Rents start from Dh14,000 in Dubai’s most affordable areas as a growth of 3 to 8 percent has been registered in the rents of apartments and villas in the emirate in the second quarter of 2021.
An average increase of three per cent and eight per cent for apartments and villas have been registered respectively.
Real estate consultancy Asteco said in its second-quarter report that though the average apartment rental rates in Q2 across Dubai contracted three per cent compared with the same period last year, villa rental rates grew by a marked 10 per cent.
RELATED STORY: Top 6 realities of living in UAE flats
The consultancy said that the main focus of demand has been on the villa market and “despite positive market sentiment, apartment rental rate growth appears to be inflated, particularly as new supply outperforms population growth.”
The Asteco estimates suggest that around 6,650 units were delivered in the second quarter while another 22,500 are expected to be delivered in the second half of 2021.
Furthermore, the upcoming Expo 2020 Dubai is expected to lift real estate demand for the short-term period. A consistent drop in the rentals over the last few years due to oversupply in the real estate sector was witnessed with the rents in Dubai having become pretty affordable falling to as low as AED14,000 for a studio.
READ ON: Dubai Police inspect 139 flats over foul smell
The Asteco data lists out the annual rental rates of a studio, 1-bedroom, 2-bedroom and 3-bedroom apartments as follows:
Studio:
AED 14,000 in International City
AED 15,000 in Deira
AED 17,500 in Discovery Gardens
AED 17,500 in Sports City
AED 20,000 in Jumeirah Village
1-bedroom apartment:
AED 20,000 in International City
AED 25,000 in Deira
AED 27,500 in Discovery Gardens
AED 27,500 in Sports City
AED 27,500 in Jumeirah Village
2-bedroom apartment:
AED 35,000 in International City
AED 35,000 in Deira
AED 37,500 in Sports City
AED 40,000 in Jumeirah Village
AED 50,000 in Discovery Gardens
3-bedroom apartment:
AED 45,000 in International City
AED 60,000 in Deira
AED 60,500 in Sports City
AED 75,000 in Jumeirah Village
0 comments :
Post a Comment