#Dubai property continues to offer among best yields in world, says Savills - Arabianbusiness

Dubai property continues to offer among best yields in world, says Savills - Arabianbusiness:

Despite prime residential rents in Dubai falling by five percent last year, the emirate offers up some of the best yields in the world, according to the latest Savills Prime Index” World Cities report.

Dubai and Kuala Lumpur (four percent) saw the highest drops in rents throughout 2019.

The emirate was also the third cheapest city in the world to buy prime property, at $580 per square foot, ahead only of Cape Town and Kuala Lumpur. This was a result of “oversupply and potential renters have a lot of choice and negotiating power”.

“Land-scarce” Hong Kong took top spot ($4,610 per sq ft) followed by New York ($2,510 per sq ft). 


However, despite this, Dubai offered some of the best gross residential yields, way above the global average of 3.2 percent at around 4.5 percent and behind only Los Angeles, Moscow and Cape Town.