A 10 to 20 per cent drop in rents is healthy for the Dubai property market following a four-year rally, said a top developer.
Rizwan Sajan, founder and chairman of Danube Properties, expects a correction in rents next year after a double-digit increase since the Covid-19 pandemic.
“Rental correction might come around 10-20 per cent next year, which is required and healthy because rentals have gone very high. A 10-20 per cent rental correction will help the market as investors are coming here due to what is happening around the world. Dubai benefits whenever there is uncertainty in the world. But at the same time, prices and rents should not go too high,” Sajan told Khaleej Times in an interview.
