Dubai Rents are finally Coming down !
I am tried of apologizing , for my laziness to you people .So we wont go on the same road again.
After an exponential rise in the rent in residential units over the past few years the rents are finally coming down. The rent drops are noticeable in the big and new buildings.
Reasons could be many . But the way I look at it , its the whole supply & demand law. Heaps of people have left the country , consequently lots of residential units have got vacant. So the supply surpasses the demand and the rent goes down . ( Finally… )
Many of my sources have told me that lots of people are leaving this summer. Labor camps are getting empty as many construction companies are going out of business due to the current financial situation. People are ‘Canceling’ their visa and telling this city of gold a ‘ Good bye ‘.
There was a speculation , that one of the main Indian Schools in Dubai , the Indian High School has thousand of transfer certificate applications. It can be clearly inferred that a lot of people are leaving this summer.
The Ministry of Social Affairs has a completely different view point about this . They say that the number of people leaving the country is equal to the number of people entering it. So they say , it doesn’t really matter. The population is in a equilbrium.
I don’t know why people are coming here at the first place. No one is really hiring . The big companies are actually kicking out people.So where exactly are the new people going ? where are they getting employed ?
You look at it at a teen’s perspective, its disastrous ! The only little fair scope of employment we had was with the big companies . So now its all on your contacts. You’ve got a social base , u ll get hired.
lets keep our fingers cross and See what happens .