Finding the perfect villa for rent in Dubai
Villa lifestyle:
A villa is the best living option for those who do not want to compromise on privacy. Designed for independent lifestyle, these residential units are most famous amongst individuals and families who enjoy life away from the hustle and bustle of Dubai’s city life. With the elite business class to cater to, Dubai offers few of the best and most luxurious villas around the globe. Another major reason for choosing a villa for rent in Dubai is because it gives the business class a temporary but much needed relief from work place stress. A villa is the second most preferred living option in Dubai; only second to apartments. According to stats, Dubai has way more apartments for rent as compared to villas for rent. The trend exists in already developed projects, upcoming projects and off-plan projects. A look into the demand dynamics explains this difference: Majority of Emiratis are expat business men and working class who are residing in Dubai because of official commitments. Such individuals are not interested in owning a property in Dubai, therefore they opt for renting an apartment. In addition to this, apartments are generally less expensive than villas because of higher occupancy ratio of the land. The overall cost of the residential unit is spread across the tenants, translating into lower rent expense as compared to renting a villa. Together, these factors lead to a higher demand for apartments for rent in Dubai. However, these factors are irrelevant to individuals and families which refuse to compromise on privacy and therefore, prefer owning or renting a villa. According to the most recent figures provided by the Dubai Statistic Center, there are 593 private villas and 1817 investment villas in Dubai. This shows that the number of villas for rent in Dubai are double the number of villas being used by real owners.
Villa architecture:
Since the twentieth century, Dubai has witnessed a massive influx of foreign investors and workforce. Dubai’s growing economy attracted investors and workers from all over the world to benefit from this seemingly stable trend. This influx of international workforce has brought in many cultures to Dubai. Today, every aspect of Dubai’s real estate and infrastructure reflects architectural ideas and inspirations taken from Arabian, European, Mediterranean and Western cultures. This amalgam of international tastes adds beauty and diversity to the type of studios, villas and apartments in Dubai. Now, many local and international architectural firms have started to work in public and private sector to cater to the growing demand for sophisticated living styles. Today’s customer is more aware, demanding and particular about the type of living option they opt for, whether it is to buy or rent a villa.
Luxury Villas:
A vast majority of the available villas for rent in Dubai fall into the luxury category. Such units are designed to appeal the elite class with sleek design, flawless furnishing, lush green outdoors and a fine neighborhood. Generally, luxury villas have 4 to 6 bedrooms with attached bathrooms, a maid rooms and separate entrances for staff and owners. 5 bedroom luxury villas have annual rent ranging from AED 180,000 to AED 400,000. Palm Jumeirah, Emirate Hill Villas, Frond C Palm Jumeirah Villa, Jumeirah Frond P Hills, Dubai Marina and Bromelia Villas are few of the most high worth villas in Dubai with a value of 12 million to 40 million US Dollars. Each one of these villas comes with a unique feature and distinct appeal. For instance, Frond C Palm Jumeirah Villas are constructed on man-mad landmass with an enchanting view of the Persian Gulf and Bromelia Villas offer an environment friendly construction with 80% green spaces which tranquilize one’s eyes.
Villa for rent for travelers:
With its metropolitan reputation, Dubai is visited by thousands of tourists every year. In the start of 2017, Dubai witnessed an 11% increase in tourist traffic (i.e. 11.58 million in 2017 as compared to 10.77 million in 2016 according to VisitDubai website). These tourists are driven in by the massive shopping malls, recreational opportunities and the extravagant hoteling options. In addition to the traditional hotel rooms, Dubai’s hospitality industry offers villas for rent to such travelers. These villas are designed to provide the feel of home, independence and privacy to the tenants. Palm Tropic, Luxury Holidays, Sandy Bay and Gateway Villa are examples of such luxurious living options. Unlike traditional hotel rooms, these villas are stand-alone units with bedroom, terrace, pool, kitchen and dining area to give a wholesome and cozy home-like feel. Some of the villas also offer a private beach area so tenants can enjoy a beach walk without any distractions. One can enjoy their stay in Dubai with a feeling of privacy and security they had back home. Such villas for rent in Dubai are best suited for travelling couples, groups and families.
Regulatory Environment:
Dubai’s real estate industry is at its early stages of maturity. In the past, this industry was dominated by landlords who enjoyed a strong position as compared to the tenants. Many landlords were locals or huge investment groups which had good ties with the authorities. On the other hand, the tenants were either locals or foreigners who had limited access to resources and information. This resulted in fraud and misuse of information.
While Dubai was undergoing economic reforms, the real estate industry also caught the eye of the government. As a result, proper rules and regulations were introduced to regulate the landlord-tenant relationship. Real Estate Regulatory Agency (RERA) was formulated to overlook the tenancy issues, address conflicts and ensure best practices. Since its inception, RERA has played an active role in resolving landlord-tenant conflicts by providing equal access to information and minimizing information asymmetry. In order to eliminate fraudulent practices, RERA also provides a list of registered real estate agents. Local and international stakeholders are required by the law to register with RERA before entering any tenancy contract. This practice helps to verify the credentials of both the stakeholders.
