One-cheque rents on the rise as many Dubai tenants stay put to avoid rising costs


Patrick Ryan
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Paying annual rent with one cheque is on the rise again in Dubai, according to a report.

And more tenants are deciding to stay in their current property, where there are rent controls in place, to avoid rising costs.

That was according to the Q3 2022 Market Report, from real estate company Betterhomes, based on figures released by the Dubai Land Department.

It found one-cheque payments rose by 8 per cent compared with last year.

With low supply and high demand, the power of negotiation currently lies in the landlord's hands and [they] can, therefore, push for single cheques.
Richard Waind,
Betterhomes

“With low supply and high demand, the power of negotiation currently lies in the landlord's hands and [they] can, therefore, push for single cheques,” said Richard Waind, group managing director at Betterhomes.

“In addition, higher rental prices across the market mean those who can afford it may opt for single cheques to negotiate a lower rental prices.”

Paying with one cheque is the most popular way to secure rent for the year, making up 32 per cent of transactions.

The next most common was four cheques, which represented 30 per cent of rentals, followed by two cheques (22 per cent), three cheques (9 per cent), five cheques (5 per cent) and 12 cheques (1 per cent).

Another property expert said tenants had to accept it was a landlord's market at the moment.

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Areas with the lowest rent rises this year — in pictures

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“Landlords are pretty much insisting on one cheque because the market is so competitive at the minute,” said Mario Volpi, sales and leasing manager at Engel & Volkers and a columnist for The National.

“That is becoming the norm. Properties where the landlord will accept multiple cheques can still be found but it is most likely they are existing contracts being renewed.

“Most landlords are looking for one cheque, or two at most, for new contracts or properties that are empty.”

Prices still on the rise

The report from Betterhomes said Dubai’s recent population growth continued to put pressure on today’s rental inventory and “we are seeing rapid price increases in the most popular areas, with occupancy across Dubai at a five-year high”.

While this represented good news for investors, it means tenants are having to look further afield for better value.

“Overall transiency in the rental market has dropped significantly as tenants look to stay put and renew, rather than face today’s prices,” read the report.

The area that had the biggest average increase in apartment rentals was Downtown Dubai, with the average cost of rent working out at about Dh155,000, representing a rise of 19 per cent from the previous year.

Dubai Hills had the highest rise when it came to renting townhouses or villas, with a rise of 31 per cent, with the average rent being valued at more than Dh247,500.

Huge rise in sales across Dubai

The report also showed there had been a significant rise in the number of property sales compared with this time last year.

Sales totalled about Dh52.4 billion in the first three quarters of the year, representing a rise of 61 per cent from the same period in 2021.

There were slightly under 22,390 transactions in Dubai during the third quarter.

Cheaper areas

The most sought after location for those looking for cheaper apartments to rent was Jumeirah Village Circle (JVC), according to a third-quarter report released by property portals Bayut and Dubizzle.

The average cost of renting a studio apartment there remains unchanged at Dh36,000.

One and two-bedroom flats average Dh51,000 and Dh72,000 in JVC, with asking rents increasing by up to 6 per cent.

Those seeking affordable villa rentals were most likely to look to Damac Hills 2, where prices have risen by up to 3 per cent for five-bedroom houses, which will set you back an average of Dh115,000.

Luxury rentals

Dubai Marina is the most popular location for those seeking luxury apartments to rent, according to the report from Bayut and Dubizzle.

A one-bedroom flat there will set you back an average of Dh91,000 while two bedrooms will cost you Dh139,000 and a three-bedroom apartment will average Dh209,000.

The same report stated that Al Barsha was the top location for luxury rentals in Dubai.

A six-bedroom villa there will cost you an average of about Dh460,000.

Where to buy-to-let

Dubai Marina is also the most popular area to buy a luxury apartment in the city, according to Dubizzle and Bayut.

The average sales price per square foot for flats in the district has increased by more than 2 per cent to Dh1,532.

JVC is also the most popular location for buy-to-let apartments, with a rise of about 2 per cent per square foot to Dh891 in the third quarter.

Villa sales

Those buying luxury villas are most likely to turn their attention to Dubai Hills, where the cost of a luxury apartment has risen by 3.36 per cent to Dh1,660 per square foot.

Damac Hills 2 is also the most popular destination for those looking to buy a cheaper apartment, with the sale price per square foot working out at Dh636, a rise of slightly under 4 per cent.

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Director: Magizh Thirumeni

Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra

Rating: 4/5

 

Silent Hill f

Publisher: Konami

Platforms: PlayStation 5, Xbox Series X/S, PC

Rating: 4.5/5

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It is thought that graphene could boost the useful life of batteries by 10 per cent.

Graphene can also detect cancer cells in the early stages of the disease.

The material was first discovered when Andre Geim and Konstantin Novoselov were 'playing' with graphite at the University of Manchester in 2004.

Cinco in numbers

Dh3.7 million

The estimated cost of Victoria Swarovski’s gem-encrusted Michael Cinco wedding gown

46

The number, in kilograms, that Swarovski’s wedding gown weighed.

1,000

The hours it took to create Cinco’s vermillion petal gown, as seen in his atelier [note, is the one he’s playing with in the corner of a room]

50

How many looks Cinco has created in a new collection to celebrate Ballet Philippines’ 50th birthday

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The hours needed to create the butterfly gown worn by Aishwarya Rai to the 2018 Cannes Film Festival.

1.1 million

The number of followers that Michael Cinco’s Instagram account has garnered.

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What can victims do?

Always use only regulated platforms

Stop all transactions and communication on suspicion

Save all evidence (screenshots, chat logs, transaction IDs)

Report to local authorities

Warn others to prevent further harm

Courtesy: Crystal Intelligence

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COMPANY%20PROFILE
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THE BIO: Martin Van Almsick

Hometown: Cologne, Germany

Family: Wife Hanan Ahmed and their three children, Marrah (23), Tibijan (19), Amon (13)

Favourite dessert: Umm Ali with dark camel milk chocolate flakes

Favourite hobby: Football

Breakfast routine: a tall glass of camel milk

RESULTS

5pm Maiden (PA) Dh80,000 (Turf) 1,600m

Winner Thabet Al Reef, Bernardo Pinheiro (jockey), Abdallah Al Hammadi (trainer)

5.30pm Handicap (PA) Dh80,000 (T) 1,600m

Winner Blue Diamond, Pat Cosgrave, Abdallah Al Hammadi

6pm Arabian Triple Crown Round-1 Listed (PA) Dh230,000 (T) 1,600m

Winner Hameem, Adrie de Vries, Abdallah Al Hammadi

6.30pm Wathba Stallions Cup Handicap (PA) Dh70,000 (T) 1,400m

Winner Shoja’A Muscat, Szczepan Mazur, Ibrahim Al Hadhrami

7pm Maiden (PA) Dh80,000 (T) 1,200m

Winner Heros De Lagarde, Szczepan Mazur, Ibrahim Al Hadhrami

7.30pm Handicap (TB) Dh100,000 (T) 2,400m

Winner Good Tidings, Antonio Fresu, Musabah Al Muhairi

In Search of Mary Shelley: The Girl Who Wrote Frankenstein
By Fiona Sampson
Profile

Cry Macho

Director: Clint Eastwood

Stars: Clint Eastwood, Dwight Yoakam

Rating:**

Tank warfare

Lt Gen Erik Petersen, deputy chief of programs, US Army, has argued it took a “three decade holiday” on modernising tanks. 

“There clearly remains a significant armoured heavy ground manoeuvre threat in this world and maintaining a world class armoured force is absolutely vital,” the general said in London last week.

“We are developing next generation capabilities to compete with and deter adversaries to prevent opportunism or miscalculation, and, if necessary, defeat any foe decisively.”

Company%C2%A0profile
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The story of Edge

Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, established Edge in 2019.

It brought together 25 state-owned and independent companies specialising in weapons systems, cyber protection and electronic warfare.

Edge has an annual revenue of $5 billion and employs more than 12,000 people.

Some of the companies include Nimr, a maker of armoured vehicles, Caracal, which manufactures guns and ammunitions company, Lahab

 

Punchy appearance

Roars of support buoyed Mr Johnson in an extremely confident and combative appearance

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Results

5.30pm: Maiden Dh165,000 (Turf) 1,600m; Winner: Al Battar, Mickael Barzalona (jockey), Salem bin Ghadayer (trainer).

6.05pm: Maiden Dh165,000 (Dirt) 1,200m; Winner: Good Fighter, Richard Mullen, Satish Seemar.

6.40pm: Handicap Dh185,000 (T) 1,200m; Winner: Way Of Wisdom, Tadhg O’Shea, Satish Seemar.

7.15pm: Handicap Dh170,000 (D) 2,200m; Winner: Immortalised, Tadhg O’Shea, Satish Seemar.

7.50pm: Handicap Dh185,000 (T) 2,000m; Winner: Franz Kafka, James Doyle, Simon Crisford.

8.25pm: Handicap Dh185,000 (D) 1,200m; Winner: Mayadeen, Connor Beasley, Doug Watson.

9pm: Handicap Dh185,000 (T) 1,600m; Winner: Chiefdom, Mickael Barzalona, Salem bin Ghadayer

AI traffic lights to ease congestion at seven points to Sheikh Zayed bin Sultan Street

The seven points are:

Shakhbout bin Sultan Street

Dhafeer Street

Hadbat Al Ghubainah Street (outbound)

Salama bint Butti Street

Al Dhafra Street

Rabdan Street

Umm Yifina Street exit (inbound)

THURSDAY'S ORDER OF PLAY

Centre Court

Starting at 10am:

Lucrezia Stefanini v Elena Rybakina (6)

Aryna Sabalenka (4) v Polona Hercog

Sofia Kenin (1) v Zhaoxuan Yan

Kristina Mladenovic v Garbine Muguruza (5)

Sorana Cirstea v Karolina Pliskova (3)

Jessica Pegula v Elina Svitolina (2)

Court 1

Starting at 10am:

Sara Sorribes Tormo v Nadia Podoroska

Marketa Vondrousova v Su-Wei Hsieh

Elise Mertens (7) v Alize Cornet

Tamara Zidansek v Jennifer Brady (11)

Heather Watson v Jodie Burrage

Vera Zvonareva v Amandine Hesse

Court 2

Starting at 10am:

Arantxa Rus v Xiyu Wang

Maria Kostyuk v Lucie Hradecka

Karolina Muchova v Danka Kovinic

Cori Gauff v Ulrikke Eikeri

Mona Barthel v Anastasia Gasanova

Court 3

Starting at 10am:

Kateryna Bondarenko v Yafan Wang

Aliaksandra Sasnovich v Anna Bondar

Bianca Turati v Yaroslava Shvedova

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%3Cp%3EHigh%20fever%20(40%C2%B0C%2F104%C2%B0F)%3Cbr%3ESevere%20headache%3Cbr%3EPain%20behind%20the%20eyes%3Cbr%3EMuscle%20and%20joint%20pains%3Cbr%3ENausea%3Cbr%3EVomiting%3Cbr%3ESwollen%20glands%3Cbr%3ERash%26nbsp%3B%3C%2Fp%3E%0A
MATCH INFO

Newcastle United 1 (Carroll 82')

Leicester City 2 (Maddison 55', Tielemans 72')

Man of the match James Maddison (Leicester)

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

RESULTS

Welterweight

Tohir Zhuraev (TJK) beat Mostafa Radi (PAL)

(Unanimous points decision)

Catchweight 75kg

Anas Siraj Mounir (MAR) beat Leandro Martins (BRA)

(Second round knockout)

Flyweight (female)

Manon Fiorot (FRA) beat Corinne Laframboise (CAN)

(RSC in third round)

Featherweight

Bogdan Kirilenko (UZB) beat Ahmed Al Darmaki

(Disqualification)

Lightweight

Izzedine Al Derabani (JOR) beat Rey Nacionales (PHI)

(Unanimous points)

Featherweight

Yousef Al Housani (UAE) beat Mohamed Fargan (IND)

(TKO first round)

Catchweight 69kg

Jung Han-gook (KOR) beat Max Lima (BRA)

(First round submission by foot-lock)

Catchweight 71kg

Usman Nurmogamedov (RUS) beat Jerry Kvarnstrom (FIN)

(TKO round 1).

Featherweight title (5 rounds)

Lee Do-gyeom (KOR) v Alexandru Chitoran (ROU)

(TKO round 1).

Lightweight title (5 rounds)

Bruno Machado (BRA) beat Mike Santiago (USA)

(RSC round 2).

Results

5pm: Maiden (PA) Dh80,000 (Turf) 2,200m; Winner: Gurm, Antonio Fresu (jockey), Eric Lemartinel (trainer)

5.30pm: Handicap (PA) Dh80,000 (T) 1,600m; Winner: Al Nafece, Al Muatasm Al Balushi, Mohammed Ramadan

6pm: Wathba Stallions Cup Handicap (PA) Dh70,000 (T) 1,200m; Winner: Ashton Tourettes, Adrie de Vries, Ibrahim Aseel

6.30pm: Arabian Triple Crown – Group 3 (PA) Dh300,000 (T) 2,200m; Winner: Ottoman, Adrie de Vries, Abdallah Al Hammadi

7pm: Liwa Oasis – Group 2 (PA) 300,000 (T) 1,400m; Winner: Hakeemat Muscat, Szczepan Mazur, Ibrahim Al Hadhrami

7.30pm: Handicap (TB) Dh80,000 (T) 1,600m; Winner: Ganbaru, Antonio Fresu, Musabah Al Muhairi

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Electoral College Victory

Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate. 

 

Popular Vote Tally

The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.

Updated: October 21, 2022, 5:04 AM