Empty property all over so why no drop in our rents?

This content was originally posted in 7DAYS UAE website at: Empty property all over so why no drop in our rents? Why rents are not going down? We keep hearing about empty apartments, people moving further out to get cheaper rents. But I notice even those rents are now increasing, only because of the increase in the demand for cheaper rents. If rents keep going up how can people afford them? Most people would have to share to manage these high rents. Salaries definitely aren’t increasing but everything else seems to be, new charges for this, that and the other. I would be curious to know exactly how many vacant apartments or villas there actually are. There are quite a few where I live alone. Yet you go by the RERA calculator and at the moment rents have risen 5 per cent. If salaries stay the same yet costs are going up how can people afford to stay here? And yes I am sure I might get the odd sarcastic comment from someone such as, if you don’t like it then don’t stay here. Before that happens I would also like to add. What would happen if all expats actually did leave? Who would clean the streets, drive the taxis for a 12-hour stretch, do the maintenance and cleaning… etc etc. Rant over. Rent payer, Dubai Read the original story at: Empty property all over so why no drop in our rents?