COPYCHAR Kareem Halfawi/The National Rental prices in Dubai continue to fall Residential rental rates in Dubai have dropped 17 per cent in the last year, according to the latest report by CB Richard Ellis. That includes a four per cent drop in the first quarter of this year. However, "established locations with infrastructure connectivity, facilities and amenities have now seen rates remain steady for consecutive quarters," CBRE reports. The biggest drop in lease rates has been in studio apartments, which fell 19 per cent in the last year. Average rates for two bedroom apartments fell 16 per cent, in contrast. New developments at Silicon Oasis, Business Bay, IMPZ, Jumeirah Village, and Dubai Sports City continue to struggle, due to "unrelenting new supply and unfinished infrastructure and community facilities," the report said. An average one bedroom in Business Bay rents for about Dh55,000 a year, compared to Dh75,000 for a similar apartment downtown Dubai, CBRE said.