Marina Residences, Palm Jumeirah - Rents Agreed - Market Trends
Rents Agreed and Market Trends at Marina Residences, Palm Jumeirah
Author Gareth Davies - Award Wining Broker and Property Consultant
The rate of rental growth at Marina Residences and at Palm Jumeirah generally, was 2.4% during the past 12 months. This growth follows the market trend in Palm Jumeirah where the community average 5.9%.
Although this rate of rental growth will disappoint some investors it is more sustainable and should result in less tenants defaulting on their rents and contracts.
The affordability of rent payments creates a “ceiling rent” in any location and is linked to disposable income and wage increases, if any.
Source: Property Monitor
Source: Property Monitor
Source: Property Monitor
Rents Agreed to New Tenants (not renewals).
Source: PropertyMonitor.ae
Source: PropertyMonitor.ae
Source: Property Monitor.ae
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