Rents for 1-bed units in Dubai's Bur Dubai, Deira up 70% to 86%

Rents of one-bed apartments in Bur Dubai have risen by 70 per cent between 2011 and 2015, while rentals in Deira jumped by 86 per cent during the same period, reveals data released by Asteco, a real estate consultancy. Average rentals in the above two communities stood at Dh73,000 per annum (pa) and Dh65,000 pa in 2015. In Bur Dubai, rents touched the lowest in 2011 when average rent for one-bed stood at Dh43,000 pa. Similarly, the lowest in Deira was way back in 2012, with average lease rates at Dh35,000 pa. The highest rentals for the areas were in 2008, with the cost of renting apartment in Bur Dubai and Deira at Dh105,000 pa and Dh88,000 pa, respectively. In 2009, rentals fell by 59 per cent and 45 per cent, respectively, with average rates being Dh43,000 pa and Dh48,000 pa, the consultancy said.   Emirates247