Northern Emirates rental rates up again in Q3

Dubai?s market dynamics are now prompting a slowing down of growth figures and could herald a softening in demand for competitively-priced residential rental units in the Northern Emirates as Dubai market conditions continue to adjust.

Nevertheless, Q3 2014 witnessed a prolongation of the positive trend seen over the last 12 months, with quarter-on-quarter increases of 2% in Sharjah, 5% in Ras Al Khaimah, 4% in Ajman and 6% in Umm Al Quwain.

“Real estate market values in Sharjah and the other Northern Emirates are largely dictated by what is happening in neighbouring Dubai, and with rental rates in some of its more affordable communities softening further still in Q3, this inevitably has a ripple effect across the Northern Emirates”.