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Quality residential developments in Dubai built upon their strong performance in Q2, with average rental increases in Q3 2012 of 2% for apartments and 3% for villas.
Residential sales prices were relatively unchanged, even though increasing numbers of units were advertised at inflated prices, while the commercial property market remained subdued due to a lack of demand, according to the latest Q3 2012 report from leading UAE property management company, Asteco.
Apartments on Sheikh Zayed Road and Downtown Dubai showed the greatest rental increases, with a two-bedroom apartment annual leasing rates up 6% at Dhs105,000 and up 4% at Dhs120,000 respectively.