Rental prices for residential and commercial property in Dubai have declined again this month due to an increasing supply of property, according to a recent real-estate report.
Falling rents gives opportunity to expats as well locals from neighboring cities to have better standard of living at reasonable rates.
Abu Dhabi commuters and expats from across the globe flock to Dubai Marina due to incredibly attractive rents.
Surveys revealed that even this year with rents dipping, Dubai has again turned out to be the preferred destination for tenants of neighboring cities to shift their homes.
Rents ease in areas such as Al Barsha, Bur Dubai, Marina and Jumeirah Lakes Towers.
Covering the area of 64 million square feet, consisting of over 200 buildings and located next to Burj Downtown Dubai with easy access to Shaikh Zayed Road, Business Bay is acclaimed as the new business capital of Dubai
Residential rentals in Dubai have seen a 30% drop of rents in the last twelve months.
An apartment that used to rent for 60k has now decreased to 25k. As rentals in Dubai slide sharply, potential tenants around the world are wondering if this is the bottom or there's more to come.
Due to current breakdown in rental prices, Dubai rental properties have shown a tremendous attraction for the people who are fond of fascinating and lavish lifestyle.
Further lower rents in Dubai property allures huge number of investors and expats from across the globe.
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