Expats to gain from rent falls in UAE?

Published: 10 August 2010

Expats in the UAE could benefit from significant rent falls in the UAE, according to a new report

CB Richard Ellis' latest figures show that rents in Sharjah and Ras Al Khaimah have dropped more than a third since the first half of 2008, Reuters has reported

Expats working close to the former could benefit as the emirate previously had some of the highest rents in the UAE, due to a strong commercial centre

In addition, it is close to Dubai – making it attractive to expats who are unable to afford the higher rents of the tourist hub

The property market analysts believe that rents could further decline with the arrival of new completions on the market

"Leasing and occupancy rates for both offices and residential properties in the northern emirates are likely to experience further declines during the second half of the year, with multiple buildings already complete and awaiting utility connections," the report states

Other emirates have seen less steep declines, with Ras Al Khaimah experiencing a drop of around 28 per cent