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Dubai house rents fell 24 percent in 2009

Apartments in Dubai saw rents falling 24 percent…

January 13, 2010 4:15 by

Apartments in Dubai saw rents falling 24 percent on an average during 2009, while villa rents dropped by 18 percent during the year, according to a report released by property consultant, Asteco. The rental rate drop slowed during the last quarter of the year, as compared to the previous quarter, with overall decreases of 2 percent for apartments and 1 percent for villas.

“Sought-after developments include Downtown Burj Dubai, Palm Jumeirah and Dubai Marina as well as Arabian Ranches and Springs as they offer residents an abundance of retail and leisure facilities and are in prominent locations,” the report said.

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