How the property rental changed in Dubai?

 
  • How the property rental changed in Dubai?


    Ejari registration hits record heights in August 2022 with over 36,800 free-hold contracts marking an increase of 9.7% vs. August 2021. Year to date, the rental registration went up by 11% vs. last year to over 250,000 rental contracts. This increase can be attributed to two main factors:

    1. The population increased by almost 30,000 in the last four months to over 3,528,000 since Dubai stands out as safe haven in the middle of tough global circumstances.
    2. The high-interest rate caused a decrease in mortgage transactions by 13% where many people prefer to rent over getting a mortgage. 
    3. Consequently, the rental went up across Dubai on average by 20% in August 2022 compared to August 2021.

    Business Bay

    • One bedroom at AED 130,000 (13% YoY)
    • Two bedrooms at AED 190,000 (26.7% YoY)
    • Three bedrooms at AED 265,000 (43.2% YoY)

    Downtown

    • Studio at AED 61,000 (37.1% YoY)
    • One bedroom at AED 92,000 (24.3% YoY)
    • Two bedrooms at AED 150,000 (25% YoY)
    • Three bedrooms at AED 285,000 (58.3% YoY)

    Dubai Creek Harbour

    • One bedroom at AED 70,000 (52.2% YoY)
    • Two bedrooms at AED 107,500 (40.5% YoY)
    • Three bedrooms at AED 155,000 (24% YoY)

    Dubai Marina

    • Studio at AED 48,000 (26.3% YoY)
    • One bedroom at AED 76,500 (27.5% YoY)
    • Two bedrooms at AED 120,000 (33.3% YoY)
    • Three bedrooms at AED 169,000 (25.2% YoY)
    • Four bedrooms at AED 232,500 (38.8% YoY)


    Palm Jumeirah ( apartments )

    • Studio at AED 67,500 (12.5% YoY)
    • One bedroom at AED 135,000 (22.7% YoY)
    • Two bedrooms at AED 160,000 (28% YoY)
    • Three bedrooms at AED 205,000 (13.9% YoY)
    • Four bedrooms at AED 380,000 (55.1% YoY)
       

    Jumeirah Village Circle (JVC)

    • Studio at AED 30,000 (20% YoY)
    • One bedroom at AED 45,000 (12.5% YoY)
    • Two bedrooms at AED 73,000 (4.3% YoY)
    • Three bedrooms at AED 109,000 (28.2% YoY)

    City Walk

    • One bedroom at AED 130,000 (13% YoY)
    • Two bedrooms at AED 190,000 (26.7% YoY)
    • Three bedrooms at AED 265,000 (43.2% YoY)
    • Four bedrooms at AED 450,000 (200% YoY)

    Town Square ( apartments)

    • Studio at AED 25,000 (22% YoY)
    • One bedroom at AED 38,000 (26.7% YoY)
    • Two bedrooms at AED 56,000 (21.7% YoY)
    • Three bedrooms at AED 85,000 (14.9% YoY)

    Town Square (villas)

    • Three bedrooms at AED 110,000 (22.2% YoY)
    • Four bedrooms at AED 140,000 (20.7% YoY)

    Arabian Ranches 1

    • Two bedroom at AED 140,000 (27.3% YoY)
    • Four bedrooms at AED 200,000 (53.6% YoY)
    • Five bedrooms at AED 310,000 (24% YoY)

    Dubai Hills Estates ( villas)

    • Three bedroom at AED 192,500 (37.5% YoY)
    • Four bedrooms at AED 230,000 (43.8% YoY)
    • Five bedrooms at AED 250,000 (25% YoY) 

    Dubai Hills Estates ( apartments)

    • Studio at AED 50,000 
    • One bedroom at AED 60,000 (14.3% YoY)
    • Two bedrooms at AED 105,000 (34.6% YoY)
    • Three bedrooms at AED 160,000 (28% YoY)

     

    The rental increase across all Dubai areas proves the healthy investment environment offered by Dubai, and it makes the property market more attractive to investors..

    For more information on the state of Dubai’s property market and trends, have a quick look at our Interactive Reporting Tool.



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