Dubai rents hit record high: Most affordable, expensive residential areas revealed

Dubai rents hit record high: Most affordable, expensive residential areas revealed

In September, the average yearly rents for apartments and villas hit Dh89,986 and Dh268,758, respectively

By Web Desk Published: Thu 13 Oct 2022, 11:16 AM Last updated: Thu 13 Oct 2022, 11:51 AM

Rents in Dubai jumped 26.6 per cent from last year's figures, with average annual rates now reaching nearly Dh90,000 for flats and over Dh260,000 for villas, according to an industry report released on Thursday.

“Rental rate growth in Dubai has reached record highs... with apartment and villa rents increasing by 26.7 per cent and 25.5 per cent, respectively, (in the 12 months to September 2022)," said Taimur Khan, head of research for Mena at CBRE in Dubai.

In September, the average yearly rents for apartments and villas hit Dh89,986 and Dh268,758, respectively, based on the CBRE's latest Dubai Residential Market Snapshot.

The most expensive places to rent in were Palm Jumeirah (Dh231,397) for apartments and Al Barari (Dh946,270) for villas, the report revealed.

The CBRE calculated the rates based on average apartment and villa sizes, across all unit mixes.

Here's a list of the most affordable places to rent in (figures indicate average yearly rates for apartments):

International City: Dh30,703

Dubailand Residential Complex: Dh36,819

IMPZ: Dh39,786

Dubai Sports City: Dh42,824

Arjan: Dh44,880

Dubai Silicon Oasis: Dh48,518

Discovery Gardens: Dh48,569

Jumeirah Village Circle: