Apartment rents fall 3% in dubai

Apartment rents in Dubai fell 3% in the second quarter of the year while rents for villas remained stable, according to a new report by Asteco.

Rents are expected to continue to fall as more supply comes onto the market, the property consultant said.

"Rental rates are expected to decrease slightly in the short-to-medium term consistent with the delivery of new villa developments such as Jumeirah Park, which is expected to be partially handed over by the end of 2011," said Asteco.

Source: AME Info