Dubai rent relief: Prices expected to fall.

A number of global real estate consultancies have predicted rents to fall in 2015, but the Reidin Housing Market Sentiment Index Survey expects the decline in the first quarter itself.

The index result shows that sentiment of rental price is ‘moderately negative’, but for the rental volume is ‘moderately positive’ for the first quarter, which means rental transactions will be more compared to the previous quarter.

The sentiment of sales price and sales volume remain ‘negative’ while the overall housing markets professional sentiment is ‘moderately negative’.

In January, JLL, a real estate consultancy, said Dubai residents could expect rental declines this year, with even rent-free periods being offered to tenants. A week later, Knight Frank, a UK-based consultancy, said residential rents are likely to fall by five per cent, while property prices will be down by 5 to 10 per cent in 2015