Dubai sees up to 46% surge in residential rents in prime areas

Posted on October 30, 2023   |  

In Dubai, popular neighborhoods saw a 40% rise in residential rents during the third quarter, driven by strong demand.

Tenants in villas faced the most substantial annual cost increases, with 3-bedroom units in Dubai Hills climbing by 46%, and 4-bedroom properties in MBR City showing a 42% yearly jump in leasing rates.

Among apartments, 2-bedroom units in MBR City saw the most notable increase, reaching 29%, while units in Dubai Hills and Dubai Marina saw upticks of up to 28% and 21%, respectively.

The cost of renting commercial spaces in Dubai also saw a notable increase, with some business zones experiencing hikes of more than a third.

Additionally, sales prices in Dubai's real estate market saw a considerable surge of up to 28%.