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Dubai rents are lowest in three years, says report
- United Arab Emirates: Monday, July 20 - 2009 at 13:43
Residential property rents in Dubai have fallen to their lowest level in three years and could drop even further, reported 7days newspaper, citing interviews with local real estate agents. Tenants can now rent a studio apartment in International City for just Dhs26,500 a year - down from Dhs60,000 six months ago, the report said. The rental price drop is attracting people from neighbouring emirates, like Sharjah and Ajman, because they can now afford Dubai prices, it added.
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