Dubai’s skyrocketing rents: Hardest hit neighbourhoods revealed

Dubai’s skyrocketing rents: Hardest hit neighbourhoods revealed

Credit: Getty Images Last year proved to be a buoyant period for the residential real estate sector in Dubai, with rents and home prices hitting fresh highs. But for residents of Damac Hills, Dubailand and Al Barsha the rental increases were particularly severe, according to the 2023 Annual Property Rental Market Report released by online marketplace dubizzle on Tuesday. Damac Hills experienced an eye-popping 66.67 per cent increase in annual rental prices 2023, according to dubizzle’s latest report on the 2023 market. Meanwhile, this was followed by Dubailand (42.54 per cent), JVC (32 per cent) and Al Barsha (31.08 per cent). If you were on the hunt for a villa rental in 2023, you would potentially deal with comparatively lower rental hikes, according to dubizzle. “Affordable villa rentals increased by 16.64 per cent, with DAMAC Hills 2 emerging as the most popular affordable area for villa rentals, with an average yearly rent of Dhs96,000. Other areas like Mirdif, JVC, and Dubailand also maintained a steady popularity, offering villas with annual rents below Dhs200,000. Al Barsha, meanwhile, remained popular with those wanting larger, private spaces, boasting an average annual rental price of Dhs388,000, followed by Jumeirah and the