Rents in some areas of Sharjah have risen 2 per cent over the second quarter of 2011 despite a power cuts, petrol problems and a growing exodus of tenants to Dubai.
Quoting officials from real estate firm Asteco, Gulf News reported that rents for studio apartments in Al Khan and Corniche have climbed up to Dh25,000 though prices have fallen in other areas of the emirate. Office rents in the two areas also saw an increase by 5 per cent.
However, the growing exodus to Dubai, where the rents dipped further, continues even as tenants are prepared to pay the premium to be closer to their work places.
For more information visit Dubai real estate
Dubai rents continue to ease as Sharjah sees selective hike
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