Dubai rents up by 6-25%

05.01.2015
Lease rates for apartments in International City, Dubai Silicon Oasis and Discovery Gardens have jumped by 9 to 18% as per the first 2015 rent index compared to the last update of 2014.
Rents across some of Dubai’s master communities have risen by 6 to 25% in the first rent index update of 2015 compared to the final rent index of 2014, a comparison done by Emirates 24|7 reveals. Lease rates for apartments in International City, Dubai Silicon Oasis and Discovery Gardens have jumped by 9 to 18% as per the first 2015 rent index compared to the last update of 2014. The highest increase has been recorded in Remraam, where two-bed units have seen a rise of 13.13% to 25%. The rent index is updated by the Real Estate Regulatory Agency (Rera), the regulatory arm of Dubai Land Department, every four months. Downtown Dubai remains the most expensive community to rent a studio apartment though rents have risen between 6.66 and 7.69% compared to the 2014’s final rent index. Leases range between AED70,000 and AED80,000 pa. Dubai Marina saw rents for studio and two-bed apartments increase as well. Rates for studio units rose by 9 to 11% with leases varying between AED70,000 and AED80,000 pa.

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