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FINANCIAL NEWS
Dubai rents reach two-year low
13 Jun 2016
(MENAFN) Residential rents in Dubai, where the majority of the population is foreign, declined the most on a monthly basis since the property peak of two years ago, said Phidar Advisory.
“Landlords are finding it more difficult to rent homes, especially larger and more expensive ones,” managing director at Phidar has said.
“That is mostly due to “recent job losses and a decline in job growth rates”, she added.
It’s worth mentioning that Home rents dropped 1.3 per cent in May, the biggest drop since May 2014. Home rents fell at a compound monthly rate of 0.3 per cent.
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