Dubai Rents May Fall 25%Wednesday, February 25, 2009
A new study predicts that rents will drop by up to 25% in Dubai and dip slightly in Abu Dhabi, reported The National. Rents in Dubai and Abu Dhabi peaked late last year, bringing an end to the days when average prices in popular neighbourhoods doubled in 12 months, according to Landmark Advisory, a division of the Dubai-based estate agent, Landmark Properties. The study said average apartment and villa leasing rates in Dubai would drop 25% and 23% respectively this year. After dramatic increases in Abu Dhabi, it said, rents were likely to remain 'relatively stable' during the first half of the year or see 'marginal declines. Source: Gulf News
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