Better Homes Sees Best Leasing Month Ever!

Contrary to the worries of a massive exodus this summer, Better Homes celebrated its best month ever in August, with more lease transactions than any prior month in company history.

While sales volumes in Dubai have been moderately picking up over the past several months, leasing has been very busy. In fact, August enjoyed more than twice as many transactions as many months during early-mid 2008, when market-prices were still climbing.  August doesn’t seem to be an anomaly, either, because May, June, and July all had relatively strong figures.

Some individuals and families have left for the summer, and it remains to see whether they will come back or if they are gone for good. However, there has been a significant inflow of new residents to the Dubai rental market.  Internal records indicate that a third of these have been new entries from the UK, Europe and the US, who are mostly mid-level managers, a third from outlying emirates, and a third are current residents who are shifting internally as district prices drop. 

In most communities, rental prices have stopped falling and are remaining flat. The most popular communities in [1] Dubai for rent remain Dubai Marina (including JBR), Bur Dubai, The Springs, and Trade Centre. Top communities for sales are Green Community, Dubai Marina, The Springs, and Jumeirah Village (which has been gaining strong momentum in recent months).

To see current properties available for rent, [2] click here.