Apartment rents in the lower end of the market fell eight to10 per cent in the first quarter compared to the last quarter of 2010, while new villa developments continued to face decline in capital and rental values due to lack of infrastructure, Cluttons said on Sunday.

Nakheel, Dubai-based master developer, has recommenced booking for berths in Palm Jumeirah and plans to double the berth number in the project, according to a senior company executive.

Rents in Dubai are touching new lows with one bedroom units being offered at Dh21,000 for a year in International City, while a similar unit at the Discovery Gardens is down to Dh35,000 from its peak of about Dh75,000, according to property advertisements posted earlier this week.

The UAE‘s property market has bottomed out and will start showing signs of recovery by the end of 2011, the country’s Minister of Economy said.