World Economy

Dubai Rents Dip

Dubai Rents DipDubai Rents Dip

The average apartment rent in Dubai dropped to AED125,000 ($34,000) per annum in the third quarter of 2016, down 2% from the previous quarter, according to a new report, Arabian Business reported. The study by real estate website showed that although values increased in some localities, there was an overall downward movement of apartment rents in Dubai during the quarter. It added that Dubai South appears “well set to become the next investment hotspot in Dubai”, amid ambitious project launches by some developers. Category-wise, studio rents were down 2% in Q3, with an average of AED55,000 compared to AED56,000 in Q2, the report said.


Add new comment

Read our comment policy before posting your viewpoints