Dubai Rental Prices up But Good Supply Neutralises Effect

DUBAI, UAE - July 18, 2013 - PRLog -- DUBAI: The rental and sale prices of all Dubai residential properties across the board is up. This includes villas and apartments. Says Knight Frank a global property consultancy, ‘property prices in Dubai rose18 per cent in the past one year (March 2012 to March 2013) cementing the emirate’s position as the top five best performing real estate markets in the world’.

The Deutsche Bank in its report said that property prices in Dubai jumped 6.2 per cent apartment prices stayed between 43 and 61 per cent below the peak prices.

Dubai Marina
It is Dubai Marina that continues to charm and is the most popular area of search in property portals. There were over 2.4 million property adverts (sale and rent) viewed in 18 million searches.

Jumeirah Lakes Towers
The rents in Jumeirah Lakes Towers rose. For one-bedrooms an increase of three per cent happened. Two- and three-bedrooms rose five and eight per cent and prices fell for two and three-bed apartments respectively.

Rental Supply
This had its impact on properties for rent in Dubai.There is enough supply for 2 and 3 bedroom apartments for renting. The periodic increases of rental prices depend on the locations and infrastructure.  Recently the rents of one-bedroom apartments in Downtown Dubai fell by five per cent in compared to the first quarter of 2013.  At the same time, the rents of two- and three-bedroom apartments in Downtown Dubai increased seven and two per cent respectively.

Selling Prices Up
Properties for sale in Dubai have gained by this trend. The selling prices of one-bedrooms jumped by six per cent.  Three-bedrooms had their sale prices up by five per cent. Only the prices for two-bedrooms remained stable. As per the Real Estate Regulatory Agency’s latest rent index update, the rents for 1, 2 and 3-bed room units have gone up by 18, 20 and 16 per cent, respectively.


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