Rental rates in most areas of Dubai are growing at double-digit rates. The leaders among the areas with the highest rates of price growth were: Dubai Marina, Jumeirah Beach Residence, Jumeirah Lake Towers and Palm Jumeirah.
Interestingly, rents in affordable areas such as Deira, Dubai Sports City and Jumeirah Village are also growing at double-digit rates due to an increase in population. Real estate analysts expect rents to continue to rise through the end of this year, albeit at a slower pace, and reach 2014 levels by the end of 2022.
The analytical source Property Monitor reports that in the first quarter, rents in these areas changed as follows:
- Dubai Marina – an increase of 25% compared to the same period last year;
- Palm Jumeirah – 22 yen%;
- Jumeirah Beach Residence – 22%;
- Towers on Jumeirah Lake - 22%;
- Jumeirah Village Circle – 21%;
- Greens - by 21%.
At the same time, growth was observed not only in historically popular locations, but also in areas with moderate rental demand. Among them:
- Deira – increase in rental rates by 11%;
- Dubai Sports City – growth by 15%;
- Jumeirah Village – by 21%.
While Discovery Gardens and International City saw growth of 2% and 5% respectively.
