Dubai, Abu Dhabi see marginal average rent rises during May

Real estate markets in Dubai and Abu Dhabi witnessed marginal growth in property prices during May, according to a new report by Bayut.

Compared to April, average apartment rents in Dubai grew 1.57 percent in May, while average rental yields remained at 5.3 percent, the report said.

It added that the average rent for studio apartments went up to AED57,000 in May, an increase of AED1,000 on the previous month.

Bayut said average 1-bedroom apartment rents rose by 1 percent in May to AED95,000, while the average rent for 2-bedroom units remained stable at AED149,000. Three-bedroom apartments were rented out for an average of AED206,000 in May, up 1 percent on  April.

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