Dubai people, if you were thinking that rent was going to go up in 2020, then think again.
In preperation for Expo 2020, the rent in Dubai is expected to fall for all the Dubai residents.
In the first three quarters of 2019, ValuStart published data showing that annual average rent decreased by 9.2%, while in 2018 and 2017, it decreased by 8.4% and 9.1%. In the last three years, however, average Dubai rents have fallen by about 27% and are expected to drop similarly in 2020.
All the locations for the apartments that rent has dropped dramatically during the first nine months of 2019 are Dubai Production City, Discovery Gardens, Jumeirah Lake Towers, Discovery Gardens and Dubai Marina.
As for the villas in Dubai; Arabian Ranches, Jumeirah Islands, Jumeirah Golf Estates, Jumeirah Village and Silicon Oasis fell between 13.7% and 7.1% between January and September.