According to a survey, Arabian Ranches 2, Damac Hills, and the Jumeirah Islands are expected to remain popular villa communities for rent this year, while Business Bay, Al Karama, and Dubai Marina are expected to dominate the apartment segment due to their prime locations and affordable prices.
Dubai’s first-ever official Residential Rental Performance Index (RRPI), which was recently launched by the Dubai Land Department (DLD), will assist tenants in finding a suitable residential space within their budget. According to this indicator, places for flats and villas are expected to stay in high demand among tenants, influencing market pricing and accommodation trends.
According to the latest data from CBRE Dubai Residential Market Snapshot, average rentals in the Emirate climbed by 10.1 percent in the year to January, with apartment and villa rents increasing by 8.3 percent and 22.8 percent, respectively.
Despite a 4.01 percent rent rise, Arabian Ranches 2, a premium villa complex, will continue to attract tenants this year. It is likely to maintain its dominance in 2022, as more individuals want larger and more spacious homes in Dubai.
With rent hikes of 1.58 percent and 5.95 percent, respectively, Damac Hills and Jumeirah Islands are projected to remain popular with villa renters in 2022.
The shift from Expo 2020 to District 2020, which will open to tenants towards the end of the year, will aid Dubai South in maintaining its strong momentum. Last month, the villa segment in the area increased by 3.39 percent.
The recent 1.34 percent cut in the average rent of Palm Jumeirah’s Garden Properties will appeal to residents seeking ultra-luxury homes with spectacular waterfront views.
Source: Khaleej Times
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