Dubai residential rents jump 27.2% in Q3
<p>Dubai’s residential rents jumped 27.2 per cent in the third quarter of 2023 compared to the same period last year, and 2.1 per cent since the previous quarter.</p>
<p>Villa rentals rose 38.7 per cent annually but witnessed an insignificant change when compared to the previous quarter, ValuStrat’s Q3 report said.</p>
<p>Average annual rents for three-bedroom villas stood at Dh312,000, four-beds at Dh383,000, and five-bedroom villas at Dh492,000. Apartment asking rents grew 19.1 per cent YoY and 3.6 per cent QoQ. Average asking rents per annum for studio apartments were Dh51,000, for one-bedroom at Dh 75,000, two-bedroom at Dh111,000, and three-bedroom apartments were Dh170,000. Residential occupancy in Dubai was estimated at 88.9 per cent during the third quarter.</p>
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