Lower Rents in Dubai

The world has seen the rise and fall of Dubai's mighty real estate market. Dubai's prime lands before the recession were selling like hot pancakes. Now that the bubble has burst, Dubai is left with numerous finished and unfinished metal buildings and other concrete construction.

Some well-known real estate companies here in Dubai has dramatically slashed the rents to 30-60% because of the lack of demand to fill the numerous empty commercial and residential buildings. Classic example is the building where we are staying. We paid AED 73,000 per annum as rental fee for our flat in 2007. That is rough estimate of US$ 21,000 in one year! That's where our money is going month after month. Then when recession hit, our rental fee was reduced to AED 63,000. It was further reduced when we renewed our contract last year to AED 48,000. That's 35% off the original contract leasing rate we signed for.

We are expecting a further reduction this August when we renew our tenancy contract. Let's face it, the supply and demand is now tilted and the real estate boom is no longer making a loud bang.

Drip! Drop!

I cannot believe that my flat is showing signs of wear and tear already when we've only been in this place for 2 years. This was a new building when we moved in. Seeing the paints chipping, the door hinges un-hingeing and the kitchen faucet dripping drives me up the wall!

I tried calling the "watchman" (the person assigned to take all possible verbal abuse from the tenants *wink*) but I think he's off. If I wait another day without doing something to these, I might just go mad. So, I'll drive to the nearest hardware tomorrow and will ask hubby to fix the drippy faucet first.

Breathe Again

School is "unofficially" over! Yehey! Well, it's not exactly off yet because my daughter has to take her extra-curricular activities in school although it is already optional. We decided to sign her up since she loves arts and crafts.

I can finally breathe again after my short hiatus from blogging. Honestly, I feel like I enjoyed the brief "lull" in my blogging activity because I had time to focus on my daughter's studies and on my health.

I miss writing and visiting my blogger pals who I hope are not mad for my lack of comments and the round of visits. I will bounce back soon. I just need to do more mommy duties before my daughter goes to Manila for her summer vacation. Apart from that, I have a messy room to clean, a closet-full of tight and unworn garments taking unnecessary space, school supplies to donate, books to keep on the shelves and flat-hunting before August comes.

Yes, my hands are full but at least school's over.