UAE northern emirates rent expected to fall further this year
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UAE northern emirates rent expected to fall further this year

UAE northern emirates rent expected to fall further this year

A report by CB Richard Ellis has said that residential rents in the UAE's northern emirates are expected to fall further this year, due to increased supply and weak demand, Reuters has reported. Rents in Sharjah have suffered the sharpest fall, declining around 50% since their peak two years ago. Ajman saw a 42% drop since the first half of 2008, while rents in Umm al-Quwain have fallen 39%. Prices in Ras al-Khaimah and Fujairah declined 28% and 23%, respectively, according to the report. "Real estate offerings in the northern emirates continue to feel a strong influence from the Dubai market, with the availability of significantly reduced rates and better infrastructure enough to convince occupiers to relocate back to Dubai," the report stated.

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