Affordable housing demand driving dubai market

Affordable housing is driving Dubai’s market as apartment rentals slide, according to a new report by a leading UAE property portal.

Searches on propertyfinder.ae for houses priced under AED100,000 shot up by 30% in the third quarter of 2011, while enquiries for apartment rentals fell by 15%.

Villa rentals, by contrast, saw their interest spike by 17%.

The high supply-level of apartments is likely to have sparked the increased interest as prices drop, according to propertyfinder.ae’s managing director Renan Bourdeau.

Source: OPP.org.uk