Apartment rental yields in the UAE’s most affordable emirate – are among the highest globally, according to new statistics from Propertyfinder Group.
According to Propertfinder data, yields per annum in Ajman were 9.6 percent between April and October 2017, up 0.3 percent over the same period six months ago.
For comparison’s sake, yields per annum in New York City were 2.9 percent and 3.3 in Geneva, compared to Sydney (4.3 percent), Tokyo (2.7 percent) and Hong Kong (2.6 percent), based on average yields for 120 square-metre properties.
In the region, however, a number of cities are competitive with the emirate, particularly Cairo (9.6 percent) and Amman (8.1 percent). According to Global Property Guide, yields per annum in Lebanon were found to be 4.5 percent, Istanbul 3.6 percent, and Marrakesh, Morocco 5.5 percent.
Despite a general decline in real estate prices since a market peak in mid-2014, rental yields throughout the UAE continue to be strong. Notably, Ajman is the most affordable of the seven emirates of the UAE, with asking prices of AED 30 per square-foot for apartments.For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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