Dubai rent growth ‘highest on record’: Where to get an apartment for Dh30,000 a year

Average rents in Dubai grew by 28.5 per cent in the 12 months to January 2023 — the Emirate’s highest rental growth on record. According to real estate services and investment company CBRE, average apartment rents grew by 28.8 per cent to reach Dh98,307 during this period. Villa rents reached Dh290,242, registering a growth of 26.1 per cent.

Palm Jumeirah has registered the highest rental rates for both apartments and villas, with average annual asking rents currently standing at Dh258,529 and Dh1,032,763, respectively, CBRE said in its Dubai Residential Market Snapshot for February 2023.

“While the annual rate of growth is at record highs, we are seeing that an increasing number of listings in core communities are starting to decrease their listed price, indicating that in parts the market is reaching its peak,” said Taimur Khan, head of Research – Mena at CBRE in Dubai.

According to the market snapshot, residents can get an apartment for less than Dh30,000 a year in International City. The next most affordable area for rents is Dubailand Residence Complex with an average rent of Dh41,700. Based on average apartment sizes in each community, across all unit mixes, here are the rents in key areas, according to the report:

Based on average townhouse and villa rents in each community, across all unit mixes, here are the rents in key areas:

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