A leading real estate analyst in his latest report said that average rent in Dubai may fall in 2010 over some issues related to supply. However, there were only marginal changes in residential rents in past two months with prices remaining almost stable during the period.
Jesse Downs, Director of Research and Advisory Services at Landmark Advisory informed, "In terms of average rents in Dubai, we've seen relatively minimal changes in rents. There are some exceptions with some areas seeing rental increases and others experiencing declines. The supply issue will impact rental trends next year and we anticipate average rents to decline."
Report claims that there were more sales and rent activities for mid-range quality and locations during the past three months in Dubai. The demand is, by and large, attributed to rise in interest of value-conscious middle-income end-users and families.
Sales prices for International City declined over 10 per cent in past three years while prices for Palm Jumeirah apartments reported growth against their level before some time ago.
