Bennett1

Are rents in AD not coming down with the number of people leaving? Or is that only really happening in Dubai? We are due to come out in May and I was hoping (praying) the rental situation may have eased.

Any thoughts?

Foxes

As far as I am aware that have not been any major job cuts in AD as yet - they have all been in Dubai. If anything, the Dubai job cuts have led to a dearth of added pressure to to the AD housing scene as ex-pats are looking to AD to prolong their stay in the UAE. The main problem is the lack of quality supply in AD as the new developments will not be ready for other 12-18 months. I have not seen rents fall in AD and do not expect to until the new developments come live imho....

weescot

I am not excited and it was not 295. It was 260 and they have a large, mature garden.

the point is the rental market may still be bad, but at least it is not as crazy as it was last year, there are places available and you can negotiate rents down. that is a definate change in the right direction - which those relocating might be interested in.

busybee2

there has been cuts in alor and other construction related companies and i fear next week there is going to be another wave and this time a very big local company but we will see if it gets into the public domain.

dxb is so totally different to ad, ad is owned by locals dxb is owned by foreigners and so expectations of rents are different. dxb has so many empty buildings and still loads being built (always had compared to ad) so you have more housing stock to begin with. dxb houses are much better than some of the ad ones. yes people have lost their jobs in dxb and are looking to ad but what is happening now is people are commuting more from dxb to ad.

commander

260 for a 3 bed with a garden. Bargain, cheap as chips...

Jeez, can people cast their minds back just 2 years ago and compare

busybee2

yeh 120 was the going rate

Bambi in Abu Dhabi

No way was a 3 bed with garden 120 2 years ago!

Blue Cat

convert it into sterling and you will crap yourself

busybee2

yes they were... in the past villas were 120 and compounds were a little more perhaps 140 and that was it

weescot

Paul Eric - for what it is worth, most people I have talked to that have reloated in the last 6 months are getting allowances to cover current market rates in AD - private and government. some have had to push this more than others. Yes, rents have gone up at a shocking pace, but it is becoming a vicious circle and employers have had to pay to cover if they want "bums on the ground". You can PM me if you want any other insights and recent experiences I have heard about. good luck.

Foxes

Yes you are correct about ALOR, slipped my mind ! Would be interesting to see if there are other companies in AD that have 'confirmed' laid off staff. That would be a good indicator of potential changes to housing crisis imo....

busybee2

watch out for next week.

busybee2

a lot of the construction/contracting companies are now cutting housing allowances. or they are making people move to dxb for eg. this is because their clients are not paying their bills and so they have staff but not necessarily the money coming in etc.

soukie

What does your crystal ball say BB? One thing for sure is that the ALOR figures are dramatically more than published!

busybee2

well my crystal ball is telling me that perhaps its going to be the a next week