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Rents of Dubai Apartments Slide Further
Rents of Dubai Apartments Slide Further
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.
Dubai,
UAE,
United Arab Emirates
(pr4links.com)
15/03/2011
Dubai, UAE- March 15, 2011 - Dubai is a happening city to live which offers top-notch restaurants to excellent universities and from sky rise buildings to mind-blowing infrastructure to its residents. However, the recent rentals in Dubai are touching new lows with one bedroom units being offered at Dh21,000 for a year in International City, while a similar unit at the Discovery Gardens is down to Dh35,000 from its peak of about Dh75,000, according to real estate reports.
According to the experts, this downfall in rental properties in Dubai is beneficial for the tenants around the world as well as for the neighboring emirates. It will allow renters to rent apartments in prime areas of Dubai and enjoy luxurious lifestyle at lower rent prices. However, rents of the apartments in areas such as Dubai Marina, Downtown Dubai, The Meadows, Arabian Ranches and The Springs have not dropped significantly. But new areas that have peaked in deliveries recently have undergone a real fall in price and lease rates. Studio flats at International City are now being offered for Dh16, 000 to Dh18, 000 a year, while studios at Discovery Gardens are now being offered at Dh24, 000 - less than half of their peak asking rates in 2008. Experts say that areas that will see further price falls and rental declines will be with respect to the new properties being handed over and the surrounding areas still look like building sites.
Move In Dubai is a reliable real estate company in Dubai and has been into this business more than a decade. They only deal in rental properties in Dubai and hence known as a dedicated rental specialist. They also have a huge property portfolio located at prime areas of Dubai at exclusive rates.
For more information on this company, visit: http://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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