Dubai Land Department, which now updates its rent index once a year instead of three times a year, completed the new update this month
Rents for one-bedroom apartments in Dubai Marina have declined by the most among the freehold communities, while Arjan has registered the biggest increase, according to Dubai’s official rent index for 2017.
The Dubai Land Department, which now updates its rent index once a year instead of three times a year, completed the new update this month.
“The index has been revised in November so people are able to check their rents for the coming year,” Mohammed Ahmed Yahya, deputy CEO Rental Affairs Sector, DLD, told Arabian Business.
A comparison done by this website reveals rates in Dubai Marina are down 22 percent compared to 2016 with lease starting from AED70,000 to AED110,000 per annum (pa) as against AED90,000 to AED110,000 pa in 2016.
Rentals in Downtown Dubai have fallen by 8.69 percent to 15.79 percent to AED80,000 and AED105,000 pa, while Greens, off Sheikh Zayed Road, has registered declined 12.5 percent, with leases ranging from AED70,000 to AED 90,000 pa.
Rents in International City have fallen by 7.89 percent to 11 percent, with apartment leases starting from...Read more...