Dubai rent is positioned second all over the world for primary leasing development in 2014, registering a boost of 8.1 % last year, in accordance to Knight Frank’s newest global leasing index. The rise primarily occurred in Dubai rent in the first half of the year, with leasing development in the emirate continuing to be flat between Summer and December 2014, the report claimed. “Outside the motor oil markets resident requirements has showed robust,” said Kate Everett-Allen, at Knight Frank. The Middle Eastern Countries also registered the sturdiest rise of all of the industry areas each year, at 6.5 percent. The index was lead by Tokyo, with 11.1 percent leasing advancement, accompanied by Dubai, Zurich (6.9 per cent. Conversely, the entire list increased by simply 0.6 % in 2014, its weakest rate of development since 2009.The weak results “underline the world economy’s fragility in 2014”, said Allen. “The 16 percent decrease in primary the cost of rent recorded in Moscow dragged our international listing down but four other metropolitan areas additionally saw leading the cost of rent.” In contrast, 12 of the seventeen metropolises assessed saw luxury residential the cost of rent raise or remain fixed in 2014. “Desire and activity in the top residential leasing market is highly associated to business activity and job levels. Happenings in Europe will be important to all round index’s overall performance in 2015 with major spots of concern still being answered in the region’s overall economy,” Allen said. Dubai rent is anticipated to stay level or slip by up to ten % this current year, in accordance the properties consultancy JLL.
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October 2019
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