Rates head northward following increased demand from residents moving homes in search of better deals. According to real estate information company REIDIN.com, villa and apartment rents rose by 11.7 per cent and 8.6 per cent last year.
Rents have started to increase in selective areas of Dubai after the pace of rental income slowed down significantly in 2011, but will continue to fall in fringe communities, according to a new report.
Firms with real estate investments believe market has recovered sufficiently. Owners of property portfolios – both private and corporate - are leaning on property valuation firms to match “pre-crash valuations”.