It is a tenants’ market in Dubai, as reflected by weakening rental values across many areas in the emirate, owed in part to the fact that the supply of private rented accommodation on the market has increased of late as more investors continue to take advantage of cheaper homes in Dubai.
The cost of renting flats across various communities registered an overall fall of 2% last month compared with the corresponding period last year, according to Bayut.
The property portal report that the average annual rent for studio apartments in Dubai stood at Dh57,000 (£11,717) a year, down 6% compared with the average rent in the first six months of 2016, the average cost of renting a one-bedroom residential unit dropped 7% to Dh92,000 (£18,912) a year, while the average two-bedroom unit fell by 3% to Dh145,000 (£29,806) a year.
Join the conversation
Be the first to comment (please use the comment box below)
Please login to comment