Revealed «Dubizzle», site free classifieds factor in the Middle East and North Africa, his orientations real estate market for the fourth quarter of 2014, which showed a decline in rents and sales prices in «Uptown Motor City» 8%, compared to the fourth quarter 2013.
The report sheds light on the rise in average rents in the fourth quarter of 2014 in waterfront areas, in addition to the old areas of Dubai and the heart of the city, and this can be seen rising in the different types of apartments, consisting of a room, two and three bedrooms ranging from bedroom apartments and one in Each of Deira and Bur Dubai, which has seen a rise in rental rates reached 36% and 19% respectively, while the rooms, consisting of three bedrooms recorded in Bur Dubai prices rise rents amounted to 24%, at a time when average rents remained similar apartments 130 thousand dirhams in Bur Dubai, as it was in the last quarter of 2013.
Apartment prices reached a one-bedroom on the waterfront in the Palm Jumeirah to AED 150 thousand, and 185 thousand dirhams for two bedroom apartments, and AED 250 thousand apartments with three bedrooms, an increase of 11% and 9% and 14%, respectively, compared to the fourth quarter in 2013, as the Dubai Marina area witnessed a rise in rents for apartments, consisting of a room, two and three bedrooms on the waterfront, at rates of 11% and 15% and 18%, respectively, in spite of the construction works and traffic congestion experienced.
The real estate marketing director at «Dubizzle», Ann Boethelo: «We expect a slight decline in lease rates in several areas of Dubai in the coming months
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