Photo for illustrative purposes only.
PHOTO BY ARCHIVE
Rental prices in Dubai’s famous neighborhoods have been rising and are expected to continue rising with the Fifa World Cup coming to Qatar in November.
The cost of renting apartments under the affordable category has increased by 21%, while the price of luxury apartments increased by 43%. There has also been a reported increase in rent of up to 30 percent for villas.
The numbers are expected to increase further during the last quarter of the year once Fifa World Cup fans start flying in for the month-long event.
According to Zoom Property Insights, Dubai will benefit not just from its proximity to Qatar but also from the abundance of short-term rentals already on the market.
Ata Shobeiry, CEO at Zoom Property, said: “Many real estate agencies and short-term rentals have reported advanced bookings for November and December. However, the real impact of this upcoming mega football event will be evident in October, a month prior to the event. It will give the already-growing Dubai rental market a major boost.” BKM/ Expat Media
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