By Staff writer
International City has proved to be the most cost effective location for tenants
International City is the cheapest location to rent
in Dubai according to data compiled by the Propertyfinder online property
portal, it was announced on Wednesday.
The country-themed real estate project near Dragon Mart topped the list with a median rental rate of AED42,000 ($11,434) per year.
Taking second place was Discovery Gardens, with a median
rent price of AED58,500 per year.
In third is Dubai Silicon Oasis on AED60,000, while
the last two spots on the top five were taken by Dubai Investment Park (AED65,000)
and Dubailand (AED65,000).
“Rents are experiencing a slowdown in certain
areas. For instance, in Jumeirah Lake Towers, apartment rents fell by 4.6 per
cent between June and August. Similarly, if you are looking to get a foot on
the property ladder, house prices are likely to slow further in the coming
months,” Michael Lahyani, CEO and founder of propertyfinder.ae said of the
Median price for what, a Studio or what? Could the article be more non-specific?
I suppose they mean One bed room aparments. I do hope they don't mean Studio!!!!!!
Median price means the average rent paid within the stock of available units in all categories: studios, 1beds, 2beds, possibly 3beds. If not, they should have specified median price of a one bed room apartment.