Apartments for rent in Dubai rates not stable in first quarter of the year

The cost of renting in the UAE is rising by "unsustainable" amounts pushing occupiers to maneuver out to more economical places, property brokers say. Average annual rates for apartment for rent in Dubai increased by 5 percent on the three months to the ending of March, while villa rents rose 3%.

It said that at International Town in the borders of Dubai there were a number of the biggest rent increases, with average rents upward by 11 percent through the first quarter of 2014 to Dh50,000 for an one-bedroom flat- equating to an 80% increase over the entire year.

Biggest Dubai property for sale deals of 2014 so far

A flat sold in Burj Khalifa, the planet's tallest tower, has capped the record of the 10 largest Dubai property for sale deals completed in first-quarter 2014. 7.

The second place was taken by a 6,887-square-feet apartment in Dream Hands Home, Palm Jumeirah, which was offered for Dh15.50 million followed closely by a 10,254-square feet apartment in Marina Houses - 5, Palm Jumeirah, selling for Dh15 million.