The Views Dubai - March Rental Market Review
Rents Agreed for new Tenancies at The Views, Dubai.
Author: Gareth Davies - Award Winning 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 Views, Dubai data suggests during March 2026, the first full month of the USA-Iran conflict .
New Tenancy Contracts to New Tenants.
The clearest change was in transaction activity. New tenancy registrations at The Views fell to 31 in March, compared with 57 in February, 49 in January.
The weekly trend was even more telling. Most of the tenancy contracts registered with 1st March to 15th March starting dates would have agreed and signed before 28th February. There were only 11 new tenants registering tenancy contracts in the second-half or March. Many landlords were holding firm on their acceptable rent targets and consequently less new tenancies were agreed. This pattern is consistent with a market that has moved into a wait-and-watch pause period.
Rental Movement.
Property Monitor’s analysis of the Rents agreed on fresh tenancies to new tenants decreased by 16.93% during March. However, during March my experience of tenants was that they were offering less rent towards the month-end but the offers received were closer to the February figures: the -16.93% rent reduction being an average.
Graph: Property Monitor
The March data therefore points to caution, not capitulation. The Greens has clearly become quieter, and tenants are behaving more carefully. Many tenants still intend to move but have asked their current landlords for one or two-month extensions while they assess the market, the geo-political conflict and their job security. 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. Many landlords of short-term rental / AirBnB furnished apartments are considering listing online to attract long-term tenants. 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 Agreed to New Tenants (Renewals with Black Circle)
Source: Property Monitor
Source: Property Monitor
Source: Property Monitor
Source: Property Monitor
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Author Gareth Davies - Award Winning Broker and Property Consultant
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