Rents in the mid-income housing segment have appreciated twice as much as their high-end counterparts, Khaleej Times reported today.
According to Hussain Alladin, head of research, GCP Properties “Dubai Marina rents have appreciated by 50 per cent since 2011, whereas International City rents have appreciated almost twice as much – 93 per cent”. “Since 2011, Dubai city-wide rental indices have appreciated by 55 per cent.”
Tenants who are looking to upgrade accommodation or who have just moved to Dubai may find it increasingly difficult to find affordable homes in popular communities. However, tenants on historic leases still continue to enjoy the benefits of below-par market rents.