Rents drop as supply rises in Dubai - Emirates Business 24|7

Lease rates in Dubai continued to decline in June compared to April, as more housing stock was released into the market, a real estate consultancy said.

Landmark Advisory, in its Dubai lease guide, said although the units in lower-quality buildings and less prestigious locations are experiencing the strongest rent declines, the more significant trend is the resumption in rent declines for quality units in prestigious locations.

"Declines are primarily attributed to increasing supply, a trend that will continue with 100,000 new units anticipated for delivery over the next two years," the report said.