Is anybody know how is the prospect of the rental income in this near future specially in this coming summer when everybody start to leave the country and probably some of them will not come back, is it still easy to rent out 2 bedroom apartment? Is the rental prospect will depend on the property location? And how the rule from Dubai municipality about prohibition of sharing accommodation will impact the rental income?
Rental income in my opinion will remain stable for sometime now and it does vary according to where your property is located. In high demand areas like Meadows, Marina, Mirdiff etc the rentals have stabilized now and it does not seem like if they are going to decline any further, on the contrary you might be surprised and start observing an upward trend in the latter part of the year.
Its easiest to rent out 1 bed and studio apartments as demand for these type of apartments is much higher than 2 or 3 bed apartments. Having said that its still not very difficult to rent out a 2 bed apartment. Could you please let me know where your apartment is located and perhaps I might be able to give you a better idea.
The rule about sharing accommodation has been in place for sometime and did not have a significant impact on the rental market.
Rental return in Dubai are still very high, almost 10% or above for most localities, so even if it goes down by 2% or so, its still much higher than the worldwide average of 4 to 5% so its a win win situation in either case.
JLT is quite a good location so you do not need to worry much. Rent will remain pretty stable in this locality and there is no speculation of any decline in the near future.
If your property is ready then I would suggest that you should go-ahead with renting it out now.
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