Rents continue to surge as Dubai house prices moderate

Rents continue to surge as Dubai house prices moderate

Average apartment and villa rents stood at Dh 85,294 and Dh 255,437 per annum respectively in June 2022.

Published: Sat 16 Jul 2022, 4:26 PM Last updated: Sat 16 Jul 2022, 4:29 PM

A sustained surge in rental, prices and transactions of residential properties underscores the buoyancy of Dubai’s real estate market during the first half of 2022 in the backdrop of sweeping visa and economic reforms as well as other initiatives to attract global investors and talents.

The total volume of transactions in Dubai’s residential market reached 7,941 in June 2022, up 33.3 per cent from a year earlier while the average prices increased by 10.1 per cent in the year to June 2022, according to Dubai Residential Market Snapshot – July 2022 released on Friday by CBRE.

Average rents in the 12 months to June 2022 have also increased by 21.7 per cent, with average apartment and villa rents increasing by 21.2 per cent and 24.7 per cent respectively. As at June 2022, average apartment and villa rents stood at Dh 85,294 and Dh 255,437 per annum respectively.

“Transaction activity in Dubai’s residential market continues to remain near historic highs, with total transactions in the year to date to June 2022 reaching 38,901