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Are you moving?

April 26, 2009 2:35 by Aarti Nagraj

A few months ago, a friend of Kipp’s was planning to shift homes and found a one bedroom apartment in Al Qusais for AED60,000 – AED70,000 a year. He thought he clinched a deal, but now, he has found flats in Bur Dubai and Karama, which were previously more expensive, at around the same price. In fact, he is now waiting for a new building in Bur Dubai scheduled to enter the market in the next two weeks where one bedroom apartments are going for AED50,000 a year. This latest offer is also tempting another friend to move out of his apartment.

A report in Emirates Business quotes analysts as saying that with falling rents, many people will be shifting into Dubai from other emirates, and many Dubai residents are relocating within the emirate.

Do you see that trend happening around you? Are you planning to take advantage of the lower rents and move into a better place?

Tags: changing, Dubai rents, falling, houses, lease, property