Dubai rents: Areas where they have fallen, how much

Business

Login / Sign Up

Sunday, December 29, 2024

Gold / Forex

Business Property

Dubai rents: Areas where they have fallen, how much

Property professionals say new supply of residential units may push rental values down

Published: September 01, 2020 15:41 Jay Hilotin, Senior Assistant Editor

1 of 12

JVC Jumeirah Village Circle — JUMEIRAH VILLAGE CIRCLE: Since the beginning of 2020, Dubai rents have dropped 13 per cent for apartments and 10 per cent for villas. Image Credit: Clint Egbert / Gulf News

2 of 12

NAT-International-City — DUBAI INTERNATIONAL CITY: Real estate industry professionals said a further fall in rents towards the end of this year is likely as the market is awash with supply of residential units. Image Credit: Supplied

3 of 12

TOWN SQUARE DUBAI: — TOWN SQUARE DUBAI: It is one of the most affordable areas for rent right now in Dubai as new residential units enter the rental market, which could pile up pressure on rental values. Image Credit: Clint Egbert / Gulf News

4 of 12

Jumeirah Village Circle — DUBAI SOUTH: Rents for residential apartments have fallen across the board in 2020. Image Credit: Clint Egbert / Gulf News

5 of 12

Apartments at Jumeirah Village Circle — JUMEIRAH VILLAGE CIRCLE: Good value for money for residents looking to save on rent in a low-rise, quiet neighborhood. Image Credit: Pankaj Sharma/Gulf News Archives

6 of 12

TOWN SQUARE DUBAI: In this district, a two-bedroom apartment typically rented for Dh55,000 to Dh58,000 per annum, has dropped to Dh40,000 to Dh47,000. Three-bedroom apartments were renting from Dh68,000 to Dh72,000. Now they are going for Dh62,000 to Dh64,000 per annum, according to Sana Faisal, a realty agent with Indus Real Estate. — TOWN SQUARE DUBAI: In this district, a two-bedroom apartment typically rented for Dh55,000 to Dh58,000 per annum, has dropped to Dh40,000 to Dh47,000. Three-bedroom apartments were renting from Dh68,000 to Dh72,000. Now they are going for Dh62,000 to Dh64,000 per annum, according to Sana Faisal, a realty agent with Indus Real Estate. Image Credit: Supplied

7 of 12

NAT 200210 sustainability 1-1581322946741 — DUBAILAND: Rents for residential apartments have fallen across the board in Dubai this 2020. Property professionals expect a further decline until the end of the year. Image Credit:

8 of 12

10 cheap places to rent — DUBAI SPORTS CITY. It's not just for fitness fanatics, but also for people looking to save on rent. Dubai Sports City and Dubailand are two areas that saw rental declines this 2020 greater than 13 per cent, the average drop for apartment leases this year across the city so far. Image Credit: Gulf News

9 of 12

1.1607473_3121569380 — JUMEIRAH VILLAGE CIRCLE: The main reason behind the drop in rental values is not entirely the coronavirus pandemic, but rather an over-supply situation. Image Credit: Pankaj Sharma/Gulf News archives

10 of 12

10 cheapest places to rent — AL BARSHA SOUTH: On average, villa rents in Dubai have fallen 10% year on year (June 2019 vs June 2020) and 13% for apartments from the beginning of this year (Jan 2020 vs June 2020). Image Credit: Gulf News Archive

11 of 12

1.1584268-1070009667 — DUBAI INTERNATIONAL MEDIA PRODUCTION ZONE: A residential building complex at Dubai's IMPZ, where rents have dropped by at least 13% from January to June 2020, Image Credit: Zarina Fernandes/ Gulf News Archives

12 of 12

1.794959_2122587442 — DUBAI SPORTS CITY: Residential buildings rising. The supply of an additional 16,400 ready residential units is expected to enter the rental market, likely pushing rents down further, according to Asteco. Image Credit: Gulf News Archive

Latest In

This website stores cookies on your computer. These cookies are used to improve your experience and provide more personalized service to you. Both on your website and other media. To find out more about the cookies and data we use, please check out our Privacy Policy.