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The cost of renting an apartment in Dubai's Palm Jumeirah district can be up to $800,000 per year. The cheapest rent now is $17,000 per year for a studio apartment with an area of 548 square meters - $31 per square meter. The most expensive rental is $817,000 per year for a four-bedroom penthouse at the Andaz Hotel.
However, since the area of the penthouse is only 3,133 square meters, the price per square meter is 260 dollars. Another penthouse at the FIVE Hotel is estimated at $477,000 for a year, but with an area of only 780 square meters, it reaches a staggering $611 per square meter.
According to new data from CBRE real estate consulting company, prices for the sale of real estate in Dubai increased in August 2022.
According to the report, average apartment prices increased by 7.7% in August, while villa prices increased by 15.8% year-on-year. On a monthly basis, apartment prices increased by 0.5% compared to July, while villa prices increased by 0.3%.
