Dubai rents up 3pc; Bahrain down 18pc
Dubai, October 14, 2012
Rents in the some parts of Dubai increased by more than 3 per cent during the first six months of the year, according to a report.
According to the property adviser latest published last week, tenants who signed up to rent in
Rents in Dubai's prime localities rose 2 per cent in June this year compared to March, The National report said quoting Knight Frank's Prime Global Rental Index.
Year-on-year (June 2011 to June 2012), rents in the same neighbourhoods rose by 3.3 per cent, the report said.
Dubai's top neighbourhoods were ranked ninth out of the 16 cities the company surveyed in terms of rent increases.
It said prime rents in Bahrain's capital, Manama, fell by 18.1 per cent in the year to June as political protests took their toll on the economy.
More Construction & Real Estate Stories
- Drake & Scull clinches $461m Saudi contract
- Obayashi-HBK venture wins Doha project deal
- Bahrain halts digging at housing project site
- Strike won't affect projects says Arabtec
- Bahrain cuts new property registration cost
- IPIC to use $4bn pipeline payment to repay debt
- MMG appoints advisor for debt restructuring
- Dar Al Arkan to sell benchmark-sized sukuk
- Bahrain plans $52m spend on infrastructure
- Bahrain launches massive homes revamp