The average cost of renting apartments and villas in Dubai continued to drop in the last 12 months and is expected to fall further this year, as the slowdown in the jobs market casts doubts on tenancy demand.
The latest data from REIDIN showed that rental prices in Dubai’s residential market dropped by 5 per cent in the last one year and 2 per cent in the first quarter of 2016. House prices also dipped by 1 per cent in the last three months.
According to reports,the trend is likely to continue in the next few months, with the overall rents expected to post a further 3 per cent to 5 per cent decline this year, on average.
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