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Overseas Property News
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Dubai rental yields stablise
Country: Dubai, United Arab Emirates
15 August 2008
Overseas property investors interested in Dubai’s buy-to-let market will be keen to learn that rents in Dubai have stabilised, after recording five months of declines, according to Dubai-based investment bank Al Mal Capital.
The company reports that average rental yields remained flat in July versus June at 6.8%, which is down on the 7.8% return recorded in July last year.
A company report said: "The year over year decline in rental yields has been driven mainly by higher prices as the median rent in Dubai has increased by roughly 23% over last year’s levels."
The investment bank projects that average rental yields will fall further over the coming months, not because rents will fall, but because the average cost of a property for sale in Dubai will continue to appreciate further.
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DUBAI GATE 2
JUMEIRAH LAKE TOWERS
1 BEDROOM PLUS DINING ROOM
18TH FLOOR FANTASTIC VIEWS
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Elite Residence is destined to become one of the most exclusive and sought-after addresses in the Middle East, it is ideally located at the core of Dubai Marina, near significant city landmarks like Palm Jumeirah and the Mall of the Emirates.
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· Project: The Fairways
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· Tower: T1 / West
· Type: 1 BR
· Suite area: 709 Sq ft
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Price: £435,654 GBP
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Price: £731,763
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Elite Residence is destined to become one of the most exclusive and sought-after addresses in the Middle East, it is ideally located at the core of Dubai Marina, near significant city landmarks like Palm Jumeirah and the Mall of the Emirates.
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Developer Deyaar
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Full lake view
Floor 38
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