I think you meant,why are the rents not going down to your expectations? or to the old,quite honestly,unreal rates?...rents have fallen mate,look around you,2 bedroom going for 7.5-8 a few months back now available for 6...you just need to look,some landlords are stubborn & not reducing rents but most are in deep s*&t with the banks & have to pay back the loans they took to build those buildings so they've been forced to drop the rents...seek & ye shall indeed find mate...
Prices once went up will never come down, unless less projects are awarded by govt. and many international companies windup and go back to their countries.
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I think you meant,why are the rents not going down to your expectations? or to the old,quite honestly,unreal rates?...rents have fallen mate,look around you,2 bedroom going for 7.5-8 a few months back now available for 6...you just need to look,some landlords are stubborn & not reducing rents but most are in deep s*&t with the banks & have to pay back the loans they took to build those buildings so they've been forced to drop the rents...seek & ye shall indeed find mate...
Prices once went up will never come down, unless less projects are awarded by govt. and many international companies windup and go back to their countries.
It is a matter of offer/demand.
And also business!!!
And as you said rents were expected to go down. It is just an expectation based on projection/forecast of conditions in the market.
If the conditions (for the projection/forecasting) do change then the expected behaviour will be different.
Regards!!
some of my friends flats were reduced by 1thou riyals.we can find flats cost 3 bdroom w/6,500 only before it was 9thou.
It's a game, and someone will win, and someone will lose.