Tuesday, 02 January 2024 12:17 GMT

Lower Rents, More Options: When Is The Best Time To Relocate In The UAE?


(MENAFN- Khaleej Times)

The property market in the UAE sees a surge in rental activity every August, as residents take advantage of lower rents, vacant properties, and the school holiday window to plan their move.

According to realtors, the summer break presents an opportunity for many families to relocate without disrupting their children's studies. And with landlords looking to fill units quickly, often offering competitive rates, this combination of practical and financial incentives has made August one of the most active months for home shifting.

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According to Raif Hassan Ikkeri, founder of Emaan Properties, the summer months, particularly July and August, are attractive to tenants for multiple reasons.“People expect rentals to be lower during July and August, as many families vacate homes, and owners are looking for new tenants. An apartment rented for Dh100,000 the previous year might go for Dh115,000 in the new contract, but some landlords, eager to fill units quickly to cover EMIs, rent them out for just over Dh100,000 or even below that figure,” he said.

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This creates opportunities for tenants to secure lower rates.“Due to this, many tenants will hold onto such leases for two to three years to benefit from reduced rents compared to the current market. Others, however, wait a few months and manage to secure higher rental income,” added Ikkeri.

The summer holiday cycle also plays a role.“A lot of people go out of the country starting in June. Some vacate in June itself and find a new place in June or August, moving in by late August or September. By skipping one or two months, they even save on rent,” Ikkeri said.

However, relocating comes with its own costs, around Dh3,000, so those who prefer moving annually often opt for furnished apartments for easier transitions.“Many tenants prefer furnished apartments, as they would want to relocate every year or maybe every 6 months. So they just pack their bags and move to another unit,” said Ikkeri.

Preferred neighbourhoods for August moves include Damac Hills and Dubai Hills for townhouses, and Business Bay and Dubai Marina for short-term stays.“Most private schools in the UAE reopen in late August or early September, so families prefer to settle just before school resumes, making mid to late August the last window to complete a move,” Ikkeri added.

Mohammed Hashmath Raza, currently working as a sales manager at The Heart of Europe, said that the majority of families wanting to relocate prefer the summer season.“June to August is the peak season for relocations, particularly among families. Around 70 per cent of those who want to move prefer summer to avoid disrupting school schedules,” said Raza.

“According to the available data, over 372,000 rental contracts were signed in summer 2024, making it one of the busiest seasons for real estate transactions and rentals. The belief was that summer slows the market. But it actually boosts the rental market,” he said.

Raza mentioned that the three main reasons for relocations during this time are school openings, lease expiries, and families returning from summer travel.“The weather also starts to change by the end of August, which makes it more comfortable for moving so that the winter season can be spent at a new place,” he added.

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