Dubai rental prices rise by 30% in 2013

Dubai saw prices for rental property increase by 30% in 2013, leaving the region in 16th place in the list of most expensive locations for expatriates.

Hong Kong remains the most expensive global location, with Moscow and Caracas ? the Venezuelan capital ? also featuring high on the list.

But it was Dubai which experienced the highest levels of growth ? second only to Caracas ? as increased demand has led to steady price rises throughout the year.

With prices still expected to growth in 2014, it would suggest the time is right to invest in apartments in Dubai while demand is high.

The 30% increase seen in Dubai compares favourably with other regions around the globe, such as Spain where Barcelona and Madrid both experienced large decreases in rental values.

It suggests significant recovery for the real estate sector in the UAE, while Dubai overtook Abu Dhabi in 2013 as the most expensive place in the Middle East for expatriate rental.

Prices for the survey were calculated from the average costs for a three-bed property in the locations concerned, while costs were converted to US dollars for comparison.

via ECA International: Dubai rental prices rise by 30% in 2013 | Select Property Ltd.