Rents in some areas in Dubai are falling, according to the latest Real Estate Regulatory Agency’s (Rera) rent index.

The figures show that the rents, when compared to the last update in May, have fallen in Downtown Dubai, where rates are dropping by between 6% (studio) and 10% (1-bed).

Rents in Dubai Marina remained stable for one and two beds, while studios witnessed a drop of up to 8%. In the more affordable areas like International City, there were drops in rent of between 8% (2-bed) and 12% (studio).

Discovery Gardens also saw a drop in studio rents (-10%) and one beds (-8.5%), while two beds remained steady.

However, at the same time as rents are falling, first time buyers are also shying away from Dubai property. A new report by Dubai-based Mena Properties Services (MPS), has found potential first time buyers shied away from investing during Q2 due to rising property prices, which resulted in fewer sales transactions in the second quarter of this year.

According to MPS, potential buyers are continuing to rent, which they say is reflected in a much higher rate of rental transactions in the last quarter.

If more people are renting but rents in central locations are falling, there has either been a large increase in the supply of rental property, or more renters are moving out of central Dubai and into the suburbs.