Housing becomes more expensive in Dubai as house rents rise - Global

Housing turns into costlier in Dubai as home rents rise – World

News By Aug 18, 2023 No Comments

Housing has develop into costlier as home rents have elevated within the main state of Dubai within the United Arab Emirates.

Dubai residential property costs rose 4.8 p.c within the second quarter, the tenth consecutive quarter amid sturdy demand and robust financial progress.

Faisal Durrani, head of analysis associate for the Center East and Africa at consultancy Knight Frank, mentioned the comparatively lengthy interval of rising costs exhibits no indicators of slowing.

Particularly, the costs of villas in Dubai’s prime areas, Jumeirah Bay Island, Emirates Hills and Palm Jumeirah, have elevated by 11.6% within the second quarter and 125% since January 2020, with solely eight villas beneath development in these areas.

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