With vibrant cultural scenes, thriving startups, and epic tourist spots, Abu Dhabi is your next destination. The UAE’s bustling capital is brimming with exciting events, cuisines that inspire and beaches that make you feel at ease. What’s more? The real estate industry is going on the radar these days.
While we can’t deny its profitable potential, you must prioritise your budget and requirements. Regardless of the excitement, if you’re not up for a permanent stay, start seeking residential properties for rent in Abu Dhabi. But why? Keep reading the guide to find out.
- Short-term Commitment
Only a few people move to Abu Dhabi for a longer period as some only visit for a quick work trip. The majority intend to return to their home countries once the work is done. For such residents, renting a property seems more viable, even if they have the finances to invest here. As many organisations here also provide the employees with accommodation, we’re more likely to be attracted to this cause.
- Ease of Relocation
New developments are common in Abu Dhabi, but it’s been a major reason for newbies arriving in the city. Also, it is a good idea to stay somewhere for at least a few months before purchasing it. After all, you might not like the surroundings or the interiors. In this way, you can terminate the contract and move to a better accommodation.
- Lack of financial Risk
Regardless of the versatility that the real estate industry of Abu Dhabi has been showcasing, fluctuations in the market can occur. In some cases, those who invested in freehold developments might have gotten away with a good deal. Woefully, many foreigners have lost huge sums as the projects were delayed for years and later abandoned. While situations have changed, how can you be sure it won’t happen again?
- Better Liquidity
As a tenant, you must pay a security deposit and rent altogether. If you have a financial problem, you can terminate the contract and get a significant part of your cash deposit back. Situations like these don’t require any additional payments. On the other hand, liquidating an investment is equally daunting. Even in financial crises, you must make monthly mortgage payments, or the bank will seize the property. The only way out is to look for a buyer, which can be hassling.
- Well-maintained System
Almost every tenant feels they’re at the mercy of their landlords, yet that’s not true, at least in Abu Dhabi. Once you get the keys, the landlord can’t make any changes to the property without legal notice. Nor can they show up on your door randomly, and you can bid them goodbye right away.
Now that you’ve perceived the benefits of renting, you know what to do upon visiting the city. With that said, we do not doubt the power of investment, but while considering a short-term stay in the town, renting seems appropriate, no? So, when you’ve signed a rental property, ensure you leave with enough time to experience Abu Dhabi’s stunning landscapes.