Dubai rents on the rise

10/11/2011 - Dubai Investment News Posted by Neil King
Dubai rents on the rise

Property investors with buy-to-let units in Dubai have seen rents increase in recent weeks.That is according to real estate firm Asteco, which said that average apartment rents in Bur Dubai have risen by three to seven per cent.The firm also claimed that rents in Karama have stabilised since the beginning of the year, Emirates 24-7 reported.Vineet Kumar, head of business development at Asteco Dubai, told the news provider: "The rents in these locations are stable. There is a high demand to live in these locations as infrastructure is well developed and connectivity to the metro has become a main attribute."With the new inventory now coming online in these areas it will be interesting to see what, if any, effects this new supply has on existing rates."The news comes shortly after Dubai further cemented its credentials as a leading retail hub with US firm American Eagle Outfitters opening its largest store to date at the hugely-popular Deira City Centre.