Dubai rental market hits 'all-time low', says latest JLL report - Arabianbusiness:
Rental rates in Dubai hit an all-time low in the third quarter of the year.
According to JLL’s latest UAE Real Estate Market Performance report, rents in the emirate fell by 12 percent year-on-year, surpassing the lowest point on the rental index from almost a decade ago in 2010/11.
And experts from the real estate outfit are expecting the sector to continue being a favourable one for tenants.
The report said: “Looking ahead, the residential market is expected to remain under pressure in the short-term in light of various macro uncertainties, namely high unemployment rates and a slowdown in population growth. This is in addition to subdued investor sentiment on a global level.
“As such, we expect developers to continue offering a range of incentives (fee waivers, discounts, rent-to-own), as well as partner with banks in offering reasonable home finance options to attract new investors and end-users looking to take advantage of the lower prices.”
No comments:
Post a Comment