Russian influx drives up rental prices in Dubai

  • Date: 29-Mar-2023
  • Source: BBC
  • Sector:Real Estate
  • Country:UAE
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Russian influx drives up rental prices in Dubai

- Published

The months of February and March were tense for Aretha Pretorius.

For weeks, she and her husband Chris went around Dubai desperately looking for a new house.

They have lived in their three-bedroom villa located in the centre of the city since 2019. But last year the family received an eviction notice from their landlord saying he wouldn't be renewing the lease when it ended in March because he planned to move into the house himself.

They started their hunt by checking out properties in the same community but were shocked to discover that annual house rents were 75% higher than the $34,000 (£28,000) they had been paying.

They widened their search by scouting out houses in other areas across the city but failed to find a villa within a reasonable budget.

Finally, they signed up for a house that is substantially smaller than their current place and located a long way from the city centre but will cost them $44,000 - almost 30% more than the rent they've been paying.

''For weeks we went around like crazy people looking for a house. Eventually, we had no choice but to compromise. Now we will have to live in a smaller house and pay more," Aretha