Dubai ‘leads the world’ for property rental yields
Dubai currently offers some of the strongest yields of any major property rental market in the world, according to a new report by global real estate portal, Property Finder.
According to the research, Dubai properties provided 7%+ gross returns on average in the first half of 2019, compared to London (2.7%), Hong Kong (2.4%), New York (2.9%) and Singapore (2.5%).
“Despite a sustained contraction in prices, Dubai still holds its own as an investment hotspot with attractive yields and new legislative initiatives to further entice investors and companies,” commented Lynnette Abad, director of Data & Research, Property Finder.
Apartments in Dubai Silicon Oasis provided the highest gross rental returns in the first half of 2019 at 9.5%. Dubai Sports City, which is home to four of The First Group’s leading hotel apartment developments – The Spirit, The Matrix, The Bridge and The Diamond – provided rental yields of 8.4% during this period.
Emerging communities such as Meydan and Damac Hills also offered gross rental yields at 9.3% and 8.9%, respectively.
Other precincts cited in the report include International City (8.4% yield), International Media Production City and Arjan (7.6% respectively).