International City, Dubai Silicon Oasis, & Bur Dubai remain the most affordable areas to rent in Dubai

International City, Dubai Silicon Oasis, & Bur Dubai remain the most affordable areas to rent in Dubai

- Property rents in Dubai will sustain an upward trend in 2023

- The current average rent for villas has crossed AED 268,000, while apartment rent has touched AED 90,000

- International City, Dubai Silicon Oasis, Bur Dubai, Discovery Gardens, and Dubai Sports City attract tenants due to lower rents

- The number of new contracts will be less than renewals in 2023

Dubai: Despite the average increase in rental prices, certain areas in old and new Dubai will continue to attract tenants because of low rents and high demand in the market following strong economic activity in the emirate.

According to Zoom Property Insights, the average rent of villas in Dubai crossed AED 268,000 while apartment rents hit AED 90,000 last year. It is expected that a similar trend will continue this year, the Insights data says.

Ata Shobeiry, CEO of Zoom Property, believes that the high influx of expatriates moving to Dubai is a major factor that is driving the rental market.

“The number of people shifting their base in Dubai to seek employment and entrepreneurship along with an upscale lifestyle is rising with every passing day. This has led to demand for rental properties and a subsequent rise in the average rent. Still, there