The ongoing hike in residential rents in Dubai, indicates a huge supply and imbalances of the local property market, according to a recent report by National Bank of Dubai.
The report, cited by Khaleej Times, housing rents will continue to rise despite the huge increase in the volume of new residential units. Over the period 2000-05, the number of residential buildings in Dubai went up by more than 42 per cent, from some 56,000 buildings to 79,000.
