Trend for Dubai property rents to be paid upfront

16/05/2011 - Dubai Property News Posted by Bob Brunskell
Trend for Dubai property rents to be paid upfront
There is an increasing trend for Dubai property rents to be paid one year upfront, giving tenants a discount.Emirates 24/7 noted that this is particular trend is found in Discovery Gardens in Dubai, with property owners offering discounts of up to two months rent-free if tenants pay for one year in a single cheque.Government-owned developer Nakheel if offering studios in Discovery Gardens for Dh25,650 if paid in one, while paying in six-month chunks will see a slightly smaller discount of Dh26,350 a year.It also suggested that the trend could soon branch into other residential districts of Dubai, including Dubailand, Marina, Jumeirah Lake Towers, Sports City and Motor City.Discounts are largely focused on lower-end properties.A recent report from Cluttons, highlighted by the news provider, found that rents in the lower-end market fell in the first quarter of 2011 by eight to ten per cent compared to the previous three months.