Dubai Rents 2012

[LLL]

Hello can anyone help wit a quick question what is the average rent for a one bed 753 sq ft property in International city for 2012.

We have been told by agents that rents have gone down by 50% since 2010 but I find this hard to believe

Anyone with similar experience

[BobbytheBuilder]

Sorry its taken 2 weeks for someone to reply to you. I have posted on this forum and have received no replys. We should be on here to help each other. It does depend on what area your apartment is in. Some areas of I.C offer cheaper rents than other areas. Rents have really gone down in the last 2 years. They have continued to fall over the last few years. What areas your apartment in?

[LLL]

Thanks for your reply the partments are in the Italian cluster. I understand from other contacts the key reasons rents have gone down is due to the delivery of allot of new properties for rent onto the market by Nakheel is this true?

[BobbytheBuilder]

Originally Posted by LLL

Thanks for your reply the partments are in the Italian cluster. I understand from other contacts the key reasons rents have gone down is due to the delivery of allot of new properties for rent onto the market by Nakheel is this true?

Theres loads of different factors of why the rents have gone down. Dubai property market one of the worst performing in the world. The rents were over inflated to begin with, lots of new properties coming onto the market, international city isnt number one destination to live due to Nakheel not maintaining the buildings/area around the apartments. I think you will get about 26K for a 1 bed in the Italian cluster.

[White Sand]

Yes, the rents in Intl City had fallen almost 50%. However, last 2-3 months have seen an increment in the rental and the value of properties in International City. Average rentals for a one bed are in the range of 27-30,000 depending in which cluster is your apartment and the number of cheques(Instalments) you are willing to accept.
England/Italy and Spain are considered good clusters whereas Persia/Morocco/Grrece etc are considered below the European clusters. However, rentals may be 1000-1500 lower in these clusters.
Hope above is of assistance