Revealed: the most affordable and expensive areas in Dubai to rent an apartment – News


Strong demand for affordable villas was also noted in Mirdif, followed by Akoya Oxygen and JVC.



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Posted: Mon 10 Jan 2022, 11:50

Last update: Mon 10 Jan 2022, 13:54

Jumeirah Village Circle (JVC), Al Nahda, Mirdif, Dubai Silicon Oasis and Akoya Oxygen were the most popular areas in Dubai to rent apartments in the affordable segment, according to a new report released on Monday.

A study released by Zoom Property on Monday reported that JVC saw a 1.44%, 1.29% and 4.76% increase in rental values ​​of studios, 1-bedroom apartments and 2-bedroom apartments, respectively, on the third floor. quarter of last year.

While rentals in areas near the Expo 2020 site such as South Dubai have also accelerated due to the six-month world fair in the last quarter.

Strong demand for affordable villas was also noted in Mirdif, followed by Akoya Oxygen and JVC. Reem and Dubai South have also reported an increase in rental values.

“The return of foreign investors and the effective management of the pandemic are some of the main reasons that have led to the strong recovery in the rental market. The start of Expo 2020 Dubai, which attracts visitors from all over the world, has also played a major role in boosting the real estate market, ”said Ata Shobeiry, CEO of Zoom Property.

Real estate consultancy ValuStrat said 2021 performed better than expected, with sale transactions breaking previous records and capital values ​​mostly reaching pre-pandemic levels. He predicted that 2022 will continue to see prices and rents rise across the city, but at lower and healthier growth rates due to supportive economic reforms and an accelerated vaccination program.

According to Zoom property, Dubai Marina, Downtown. Jumeirah Beach Residence (JBR), Palm Jumeirah, and Al Barsha were the most popular areas in the upscale category in 2021.

For the luxury villa category, most Dubai renters preferred the Jumeirah area while Al Barsha, Umm Suqeim, Dubai Hills Estate, and Arabian Ranches remained other popular choices.

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The study indicates that rents continued to increase for apartments and villas last year, registering an increase of 3% for apartments and more than 20% for villas on average last year due to the strong calls for bigger homes after the Covid-19 outbreak. pandemic. Rentals have increased by up to 40 percent in some of the popular areas such as Dubai Hills and Arabian Ranches due to high demand.

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