In light of the UAE’s high-end rental market, Fujairah was listed as the cheapest emirate, with lease values averaging at AED 11,000-22,000 annually, or AED 917-1,833 monthly, Emirates 24/7 reported, citing a Land Sterling report.
The emirate saw an 6.5% increase in rentals in the second quarter (Q2) of 2016 compared to Q1, according to the report.
Ajman’s rates have been reported to be between AED 18,000-28,000 per year, while Ras Al Khaimah, rentals range from AED 18,000-30,000 a year, marking an increase of 4.3% quarter on quarter.
In Umm Al Quwain, rates saw a 10% increase, ranging between AED 15,000-18,000 per year. As for Sharjah, rates jumped by 4.2%, to range between AED 18,000-32,000.
In Q1 of 2016, the Northern Emirates witnessed a slumbering residential sector, Trade Arabia said, quoting PKF Consulting.