Rent prices fall in UAE's Sharjah

19 January 2010

A report by real estate services firm Asteco has said that improved demand had slowed the decline in apartment rents in the UAE emirate of Sharjah to 5% in the fourth quarter of 2009 compared to the previous quarter. Rents in Sharjah and the northern emirates of Ajman and Ras al-Khaimah, fell 26%, 25% and 17% respectively during 2009, while values in Umm al-Quwain declined 15%. However, the emirate remains the most expensive of the Northern Emirates with average rents of Dhs21,000, Dhs30,500, Dhs39,000 and Dhs50,500 for studios, one, two and three bedroom apartments, Asteco said in the report.

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