28% hike in Marina rents

29.01.2015
According to real estate firm Cluttons, the Marina now attracts more tenants as a result of the new Beach Mall, entertainment venues and the convenience of having the Dubai Tram in close proximity. Property prices in Dubai Marina have risen by more than a quarter in the past five years, according to research by a real estate firm. 

Cluttons said it has recorded a 28% increase and prices per square foot now stand at AED1,670. According to the firm, the new Beach Mall and the Dubai Tram have made the area even more attractive for residents. Lucy Bush, head of residential sales and leasing, said: "JBR and Dubai Marina have become increasingly popular locations over the past five years, with many residential properties at 100 per cent occupancy." 

7DAYS reported that residents, however, were not as happy about the rents, many noting that it had become too expensive to live in the Marina.

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