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Quarter 4 Rental Hit In Dubai
Quarter 4 Rental Hit In Dubai
Further lower rents in Dubai property allures huge number of investors and expats from across the globe.
Dubai,
UAE,
United Arab Emirates
(pr4links.com)
14/02/2011
Further lower rents in Dubai property allures huge number of investors and expats from across the globe.
Dubai, UAE- Feb 14, 2011 - Dubai has always been one of the hotspots - as a holiday destination for tourists and business hub for corporate as well as job seekers. According to the current report given by the real estate experts, the average rent prices of residential property, retail property as well as commercial property in Dubai have further decreased, alluring huge number of crowds across the world.
The fourth quarter has faced a downward spiral in all types of rental properties in Dubai which allows tenants to enjoy the lucrative rent rates. The rent prices for the lower end apartments in the International City and within Dubai Marina had also diminished considerably. Apart from these prime areas, the rental prices of the apartments in Burj Khalifa are stable according to the reports. These declining rents have turned property market into tenants-market, allowing them to stay at some of the lavish houses in best areas at attractive rent prices. According to the study, the rent decline was 8 percent from Q4 2009 to Q4 2010. Also, the rent rates of the low to mid-end apartments in Dubai have suffered a considerable plunge. "With a further 25,000 units expected to be completed in 2011, the total stock of residential Dubai apartments for rent at the end of 2011 will hit a whopping 335,000 units", the real estate report said. Furthermore, there has been many residential projects schedule for 2011 which are reported to be on track soon. The commercial property in Dubai have also experienced a rental drop of 15 to 30 percent allowing retailers and small business firms to negotiate on rents and get the best deal!
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Shop 2, Al Bishri Building,
Al Barsha, Dubai, U.A.E
Dubai, UAE
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