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Residential rents in Dubai, where the majority of the population is foreign, declined the most on a monthly basis since the property peak of two years ago, according to Phidar Advisory.Home rents fell by 1.3 percent in May, the biggest drop since May 2014, Downs said in a phone interview Sunday. Since the peak, home rents have fallen at a compound monthly rate of 0.3 percent.The bottom limits of asked residential rents dropped by 4.1 percent by the beginning of June compared to the same week in the previous month, according to Phidar.
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