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Rental decline slows in UAE's Northern Emirates
- United Arab Emirates: Wednesday, October 21 - 2009 at 11:25
According to a report by Asteco, a UAE-based property services firm, the average decline in apartment rental rates in the Northern Emirates in the third quarter of 2009 has slowed considerably to 4% compared with 12% in the second quarter and 21% in the first quarter. 'Since the fourth quarter last year, when the economic downturn became apparent in the Middle East, average rental rates across the Northern Emirates fell by nearly 34% from Dhs48,450,' the report said.
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StaffWednesday, October 21 - 2009 at 11:25 UAE local time (GMT+4)
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