New supply of properties will lead to further decline in rates
Lease rates in Dubai’s residential and commercial markets are expected to fall further in the upcoming months, according to Landmark Advisory’s April 2010 Dubai lease guide.
The new supply of properties, which are forecast to enter both markets in the next three years, will lead to a further decrease in lease rates across Dubai.
This will particularly affect lower quality buildings in the least developed and integrated communities, says Landmark Advisory.
“However, certain residential units in key locations within established high quality developments will remain stable; this applies to specific villa developments and select apartment buildings,” says Jesse Downs, director of research and advisory services, Landmark Advisory.