Dubai: Where apartment, villa rents have increased and decreased

Residential rents continue to accelerate in most of the areas of Dubai, with Discovery Gardens, Living Legends, Downtown, Jumeirah and Dubai International Financial Centre (DIFC) areas registering the biggest increases.

Real estate analysts and industry executives say that the rents are increasing at the fastest pace in the past eight years mainly due to the increase in population post Expo 2020, and the introduction of new reforms such as the Golden Visa which attracted a lot of investors and high net worth individuals to the emirates.

Industry insiders say that foreign investors are increasingly making Dubai their primary residence in the post-pandemic period due to business-friendly policies, fresh incentives for investors and better quality of life.

Dubai’s population crossed the 3.5 million mark recently and stood at 3,517,303 on July 18, according to Dubai Statistics Centre.

According to CBRE’s latest data, average rents in the 12 months to June 2022 increased by 21.7 per cent with average apartment and villa rents rising 21.2 per cent and 24.7 per cent, respectively. As of June 2022, average apartment and villa rents stood at Dh85,204 and Dh255,437 per annum, respectively.

The highest average annual apartment and villa rents respectively were found in Palm Jumeirah, where asking rents on average were Dh218,413 and in Al Barari, where asking rents average Dh880,225 per annum.

Where rents are rising for apartments:

Where rents are falling for apartments:

Where rents are rising for villas:

Where rents are falling for villas:

Source: CBRE, KT Research

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