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Dubai apartment rents rose in Q1, report shows
The incredible demand for luxurious apartments in Dubai enabled landlords in most parts of the city to increase their rents in the first quarter of 2013.A new report by Bayt.com suggested that people are falling over themselves to rent out plush apartments in exclusive areas and this is playing right into the hands of savvy property investors.Downtown Dubai is still one of the most popular regions and landlords have had no trouble finding long-term tenants who are willing to pay a premium to live in such a nice part of the sheikhdom.Indeed, the average rent on a studio apartment in Downtown Dubai rose by 2.3 per cent in the first quarter of 2013, while the asking price for one and two-bedroom properties went up by 4.2 per cent and 4.7 per cent respectively.Unsurprisingly, the Palm Jumeirah has also proven to be a hotspot for property investment in recent months and this latest report explains why this is the case.Rental prices soared by an astonishing 27 per cent year-on-year and this was mainly attributed to the strong demand coming from high-earning expatriates.The Dubai Marina is also as popular as ever, although rent increases have plateaued slightly due to the sheer number of beautiful new buildings being erected in the area. That said, demand is still robust and investors can expect to see rental rates go up again in the near future.According to Bayt.com, the villa market also performed very well in the first quarter of 2013, with sale and rental prices on the up.As such, it is no real shock that Knight Frank recently included Dubai among its top five real estate markets on the planet.It stated that only Jakarta, Bangkok and Miami could compete with the emirate when it came to property price hikes, as the value of luxurious buildings in Dubai rose by an impressive 18.3 per cent between March 2012 and the same month this year.The First Group can help you find apartments for sale in Dubai Continue reading
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Dubai Metro express service to become permanent
An express train that was introduced on the Dubai Metro's Red Line in October 2012 is set to become a permanent feature, it has been confirmed.The Road and Transport Authority (RTA) launched the service on a temporary basis and it has proven to be a big success.Speaking to Emirates 24/7, director of the RTA's rail operations Ramadan Abdullah revealed the train – which runs between Rashidiya and Jebel Ali in the early hours – will continue to operate on a daily basis.”The express service has been made a permanent service. The number of daily users is between 700 and 800, more than we initially expected,” he was quoted as saying.Extra trains were laid on from 05:30 and 05:40 local time in order to cater for the large number of commuters who need to move around the city every morning. Regular services start at 05:50 each day.Journeys between the two stations usually take between 60 and 70 minutes, but the express service manages to cut this down considerably by missing out 14 stations.A number of popular stations are included on the route, including Emirates Towers and Dubai Internet City, which perhaps explains why the trains have been such a success.The RTA has been working hard to ensure Dubai's public transport network is able to accommodate the growing number of people moving to the city.Plans are in place to expand the Metro and the organisation has also launched new bus services, some of which will provide links to railway stations.The RTA has been showcasing Dubai's latest transport developments at the 60th International Association of Public Transport (UITP) Congress and Exhibition, which took place in Geneva, Switzerland between May 26th and 30th.As well as highlighting the impressive work that has gone into making Dubai one of the best connected cities in the Middle East, the RTA also outlined plans for the UITP Congress in the Middle East & North Africa 2014 – an important event that will take place in Dubai. Continue reading
