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Dubai Rental Prices up But Good Supply Neutralises Effect
By: IS Real Estate
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.
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.
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-
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Page Updated Last on: Jan 28, 2014