Marina Residences, Palm Jumeirah - Rents Agreed - Market Trends
Rents Agreed and Market Trends at Marina Residences, Palm Jumeirah
During the past twelve months the rents agreed to new tenants (AED/sq.ft) at Marina Residences have decreased by 4.52% which is better than the overall average for Palm Jumeirah communities.
Change in Rents (AED/sq.ft) in the past 12 months:
Marina Residences: -20.03%
Palm Jumeirah: 3.41%Change in Rents (AED/sq.ft) in the past 6 months:
Marina Residences: -17.30%
Palm Jumeirah: 3.79%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 โceiling rentโ in any location and is linked to disposable income and wage increases, if any.
Rents Agreed to New Tenants (not renewals).
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