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Rents fall in Dubai as more property units are released, new report shows

Discussion in 'Dubai property' started by Nicholas Wallwork, Jul 21, 2010.

  1. Nicholas Wallwork

    Nicholas Wallwork Editor-in-Chief Staff Member Premium Member

    [​IMG]Tenants in Dubai are benefiting for a 4 to 8% reduction in rent as more residential property comes onto the market in the emirate, according to a new report.

    And the owners of real estate, although not yet seeing a recovery in prices, can take heart from the fact that sales prices are level, according to a new report from Astecto Property Management.



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  2. BobbytheBuilder

    BobbytheBuilder New Member


    How long before some good news comes out of Dubai regarding Real Estate prices? I wont be holding my breath
     
  3. Wannaberich

    Wannaberich New Member

    I'm pretty confident before 2019.
     
  4. eyeC

    eyeC Senior Member

    the only big project i know ready for handover is near emirates road city center

    behind the mall many buildings are ready or been ready for long time yet they have not been released to the market and i guess this will have a devastating results on the market.

    on the other side rents are stabilizing as it is not feasible to rent any lower after paying for maintenance + management + municipality fees +other fees+bank loan interest

    so we have reached some sort of bottom for rent

    i guess you can say there is a small possibility for most buildings to be empty not enough tenants in town (less than 1%)
     
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