Dubai rents resilient to sharp corrections | GulfNews.com

Dubai rents resilient to sharp corrections | GulfNews.com:



"After steep double-digit increases in each of the last three years, average apartment rents in Dubai may have dipped — but only by a marginal 0.3 per cent a month in the first-half of the year.



This contrasts quite markedly with the rental gains of 17 per cent, 26 per cent and 15 per cent annually during 2012-14, according to a new report from Core Savills, the consultancy, which adds that the ‘rises over recent years have made life difficult for millions’.



The corresponding increase in villa rentals during 2012-14 were 18 per cent, 17 per cent and 9 per cent a year. This also corresponded to the period when the rental cap in Dubai was rolled back and the Dubai Land Department sponsored ‘rental index’ came into effect."



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