Dubai has been for a long time a home to many foreigners mainly because of its active social life, tax-free income for foreigners, and a strong economy. As the number of expatriates continues increasing, the rental property market in Dubai is shifting to accommodate the ever-increasing demand from this class of people. For instance, Luxury penthouses for sale in Dubai are attracting high-net-worth expatriates seeking upscale living, while other property trends are emerging for a diverse range of expatriate needs. Here are some of the key trends shaping rental properties for expatriates in Dubai:
Currently, more expatriates particularly those serving short-term tenancy terms or contracts are demanding flexibility in their rental agreements. The desire of many expatriates for flexibility in their rental agreements due to potential changes in their circumstances has made traditional long-term leases of 12 months and above less popular. In response, landlords are increasingly offering short term villa rentals in Dubai and serviced apartments to cater to expatriates seeking temporary accommodations.
Due to the fact that expatriate life is constantly in a state of mobility Fully furnished apartments for rent in Dubai are in great demand. These properties provide the convenience of moving in without the hassle of purchasing or transporting furniture, making them particularly attractive to those new to the city. The property developers and landlords have over time embraced a new trend of providing well-finished well equipped beautiful units in tune with the preferences of the expatriate population. This trend is quite evident in the central business districts such as Downtown Dubai, Dubai Marina, and Jumeirah Lakes Towers; where furnished units are now dominating the market.
Perhaps one of the most important factors that expatriates consider in selecting their places of residence is the neighborhood feel or access to amenities. Buildings with facilities like home fitness centers, indoor swimming pools, and community gardens are alluring given such arrangements. Arabian Ranches, The Springs, and Mirdif are some of the gated communities that have many families investing in them; they have a suburban setting and close-knit community. At the same time, individuals, including single persons and young working populations, seek to Buy one bedroom apartment in Dubai in high rises within the urban areas due to the proximity of their workplace, leisure and social activities.
Co-living appears appealing more to young expatriates who are in search of affordable accommodation and an opportunity to interact socially. Co-living spaces are living spaces where all the amenities are shared but each occupant has their own personal bedroom or group of bedrooms. It is specifically active among young expats, especially the millennials and those who work online known as digital nomads, due to the network opportunities, social interactions, and affordable cost of living. We see this trend especially in Business Bay and Al Barsha among other regions, that has seen several co-living projects being developed in the last couple of years.
Over the years, due to rising awareness of environmental sustainability around the world, expatriates living in Dubai have also developed the same concern and demand for quality and sustainable rental properties that are available in the market. Gone are the days when energy efficiency, sustainable construction materials along other environmentally friendly features of a building are merely considerations. To meet these demands developers have adapted to the aspects like; Solar panels, energy-efficient appliances, and recycling stations among others in their new projects. This trend is most apparent in neighborhoods such as Dubai Sustainable City, which is integrated with innovative sustainability technologies and features contemporary amenities.
The rental property market in the UAE particularly Dubai is in the process of responding swiftly to the dynamic market demands of the current expatriate community. Dubai offers a wide range of options to fit every expat's lifestyle, from green and community-focused living spaces to Rent to own apartments in Dubai. Such trends go on shaping the market in such a way that expatriates would be likely to find all sorts of accommodation options, which would suit their lifestyle better.
