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Dubai: When does a Dh1.65 million rental deal on a villa in Dubai represent a bargain of sorts? Answer: When comparable homes in the neighbourhood are asking rents closer to Dh2 million.
It was last month that a US citizen signed up for a six-bedroom Signature Villa on the Palm at Dh1.65 million, making it the costliest rental in Dubai during November. It could well be the biggest rental transaction for the whole year as well, with the Palm having earlier recorded one for Dh1.4 million.
These and other transactions completed recently for super-luxury homes on the Palm and at Dubai Hills and elsewhere at least confirm one detail – that at the top end of Dubai’s property market, demand and deals are still happening. It could improve further as Dubai and the UAE introduce more regulatory changes to attract entrepreneurs and those scouting for a destination to lead their post-retirement lives.