Tenants in Ajman demanded landlords and real estate office managers to respond to current conditions, by reducing rents, and not to stick to the levels prevailing before the Corona crisis, to help them overcome the repercussions of the current crisis.
For their part, real estate reported that the reports indicate the stability of rental values in most areas of Ajman, since the beginning of the "Corona" crisis, stressing that the rents have not changed since four months, despite the decrease in demand.
Rental values
In detail, the tenant, Ali Zaidan, said that the landlords are still adhering to the rental values for the period before the Corona crisis, as if nothing happened, although the repercussions of the current crisis affected all sectors, adding that his salary has been reduced by 50%, and that he is forced to renew the lease in The current time, when he contacted the building manager, he refused to reduce the rent.
The tenant, Omar Al-Otaibi, said that the landlords must take into account the conditions of the tenants at the present time, considering that the renewal of the lease is the most important thing he currently occupies, due to the landlord's adherence to the previous rental value of the contract, which is not commensurate with him, because his company reduced his salary by 25%.
Khaled Sawan added that the problem lies with the real estate manager, who does not want to lose his contract with the building manager, forcing him to pressure the tenant to accept the current rental values, despite the current conditions experienced by all parties.
The tenant, Mohammed Thebani, confirmed that he left his job a while ago and the property manager was chasing him to renew the lease, and when he asked him to reduce the rent he refused, asking the responsible authorities to intervene to reduce the rents in certain proportions, commensurate with the amount of damage that affected a number of tenants.
Demand slipped
For his part, Hani Abadi, director of the «Al Nashmi Real Estate Management» office in Ajman, said that “despite the rents sector in Ajman affected by the crisis (Corona), where the demand decreased significantly, the prices did not move downward in parallel with the decline in demand, where The rental values have remained constant. ”
He expected rents levels in Ajman to witness a further price correction process during the next six months, so that the imbalance between prices and demand in the market is addressed.
Ajman rents
For his part, head of the «Sky City» Real Estate Office in Ajman, Ahmed Sultan, confirmed that «Ajman rents decreased in some areas by up to 5%, which are the new areas, but many areas where rents are still fixed, and it is noticeable that there is a significant decline in Demand for rents ».
Sultan said that "rents in the old areas of Ajman, for the residential unit consisting of a room and a hall, ranged between 16 and 20 thousand dirhams, according to the age of the building and its area, while for the two rooms and a hall ranged between 22 and 26 thousand dirhams, while for the three rooms ranged between 28 and 34 thousand Dirhams, which are the same rates as before the current pre-crisis period.
In turn, the manager of Al-Jaddaf Real Estate Brokerage in Ajman, Mohammed Al-Ahmad, said that there is stability in rental values in all regions of Ajman, and that prices are at their levels for the period before the current crisis, despite the low demand for rent, especially with regard to demand for Housing units".
Al-Ahmed indicated that the landlords' response to tenants is focused on postponing rental checks, not on reducing rents.
Stability of rents
According to a report by "Bayot" website, about Ajman rents in the first quarter of this year, that the Emirate of Ajman has witnessed in general a stability in the rate of real estate rents, and Al Nuaimiya area has remained at the forefront of the list of residential areas most in need of renting apartments in Ajman, due to the stability of the average annual rent For its real estate since the fourth quarter of 2019, as the average rent for a studio in Al Nuaimiya is about 15,000 dirhams annually, while the average rent for a room and lounge apartment is 20,000 dirhams per year, and the average rent for a two-room apartment and hall is 29,000 dirhams annually.
The downtown area of Ajman ranked second among the most requested areas for renting apartments in Ajman, as the region has witnessed stability in rental rates for some of its properties, while the average rent for other properties has decreased, as the average rent for a studio in the center of Ajman has settled at 15,000 dirhams annually, as well as the matter In the case of a two-room apartment and a hall, whose annual rental rate has settled at 30,000 dirhams.
The rent rates in Al Rashidiya witnessed remarkable stability, as the average studio rent in Al Rashidiya stood at 16 thousand dirhams annually, while the rent rate for a two-room apartment and lounge in Al Rashidiya stood at 29 thousand dirhams annually.
The rents have not changed since 4 months ... despite the current crisis in the market.