Average rents for apartments in Dubai declined by 16 to 26 per cent in the second quarter compared to the first quarter, while office rents fell on an average by 20 per cent during the same period, said a new report.

Studios saw the maximum decline of 26 per cent with average rentals coming down to Dh45,500 from Dh61,500 in the first quarter. During the same period, one bedroom rents fell 16.13 per cent to Dh78,000 from Dh93,000; two-bedroom rentals fell 18.94 per cent to Dh107,000 from Dh132,000; while three-bedroom rents dropped 19.19 per cent to Dh149,500 from Dh185,000, Asteco said in its second-quarter report on Dubai property market.

Dubai Q2 apartment rents fall by 16-26%