CBRE rent rate overview
In the new CBRE company overview says that rent rate in Dubai increased for 30% at an average.
As reported by new CBRE overview, rent rate in Dubai (UAE) during the last year increased for 30 % at an average for which cause many tenants decided to move in to the areas with more affordable prices.
In the overview is noticed that real estate rent rates in Dubai Sports City has increased for 36% for year, in Silicon Oasis – for 31%, Sheikh Zayed Road area – for 33%.
In the first half of 2013 emirate real estate rent rates increased almost for 14%. However, rent rate increased not only in the prestigious areas, but also in affordable Dubai areas like Dubai Silicon Oasis, Dubailand, Jumeirah Village, Dubai Sports City. The reason for this is that the popularity of these areas increased among tenants with not high income level.
However, villas' rent rates increase already during 6 quarters in a row. Average rent rates in the second quarter of 2013 increased for almost 6% and is expected that they will keep increase during all 2013 year. According to company CBRE expert opinion, residential real estate rent rate increasing can become about 10% until the end of the year.
Jones Lang LaSalle company analysts also think that rent rate will keep growing in the second half of 2013 not only in prestige areas, but also in the affordable ones.