Rental housing in Dubai: what is happening with prices?
Rental rates for apartments and villas in Dubai have risen by almost a third since the beginning of this year and will continue to gain momentum in the coming months.
According to an expert assessment, rental rates for Dubai housing have been constantly growing in January and February. Renting apartments in Dubai has risen in price by 28% since the beginning of the year, while villas have become 27% more expensive than before.
As of February 2023, the average annual rent for an apartment in Dubai has increased to $27,000 and $80,500 for a villa. The highest prices for both apartments and villas are recorded in the Palm Jumeirah area, where rents exceed $71,000 and $273,000 per year. For this year, it is predicted that rental rates in Dubai will continue to rise.
Experts attribute the significant jump in the cost of renting housing in Dubai in such a short period of time to population growth, an increase in demand for Dubai real estate and the city's strong reputation as a global business center.
Tags: rent; dubai; flat; house; apartments
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