UAE: Rents to drop
According to Al-Khaleej newspaper, the rent costs of residential apartments in Sharjah, Dubai and Ajman have recently maintained their upward trend. Real estate specialists relate this rise to a clear shortage in the vacant apartments and a growing demand for housing by the continuously rising number of expatriate workers in these Emirates.
The expatriates are obliged to pay nearly half of their salaries to cover their housing rent costs. Nevertheless, real estate specialists estimate the apartment rent costs to come down, as currently there are major housing projects underway in the UAE.