Saudi Gazette - Sale and rental prices rise in Dubai

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Sale and rental price of property in Dubai continued to rise during Q2 2013. The effects of selective recovery seen in Dubai’s posh localities last year still linger in the market and luxury property continues to see increases in its sale and rental prices. According to Bayut.com’s Q2 2013 report, meticulously prepared by Bayut.com, the luxury property has emerged as the top performer of the second quarter. Other independent reports such as those prepared by JLL also indicate the same and say that many investors in Dubai like to invest in Palm Jumeirah and Dubai Marina.

According to Bayut.com’s data, the Q2 2013 ended by registering a price hike 24.50 percent for studio apartments in Dubai Marina. With a 14.70 percent quarter on quarter increase, studio apartments remained the best performing apartments in Dubai. On the downside, the average sale price of 4+ bedroom apartment in the same locality dropped 3.8 percent. It was observed throughout the state that the sale price of 4+ bedroom apartments in Dubai dropped uniformly. In Dubai Marina and Palm Jumeirah, sale price of 4+ bedroom apartments experienced a drop of 3.80 percent and 2.57 percent respectively."

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