Dubai Rents Hit Record High

Dubai Rents Hit Record High: The Cheapest, Most Expensive Places to Live

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According to a real estate report, rents in Dubai increased by 26.6% from the previous year’s figures, with average annual rates now approaching Dh90,000 for apartments and Dh260,000 for villas.

“Rental rate growth in Dubai has reached high records,” said Taimur Khan, head of research for Mena at CBRE in Dubai. “Rents for apartments and villas increased by 26.7% and 25.5%, respectively, (in the 12 months to September 2022).”

CBRE Group, Inc., a provider of commercial real estate services and investments, became a member of the Fortune 500 in 2008.

For 20 years, The Lipsey Company has recognized CBRE as the industry’s best brand, and for nine years, Fortune has named CBRE one of its “Most Admired Companies,” with the company taking the top spot in real estate for the third consecutive year in 2021.

According to the latest CBRE Dubai Residential Market Snapshot, the average annual rent for apartments in Dubai reached Dh89,986 in September, while the average yearly rent for villas in Dubai reached Dh268,758.

Based on the report, the most expensive areas to rent were Palm Jumeirah (Dh231,397 for apartments) and Al Barari (Dh946,270 for villas).

The CBRE determined the rates based on the average size of all apartment and villa types.

Most Affordable Rental Properties

The following is a list of the most affordable rental properties (the figures represent the typical annual rent for apartments):

Name Of AreaAnnual Rent for Apartments (DH)
International City30,703
Dubailand Residential Complex36,819
Dubai Sports City42,824
Dubai Silicon Oasis48,518
Discovery Gardens48,569
Jumeirah Village Circle55,852

The Priciest Places to Live in Dubai

The following is a list of some of the priciest places to live in Dubai (numbers represent typical annual apartment rents):

Name Of AreaAnnual Rent for Apartments (DH)
Palm Jumeirah231,397
Downtown Dubai189,727
The Old Town160,195
Dubai Marina155,173
The Views132,015
Greens and Views115,478
Business Bay112,613

Most Cost-Effective Villas

Here are some of the most cost-effective choices for villas (figures show average yearly rents):

Name of areaAnnual rent for Villas (DH)
Jumeirah Village Circle141,091
The Springs166,724
The Springs and The Meadows177,728
Damac Hills (Akoya)185,711
Al Furjan187, 974

Most Expensive Places to Rent a Villa

Here are some of the most expensive places to rent a villa:

Name Of AreaAnnual Rent for Villas (DH)
Al Barari946,270
Palm Jumeirah925,403
Emirates Hills879,077
Jumeirah Islands585,143
Green Community389,777
Jumeirah Golf Estates367,413
The Meadows328,143

Khan noted that September rents were higher than the same month five years prior in 22.6% of the emirate’s apartment communities and 96% of villa communities.

“Rents in 6.5% and 28%, respectively, of the apartment and villa communities that we track are currently higher than they were at their previous peak”, according to Khan.

This increase, he believes, will have a “significant” impact on the city’s affordability.

Consequently, Khan warned, “this could harm its competitiveness and other sectors, particularly when living expenses are high and the global economy is fragile.”

Where To Search for Properties in Dubai

Whether you want a beautiful place at a reasonable price that fits your budget or you want luxury and pampering, Dubai has both. You can browse many websites to help you find a suitable apartment or villa for you and your family; here is a list of these sites.

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