The Greens confirmed as Dubai rental hotspot

18/03/2013 - Dubai Property News Posted by Neil King
The Greens confirmed as Dubai rental hotspot
The Greens has emerged as one of the most lucrative property investment hotspots in Dubai, with rental rates rising sharply in 2013.New figures provided by the Real Estate Regulatory Agency showed that landlords have been able to significantly increase their asking prices in the last few months. According to Emirates 24/7, the cost of renting a studio apartment has gone up by 22 per cent since the last index was taken towards the end of 2012.In addition to this, the going rate for a one-bedroom apartment rose by 15 per cent, while tenants staying in two-bedroom apartments were forced to pay an extra 28 per cent. Indeed, two-bedroom properties in this part of town are now being leased for as much as AED 110,000 per annum.This particular study is carried out three times a year and the latest version confirmed that The Greens has been catching up with popular areas like Dubai Marina and Downtown Dubai of late.Two-bedroom apartments were being leased for up to AED 130,000 a year in the former - a rise of 18 per cent on 2012 - while similar-sized properties in Downtown Dubai were being rented out for up to AED 140,000.Luxurious accommodation in Discovery Gardens and the Palm Jumeirah are still highly sought after too.This should be a good guide for real estate traders to follow when searching for new property investments in Dubai.There is no doubt that the market has been performing incredibly well in the past year - a point that was emphasised by Knight Frank's recent Wealth Report. It showed that the overall value of Dubai's most luxurious properties increased by 20 per cent in 2012, with villas selling particularly well.Representatives of the company also confirmed that the number of high net worth individuals flocking to the UAE rose sharply last year. There were an extra 8,700 people with assets worth more than $30 million (AED 110 million) purchasing buildings across the city throughout the 12-month period - up by five per cent on 2011.The First Group can help you find apartments for sale in Dubai