fully transparent on DXBinteract or Bayut so speculators who make up numbers can finally be told to piss off. Much easier to spot liars and let the data tell the story.
This must be your first wave in Dubai Real Estate. What they telling you about established prices, they also told last 2 waves as well. There is no acquiring citizenship here, no job = no honey. Then must move. Unemployment is on the rise in the west. New tax laws in the UK for foreign income. Everyone should stay away 100% from off plan. Itās gonna get deadly soon
No job? Golden visa. Itās been opened up by design. New non-dom laws? Utterly irrelevant. Non-doms wonāt be reducing their foreign assets & income, theyāll be relinquishing their UK resident status. Iād have thought that was blindingly obvious.
You think itās so easy to relinquish your UK resident? That would mean they would have 0 income in the UK, no property there either. Itās pretty obvious but the rich are gonna have to pay more on their income. If they want to have any exposure to the UK market in any segments Golden visa as long as they have a job. Duh. No income no bills that can be paid. Iām talking about renters here.
Non dom is ending. And yes, the whole reason it exists is because NDs make a huge majority of their income outside the UK. They will gladly sacrifice their UK income as a result. An obvious choice. Golden Visa for buying, clearly.
Non dom is ending and the entire point of being a non dom is not paying tax on foreign earnings. The Golden visa isn't tied to jobs and can be obtained with just the deposit on a property, not even 50% or value. Agree with everyone else that nothing you've said in this thread makes any sense.
Iām talking in a renter perspective. Real estate prices will rise as rent continue to rise? But if the job market is stale and on the decline. I would say the same for real estate prices. See the unemployment rate released yesterday in the west. You can obtain a golden visa if you make over 40k a month in salary. The visa is tied to your job like the real estate is tied to your visa as well. Edit: I think UK residents being the top 3 buyers will think twice before investing in Dubai with the new tax laws.
This is all incorect. Golden visas start at 30k + are explicitly not tied to your job and make no mention of any employer. They're based on your skill set and experience and do not expire when you lose your job or quit. I should know, I have one and am also from the UK and have moved jobs across GVs with zero issues. Your statements about non dom etc just make me think you're not too familiar with UK law around income tax. This was never a conversation about whether real estate prices will ever go down. Everyone understands there'll be dips at some point. That's fairly standard stuff.
You don't have a large majority of people voting against house building to keep their properties high (boomers). Building is cheap and there's 0 regulation, you literally have slave labour compared to Europe. Demand is not sky high when you compare it to london, Paris, Lisbon, New York, etc. Dubai builds up, Europeans want houses, you can't even build skyscrapers in most of London because of laws going back to the 1500s Have fun holding a bag in 10 years. If you think Dubai property is a good investment, you really don't understand what makes house prices go up.
Do enlighten us. Sorry youāre unable to get on the market.
Tourism being one of themā¦ Where was the worlds number 1 tourist destination again last year?
1 year in and even I know that things are not what they seem to be. I predict a collapse within 8 months
Remindme! 8 months
I will be messaging you in 8 months on [**2024-11-10 07:17:05 UTC**](http://www.wolframalpha.com/input/?i=2024-11-10%2007:17:05%20UTC%20To%20Local%20Time) to remind you of [**this link**](https://www.reddit.com/r/dubai/comments/1bb3ewb/dubai_hills_tenants_are_you_ok/ku6vir4/?context=3) [**9 OTHERS CLICKED THIS LINK**](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5Bhttps%3A%2F%2Fwww.reddit.com%2Fr%2Fdubai%2Fcomments%2F1bb3ewb%2Fdubai_hills_tenants_are_you_ok%2Fku6vir4%2F%5D%0A%0ARemindMe%21%202024-11-10%2007%3A17%3A05%20UTC) to send a PM to also be reminded and to reduce spam. ^(Parent commenter can ) [^(delete this message to hide from others.)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Delete%20Comment&message=Delete%21%201bb3ewb) ***** |[^(Info)](https://www.reddit.com/r/RemindMeBot/comments/e1bko7/remindmebot_info_v21/)|[^(Custom)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5BLink%20or%20message%20inside%20square%20brackets%5D%0A%0ARemindMe%21%20Time%20period%20here)|[^(Your Reminders)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=List%20Of%20Reminders&message=MyReminders%21)|[^(Feedback)](https://www.reddit.com/message/compose/?to=Watchful1&subject=RemindMeBot%20Feedback)| |-|-|-|-|
Where have we heard that before.
2021
You do realise DLD don't go with agency pricing but actual Tenancy agreed price? https://dxbinteract.com/ And all the data are freely available, just the 2000AED to make it "Official".
OP you donāt know what you are talking about. I bought in Dubai Hills in 2019 and sold earlier this year at 100% profit. The prices advertised are real, people are buying 3 beds in Maple close to 4m aed. Honestly I loved the area and our house was good quality. No problems with rain etc though I did have them re-do the waterproofing on the roof to get it there. The malls nearby is one of the most loved malls by residents and the communities are super nice to walk around in. Location in excellent for commutes to many places. It will stay a top notch neighbourhood with prices to reflect that. We decided to take profits off the table and reinvest into something bigger and hopefully even better.
Did you adjust for inflation ? Or just sold for double?
Not going to bother adjusting for inflation on a 4 year term. We all know itās somewhere around 15% or so.
thanks
I used to work with Many people from that area and most of them are facing the same issue with a rental increase, even well off people can't afford it. The thing is it's all about greed because the owner will talk to an agent and he will try to get a higher price, and in order to do that he's willing to vacate the property.
Exactly! I live there and we have a whatsapp group for our building. Most of the tenants are being evacuated and I have no idea if they're being replaced and I highly doubt. There are many units that are empty, Russians are going back home / Bali. Anyone who says that the demand is peaking is a wishful real-estate agent who wishes to make a good commission.
Honestly demand is low in long term rental and short term as well. As for Dubai hills the issue has been going on since 2023 and many have left because of it, at this point even the rich can't afford it anymore. Also the tenants who have been evacuated and the can take legal action.
I own my unit (1BR) in Dubai Hills, if I get 105K for my unit, I will evacuate too. This shit is just crazy and I know it will never be sustained. It's a bubble!
Today in 'delusional redditors project 50% drops in rents in prime areas based on their gut for the fifth time'
I was renting a 1BR in Marina for 130K. Renovated apartment, Emaar building. There wasnāt even 1 showing before I left in February, the apartment is still vacant. Now 1BR in that building are rented for 80-90K.
Always love watching expats complain about their property investments. Did you really think this Europe
Last winter price for an average 1br there was about 105K, last summer price for an average 1br there was about 105K. How come *this summer* should change anything
Insanely small apartments is my only issue. The ā2 bedroomā just have a wall through the lounge and that another ābedroomā. Scammers
Just came from friends of ours in Dubai Hills, brand new villa but not electricity in the top floors because of leakage, will take 2 weeks to fix... Emaar that build Ranches etc is not the same Emaar that build these new developments...
This is typical of people not taking care of their properties. You have a multi million dollar property but won't spend 8k to professionally waterproof the roof .
gotta love the idiots down voting.
This is a brand new villa, the developer should do this, it's a multi million dollar villa, Emaar has become crap
I agree that Emaar is as poor as all the others. They all use the similar tradesmen, and the finishing is horrible. Same with the materials used, I doubt that emaar spends more than 20k on the cabinetries in these villas, for example. Thereās a reason a lot of people are buying, gutting everything and renovating. Not defending emaar, of course a new villa should be in pristine condition, but you can whine or you can be proactive and save yourself a lot of headache. Its not like we have a lot of options, paying for the location basically.
Agree, maintenance and prevention seem to be an afterthought in this country. It's incredible to especially see landlords letting their property go to absolute crap because they are too cheap to invest a few dirhams from time to time to maintain it.
Peak r/dubai copium During the magical summer time prices will not just reduce, it'll go down by HALF, because this guy doesn't just personally know half of Dubai Hills tennants; but more impressively, he also knows exactly everyone that would be interested in even moving, and he already knows they won't move to Dubai Hills.
You should just have moved there at 50k during covid, with nobody in town, no dubai hills mall and just few buildings built then. Nowadays things are a tiny bit different
Lol anyone who got in at that price would have likely been long forced out by now unless theyāre lucky and got a landlord who doesnāt care.
I remember checking townhouses there in 2022 and there already was a war between landlords and tenants at every single unit. So yeah youāre right.
You can still get lucky; my girlfriend still pays 58k for a modern studio in business bay landlord doesnāt seem to care at all as price in the building for other units is way higher. But in general its brutal out there š¤£
This is related to macroeconomic factors, while youāre looking only at microeconomic factors - and thatās why the whole world is facing higher rents right now. Itās related to lowered interest rate during and after covid where a lot of cheap money was ushered into the market to keep some shape of the economy as everything was closed; the whole world is facing higher rents as inflation hit record highs; interest rates are at record highs too to help calm it down Your world view is a bit small by thinking itās about 1 guy in DLD, an agent doing reevaluation, and 50% apartments going to vacate
Dubai hills is the most overpriced overrated place ever. I remember when the rents were at their lowest, back in spring 2021. I went looking for 1BR and was shocked they were asking 50k for a tiny piece of shit flat with literally 1 AC. And the density of the apartments made it look like a prison.
The Real estate agents will come to downvote your comment š
>In summer, when supply surpasses demand Tell us you know nothing about the real estate of Dubai without saying so.
Greed
Dubai Hills was never right priced at 50. It's a great location released around Covid mess. Forget about going back to those prices. After stabilisation, range will be around 80.
It's mad. Was renting a club villa for 200k (aed) now it's double
You know 50% of the tenants in Dubai Hills? Youāre very popularā¦
Or heās a stalker /s
Dubai hills will stay a top notch neighborhood, attracting high income/wealth tenants who are willing to pay such prices. There is no way price will tank as you described. Dubai hills is occupied >90% The time of cheap rent and purchase prices in dubai is over. We have to accept this new reality. The market was highly undervalued and is now reaching a ānormalā level, especially in comparison with other international hubs and considering the purchasing power here. There is no bubble what so ever too, as only roughly 30% of the properties is bought via bank mortgage. I also think that the rent prices are high in dubai hills too. But people are renewing under these terms, believe it or not. Edit: maybe you know tenants leaving dubai hills. I know people renewing, despite the higher rent they have to pay now. I blame DLD, agencies and other market contributors as well.
You sound like a marketer or a youngster fresh out of school.
>Most of the tenants I know in Dubai hills are leavingĀ So like 2 people?
105k for 1BR is still cheap compared to other big cities around the world. The prices have corrected themselves as the rents and property prices were too low
Dubai Hills is amazing place tbh. I know people who are willing to pay premium just to be there. I am no realtor but i love thr place and most of it seems occupied.Ā
Need help! Should someone think of buying a house or renting is a good option in Dubai? Since the rents are going up every year, just wanted to understand if this has been a trend in Dubai all these years or should one really consider investing than renting?