Decline in Dubai rents to continue in 2018? | GulfNews.com:
"With a glut of apartments and villas for lease and tenant demand failing to keep up, rents in many areas around Dubai have been heading south for some time now. And if the latest analysis were correct, it looks like the trend will continue towards year-end and even drag on into 2018. According to Jesse Downs, managing director of Phidar Advisory, many signs point to the cost of renting a home in Dubai coming down further and these include the huge influx of new residential developments and slow employment growth. Construction of new flats, villas and townhouses has been quite aggressive of late, especially since the city expects the number of Dubai visitors to swell during the Expo 2020 hosting. As of the last quarter, thousands of apartments and hundreds of villas were delivered in Dubai, providing more options for the tenants to choose from and pushing rates down."
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