Rents for residential property in Dubai has increased by an average of 17% for 2012, and the real estate market has recovered stability, referring to CBRE data report of the company, writes the online edition In these popular areas like Dubai Marina and the Palm Jumeirah, the rent increased by almost a quarter. Dubai real estate market is one of the hardest hit by the economic crisis, there has been a sharp drop in rental rates by 54% for one-bedroom, and two bedroom apartments from 2008 to 2011. But in 2012, the market situation started to improve. In areas of Downtown Dubai, Dubai Marina, Jumeirah Beach Residence, Palm Jumeirah rents increased by 24%. According to the head of research at CBRE and consulting company in the Middle East by Matthew Green, the economic situation in the property market in Dubai has stabilized as a result of increasing population growth and, consequently, increasing demand and limited rental quality housing proposals. Market has also improved. The report showed that sales increased by an average of 13% year on year in the most sought-after areas. For example, in the area of
