6 May 2008
Rental prices in Dubai remained largely unchanged in Q1 2008, compared with Q4 2007, according to UAE estate agency Asteco.
Asteco’s latest residential report reveals that the highest rents in Dubai can be found in The Palm Jumeirah and Old Town Burj Dubai. The lowest rentals can be found at International City.
Comparable data also shows that the greatest annual rental increase was reported at International City, where 2-bedroom apartments appreciated by 36% in annual rents from AED 70,000 (£9,700) to AED 95,000 (£13,150) when compared to the same period last year.
The lowest rental rates for villas in Dubai are currently found in Mirdiff, while Jumeirah commands the highest rents due to its close proximity to the beach and Sheikh Zayed Road. The average annual rent for a 4-bedroom villa in Mirdiff is now AED175,000 (£24,210) while a similar property at Arabian Ranches or Jumeirah would rent at over AED 300,000 (£41,500).
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