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Expats living in Dubai are hopeful that the emirate’s economic difficulties will have a deflationary effect on property rental prices, the Economic Times reports.
As 2009 comes to an end, many expats are hopeful of renegotiating a more competitive deal with their landlords ahead of the January deadline for rental payments, the paper claimed.
Vijayan Nair, a long-time Dubai resident, told the paper there is no logic to maintaining rents at current levels as they are not reflective of the economic conditions in the emirate.
"The landlords are holding firm on the rentals, hoping to extract the most, but the tenants are calculating that rents have to fall steeply in January when the real picture emerges," he said.
Although cheaper rents may improve affordability in Dubai, those planning a move to the emirate may also be able to protect themselves against potential healthcare costs with an expat medical insurance policy.
Doing so may afford access to Dubai’s leading private healthcare infrastructure.
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