Revealed: Where rents are falling in Dubai

Revealed: Where rents are falling in Dubai

Rents in Dubai have fallen as low as 21 per cent in the third quarter 2020 as contraction in income forces considerable movement in the rental market.

Real estate consultants say that as a result of heavy movement of tenants, landlords have been more flexible, willing to negotiate lower rents and flexible lease terms upon renewals to retain tenants.

"This has led many tenants to remain in their current premises as they have been able to achieve rental savings upon negotiations while avoiding uncertainty and additional moving costs," said Prathyusha Gurrapu, head of research and advisory at Core.

Rents in Dubai Sports City dropped 20 per cent in Q3, the highest, followed by Dubailand (18 per cent), The Greens and The