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Average annual Dubai studio rents fall by 6% to $15,500

The average annual rent for a studio apartment in Dubai fell by 6% in July to AED 57,000 ($15,518) compared to the start of the year, according to the latest data from real estate website Bayut. Its report also said average studio rents in neighbouring Abu Dhabi dropped 5% to AED 56,000 in July.

However, Bayut said Dubai’s real estate market remained strong with rental yields going as high as 6.5% in some areas. The report also showed that average rents for one-bed units were AED 92,000, 7% lower so far this year, while two-bed apartments fetched owners AED 145,000 annually in July, down by 3% since the start of the year.

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