New property survey shows apartment rents continuing to fall in Dubai

[Nicholas Wallwork]

Apartment property rents in most parts of Dubai continued to*decline in August, though in some residential areas rents*stayed steady and even increased slightly, according to a new*survey.

The variation and severity of adjustments in rental rates*depended largely on the size, location, accessibility and*quality of the flats, with prime areas able to resist the*downward trend in rents better than secondary or less*desirable locations, the research from management firm Asteco*and the Khaleej Times found.

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[realtymatching]

Rent correction

This is quite obvious. As people who got laid off, or those who saw a decline in their salaries, move out of the country, or move to cheaper areas, some areas rents decline, some stay steady and some actually see a rise. However, the good news is that though very slow, the UAE is coming out of recession and rents should bounce back once again.

Shabbir
Dubai City, Attractions in Arabian Paradise

 

[Frenchy]

Dubai and Reality

Dear all,

Unfourtunatly the reality of supply and demand will keep rent yields deppressed in Dubai for some time to come.
There are thousands of appartments and villas coming on line every month and will do for the next 18 months. Where are the end users coming from? The estimated population growth has not been fulfiled, it was estimated to be 2.4 M by end 2009 and is conservativly now at 1.4 M. According to statistics, light vechicle registration is down 30% from this time last year.
Propaganda alone will not support the real estate in Dubai....there must be sustainable population inflow to Dubai to support the industry.
I will look forward to alll comments and hope that comment can be substantiated through reliable data and not just opinion.

Regards

Frenchy