Dubai: Radiation fears are driving down prices and rents of properties near electricity and cellphone towers in Dubai.
In Jumeirah Park alone, homes near towers fetch five per cent lower rent than similar units elsewhere. The sales price difference is even steeper — 7.5 per cent.
Mohammad Babar of One Real Estate agency said they are struggling to find takers for around 100 villas because of their proximity to the towers. A three-bedroom Legacy villa in Jumeirah Park rents for Dh210,000 per annum. Babar said similar size villas near towers fetch about Dh200,000. Babar said he faced similar problem in Jumeirah Village Triangle (JVT) where around 100 villas are near power cables.
“The difference in rent for a three-bedroom villa here could be Dh20,000. A bigger challenge is to sell these units as there are few takers.”
Mohammad Ramahi, property consultant, Summit Real Estate said, “A two-bedroom villa facing a tower in District 8 of JVT is going for Dh3.3 million while a same-sized villa on another street is going for around Dh3.6 million. That’s a difference of Dh300,000.”
