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FINANCIAL NEWS
UAE- Sharjah apartment rents up 15% since October
29 Apr 2013
(MENAFN) Sharjah residential properties have witnessed a 15 percent hike in rents since October, according to property consultancy Cluttons, reported Emirates 24/7.
The rise in rental prices is attributed to the increased demand that has been unforeseen since the global recession.
In some areas, one bedroom apartments were previously rented out for USD7,600 per annum, now they have shot up to about USD9,500 p.a.
A further jump in property rent is expected within the next six months as the UAE’s economy maintains its current growth rate.
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