Dubai rents fall fastest in prime areas as jobs market weakens | The National

Dubai rents fall fastest in prime areas as jobs market weakens | The National:

"Dubai rents could fall by as much as 5 per cent this year, with the biggest drops in prime areas including Dubai Marina and Palm Jumeirah, according to Cluttons.

The consultancy said that rents in prime areas are likely to fall by up to 7 per cent, driven by a decline in demand for luxury apartments. Overall, rents are expected to decline in the range of 3 to 5 per cent

Richard Paul, the head of residential valuations at Cluttons, said that average rents fell by 1.3 per cent over the quarter and are 3.5 per cent lower year-on-year."



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