Residential rates in Dubai are beginning to stabilise as growth rates move back into the black, according to a global survey released on Tuesday.
According to the latest Knight Frank Prime Global Rental Index, residential rental rates in Dubai fell 4.9 percent during 2011.
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However, the recovery started to take hold during the second half of the year, with rates down just 0.9 percent between June and December 2011 and up 0.1 percent in the final quarter of the year.
On a global level, Dubai was now ranked 12 on the Knight Frank list and the rising rents is likely to see it reenter the top 10 in the near future.
While London and New York were in the top ten, the top spots were dominated by cities in emerging markets in Africa and Asia.