A new study has found rental prices in Dubai have dropped an average of 7% in the second quarter of 2017.
The report, released by Asteco Property Management, shows significant drops in prices of apartment rentals across the board.
The drops are linked with an increased supply of affordable projects being launched and completed, seeing landlords offer an increasing number of incentives including furnishings without additional cost, rentals inclusive of utilities or rent-free periods of up to two months.
Business Bay saw a drop of 14% in price year-on-year for Q2, followed by Downtown Dubai which dropped 12%, with Bur Dubai and Deira dropped 11%.
The least significant drop notable in the study was in Discovery Gardens which dropped 2%.
Prices for apartment sales have also dropped by 3%
Again, linked with the launch of affordable projects.