Dubai rents are still mounting

It's frightening the way rents are increasing in Dubai. I happened to check out a few places in Al Quasis. A one BHK costs about Dh40,000. And these apartments are rather small and not furnished. Due to the mounting rents, families are forced to return to their home countries or share apartments. The irony is that almost every building has a 'To Let' board, but still the rents are not falling.
Head down to Karama or Bur Dubai, and the rent for a single bedroom apartment is anywhere between Dh50and 60,000.
I am certain there is a lot of room for rents adjustments in such a way that both tenants and landlords are not at a loss. This will surely help enhance the standard of living for most residents.
Mathew Litty, Dubai




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