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Al Raha Rents - Transparency

Al Raha Rents - Transparency

Old Jul 13th 2009, 1:54 pm
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Default Al Raha Rents - Transparency

Hi All,

Does anyone know what the going rate is for 3 and 4 bedroom villas (without pool) and townhouses are at the moment in ARG? I'm hearing lots of different rents for the three bedroom villas for example. One agent is saying AED240k another AED200k. I've also heard that the 3 bedroom townhouses are going for AED175k.

I was one of those who paid through the nose last year (AED350k) for a 4 bedroom townhouse and don't want to pay more than 'market', such as it is, this time round. I suspect that there are many others in a similar situation. I appreciate that each landlord sets his or her own minimum rent but I think it would be useful for everyone to share as much information as possible
(even hearsay) on the rents in order to gain some degree of pricing transparency.

Mangrove, Seashore and to a lesser degree Sas Nahkl would be great alternatives but the impression I get is that landlords in these developments want rents that greatly exceed those available in ARG!

Any thoughts or input is most welcome.

Thanks
PapaDoc.
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Old Jul 13th 2009, 7:36 pm
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Default Re: Al Raha Rents - Transparency

Hi
A friend of mine has just renewed the lease on her 4 bed townhouse in ARG for 240K AED per year.
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Old Jul 14th 2009, 5:15 am
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Default Re: Al Raha Rents - Transparency

Thanks for the response. That is useful to know. This is just the sort of information that needs to be exchanged. My landlady is also asking AED240K to renew but I have been told that a new lease on a 4 bed townhouse would be around AED220k.

Thanks again.

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Old Jul 20th 2009, 10:50 am
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Default Re: Al Raha Rents - Transparency

To those in AD who are interested. Based on responses direct from landlords/ladys and agents and information received from those who are also looking or renewing at Al Raha Gardens who I have been in contact with, the following rents are achievable (depending, of course, on the individual landlords) with some haggling:

3 Bed Type A Villa (downstairs bedroom) - AED 200,000
3 Bed Type S Villa (downstairs study and 3 upstairs bedrooms) - AED210,000
4 Bed Townhouse (two storeys) - AED 210,000
4 Bed Villa (no pool) - AED 230,000
4 Bed Villa (pool) - 250,000

I have been looking at villas and townhouses and, generally speaking, the newer phases are cheaper.

Anyway, I hope the above helps. Needless to say, a lot of families are moving out and there is a strong expectation that rents will drop further. I'll keep you posted if I receive any further information. Of course, if you have any information to share please don't hesitate.

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Old Jul 20th 2009, 6:48 pm
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Default Re: Al Raha Rents - Transparency

heard of a four bed with no pool at 200k today.
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Old Jul 21st 2009, 5:10 am
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Default Re: Al Raha Rents - Transparency

Outtatouch,

Thanks for the information. Do you know if the four bedroom is villa or townhouse?

Thanks
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Old Jul 21st 2009, 10:36 am
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Default Re: Al Raha Rents - Transparency

I know of someone who is paying AED72,000 for a 3bed in. Mind you he happens to be one the luckiest people I know.
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Old Jul 21st 2009, 10:39 am
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Default Re: Al Raha Rents - Transparency

Originally Posted by Darkwan View Post
I know of someone who is paying AED72,000 for a 3bed in. Mind you he happens to be one the luckiest people I know.
well i am assuming that he is being subsided along the way..... as you would have only got that price way back in the golden days for a 3 bed villa.
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Old Jul 21st 2009, 10:43 am
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Default Re: Al Raha Rents - Transparency

72,000 seems incredibly low! Is it payment in cash plus payment 'in kind' on top (or below). Seriously, do you know what type of 3 bedroom he or she has and in which section (Yasmina, Sidra, Mirza etc.)?

Thanks for the info.

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Old Jul 21st 2009, 11:09 am
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Default Re: Al Raha Rents - Transparency

Originally Posted by PapaDoc View Post
72,000 seems incredibly low! Is it payment in cash plus payment 'in kind' on top (or below). Seriously, do you know what type of 3 bedroom he or she has and in which section (Yasmina, Sidra, Mirza etc.)?

Thanks for the info.

PapaDoc
It is low. Fortunately for him it's an all cash payment. It's in the section nearer to the Khalifa city police station.
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Old Jul 21st 2009, 11:19 am
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Default Re: Al Raha Rents - Transparency

Originally Posted by Darkwan View Post
It is low. Fortunately for him it's an all cash payment. It's in the section nearer to the Khalifa city police station.
Darkwan,

That is excellent. Your friend is a very lucky man. Would you or your friend be able to send me a personal message with the landlord's contact details?

To other interested Abu Dhabi residents,

I just found out that the minimum 'market' rent on the 4 bedroom townhouse (3 storey) is AED180,000.

Hope this helps.

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Old Jul 21st 2009, 1:32 pm
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Default Re: Al Raha Rents - Transparency

You are making me very depressed reading this. Moved into 4 bedroom villa in March. 300,000 . Do you think rents will be still this low next March when it comes time to re-up?
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Old Jul 21st 2009, 2:00 pm
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Default Re: Al Raha Rents - Transparency

Difficult to tell. What is certain is that there are hundreds more villas that are waiting to come on stream (i.e. built but not released for rental) or that sit unoccupied. I doubt, given the economy, people leaving and the alternative of renting in Dubai for significantly less (even with the present relatively 'low' rents at Al Raha), that the rents will increase and fully expect that the rents at Al Raha will continue to fall.

The only reason the rents haven't fallen further is due to a concerted effort by Aldar/Hyatt Real Estate to officially and aritifically keep rents above AED200,000. These efforts lead to a relatively small pricing difference between the properties as prices drift downwards to the Aldar/Hyatt pricing floor (e.g. the difference between 3 bed villa (type s) and a significantly bigger 4 bed villa (without pool)). The only thing that would raise or stablise rents would be the completion of the supermarket, pool and other promised communal facilities. But there is no danger of that happening in next year or so, if at all!

Like you, I live in Al Raha Gardens and I see at least a few families moving out every week (admittedly, I have seen a smaller number moving in). I think a 'fair' price for the 4 bed villa (without pool) should be about AED170,000 and I think they were approximately this price when they were initially released for rent in 2007. If I were a betting man and I'm not, I believe that they will return to a similar price (<AED200,000) by the year's end.

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Old Jul 21st 2009, 7:48 pm
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Default Re: Al Raha Rents - Transparency

Originally Posted by walshisland View Post
You are making me very depressed reading this. Moved into 4 bedroom villa in March. 300,000 . Do you think rents will be still this low next March when it comes time to re-up?
Just to make you feel better - I know someone who is paying 380,000 for a 4 bed - no pool (contract not up for renewal until Nov!)

Last edited by soukie; Jul 21st 2009 at 8:07 pm.
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