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Dubai Property Rents Slides Down 30% in Last Year
Dubai Property Rents Slides Down 30% in Last Year
Residential rentals in Dubai have seen a 30% drop of rents in the last twelve months.
Dubai,
UAE,
United Arab Emirates
(pr4links.com)
28/04/2011
Dubai, UAE- April 28, 2011 - The latest figures from the emirate’s Real Estate Regulatory Agency show that Dubai apartment rents in areas like Dubai Marina, Palm Jumeirah, Discovery Gardens, and Jumeirah Beach Residences have all seen significant falls. This has let UAE nationals as well as expats from across the globe to bargain on in the rents and live in lavish apartments at the prime locations of Dubai.
According to the recent real estate research, below you can note the difference of rent prices in the premium areas of Dubai:
- Firstly, the rent prices for a one bed apartment in Discovery Gardens, which houses about 41,000, currently stand at AED40, 000 to AED50, 000 in the latest index, compared to AED55, 000 to AED65, 000 a year earlier.
- Secondly, Dubai Marina, which is consistently voted the most popular for potential tenants, also saw a big fall in rents. Rents for a studio in the Marina start at AED35, 000, down AED10, 000 compared to the March 2010 index, while minimum rents for a one bed have fallen more than 30% to AED45, 000.
- Apartments on Palm Jumeirah have also witnessed a significant drop, with minimum rents of AED60, 000 quoted, compared to AED90, 000 in March last year. Two bed apartments have seen rents fall AED40, 000 to AED90, 000, RERA said in its online guide which takes the form of a rent calculator.
- Falls of 20% plus were also seen in The Greens where the top price for a two bed has fallen from AED130, 000 to AED90, 000. Rents also dropped in Jumeirah Beach Residence, down AED5, 000 for a one bed apartment and in Jumeirah Lake Towers where the minimum rents for a studio fell by AED12, 000 to AED28, 000.
Hence, these downfalls of rents have helped tenants to rent properties in Dubai at attractive prices and live in all the strategic locations in Dubai.
Move In Dubai one of the reputed real estate agency in Dubai deals in all kinds of rental properties in Dubai. They have a decade of experience in rental business and are known for providing flawless services to their clients.
To check out the property portfolio visit www.moveindubai.com
Contact:
Shop 2, Al Bishri Building,
Al Barsha, Dubai, U.A.E
Dubai, UAE
Tel: 00971 (0) 44 327 866
Fax: 00971 (0) 44 327 865
http://www.moveindubai.com/
Email: alfrenzodubai@gmail.com
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