Shoreline Apartments: March Rental Market Review
Shoreline Apartments: March 2026 Rental Market Commentary
Gareth Davies - Award Winning Broker and Property Consultant
Having worked in the residential property market for the past 38 years, I have experienced a few recessions and the slowdown in Dubai during the Covid-era. I have seen enough cycles to know that markets rarely move in a straight line. In periods of uncertainty, the first signs of change do not usually appear as dramatic price falls. More often, they show up in behaviour first: fewer decisions, slower deal flow, and more caution from tenants before they commit.
That is broadly what the Shoreline data suggests during March 2026, the first full month of the USA-Iran conflict .
New Tenancies to New Tenants.
Data Source: Ejari and Property Monitor
The clearest change was in transaction activity. New tenancy registrations at Shoreline fell sharply to just 11 in March, compared with 25 in February, 29 in January and 35 in December.
The weekly trend was even more telling. There were 3 new tenancy contracts registered in the week commencing 2 March and 6 in the week commencing 9 March, but activity then dropped to 1 in the week commencing 16 March, zero in the week commencing 23 March, and just 1 on the final day of the month. That pattern is consistent with a market that has moved into a wait-and-watch pause.
Rental Movement.
Rents agreed on fresh tenancies decreased slightly. The average contracted rent moved from AED 125 per sq.ft in February to AED 123 per sq.ft in March, a decline of about 1.6%. That is a modest easing, not yet a meaningful repricing. However, with only two new tenancies being agreed in the second-half of March it confirms my rental team’s experience of tenants offering less rent towards the month-end. Landlords were holding firm on their acceptable rent targets and consequently less new tenancies were agreed.
Data Source: Property Monitor
The Gap Between Asking Rents (Listings) and Rents Agreed with Tenants.
What is perhaps more revealing in the above graph is the growing gap between asking rents and achieved rents. Average listing rents rose again in March to AED 162 per sq.ft, up from AED 156 per sq.ft in February, while average agreed rents edged lower. In other words, advertised pricing remained firm, but actual market activity weakened. Although tenants have become more cautious, many landlords have not yet materially reset expectations.
The March data therefore points to caution, not capitulation. Shoreline has clearly become quieter, and tenants are behaving more carefully, but it is still too early to call this a major rental correction. The first month of the conflict appears to have interrupted momentum rather than broken the market.
During April, there will be extra apartments entering the market. Landlords with asking rents above the average figures for the type of apartment will need to adjust their rents in order to compete for the active tenants who are prepared to sign contracts.
Rents Registered at Ejari for New Tenants.
The conflict has reduced the number of new-tenancies at Shoreline. However, it is too early to say if there is a significant decrease in rents. But there are early behavioural signs consistent with caution, and if the conflict persists, the first visible adjustment is likely to be deal structure rather than dramatic headline rent cuts: more extensions, more negotiation, and more flexible cheque/payment options before any clear rental repricing becomes obvious.
Type J : Rental Contracts to New Tenants.
J-Type 1-Bedroom
Type B : Rental Contracts to New Tenants.
B-Type 1-Bedroom
Type D : Rental Contracts to New Tenants.
D-Type 2-Bedrooms
Type E : Rental Contracts to New Tenants.
E-Type 2-Bedrooms
Type F : Rental Contracts to New Tenants.
F-Type 2-Bedrooms
Type A : Rental Contracts to New Tenants.
A-Type 3-Bedrooms
Type C : Rental Contracts to New Tenants.
C-Type 3-Bedsrooms
Penthouse (4 Beds) : Rental Contracts to New Tenants.
Penthouse
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