Bayut.com

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Dubai: Dubai rents continue to fall in July

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The property market in Dubai remained favourable to tenants and buyers in July, with rents continuing to fall and prices in some locations still showing a down-trend.

The cost of renting flats across various communities registered an overall decline of 2 per cent last month compared to the same period in 2015, according to a real estate portal with thousands of property listings.

The average annual rent for studio apartments in Dubai stood at Dh57,000, down by 6 per cent from a year ago, but stable when compared to the average rent in the first six months of 2016.

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Dubai: Are rents in Abu Dhabi falling faster than in Dubai?

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The cost of renting apartments appears to have dropped more in Abu Dhabi than it has in Dubai, at least according to the data compiled by one property analyst.

Leasing rates at residential buildings in the UAE capital have registered a 4 per cent decline on average since the beginning of the year until the end of February, according to real estate portal Bayut.com, which has about 1,000 property listings. In comparison, rents in Dubai went up by an average of 4 per cent during the same period, though overall rates remain cheaper compared to last year.