Dubai Marina Rental Fees falling Down: Community Owners Jacks it up

Community villa owners are jacking up their rental fee despite of the 4% drop of today’s quarter in Dubai’s real estate market. No matter, experts are still optimistic about the real estate future in Dubai Marina. This is because of the significant reduction in the percentage of the drop. It is such a small percentage as compared to last year’s 10% drop in rental fees. Community owners on the other hand have no right to increase the rental fees for their own personal gain. Experts said that this move could only hurt them than do them any good Leasers are now worrying that by the time the true increase happens, their rental fees will substantially soar up unreasonably. On the contrary an owner jacking up their rental fee is not the right way to get a quick recovery. The reason why they do this is because they are seeing real potential in Dubai’s economy. Not to mention a real soar in the number of British and American investors currently residing in the country. The rental rate will not just stabilize but will increase significantly by the end of the year or the first quarter of 2012. Thanks to the location, the quality and the affordability of Dubai Marina real estate. Today, more and more residents are encouraged to move from small apartments to premier location. Even the Dubai’s International airport is seeing pretty much higher traffic today as compared to last year. Visitors from all over the world are really enticed to visit this magnificent country and most of them stay for good. It looks like Dubai is really moving further forward than what experts have predicted. And as for investors, a Dubai law firm conducted a survey where 90% of the respondent said that they wanted RERA (Real Estate Regulatory Agency) to penalize developers who does not provide owners with yearly accounts for service charges. They claim that reducing the service charges will help the realtor to witness a much quicker recovery.