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There are other signs that rising rents in Dubai are starting to drive up prices, even in places where they have remained mostly stable for most of the previous 22 months. Prices in the Deira area, where there are several rental options, increased by 4.4% in September 2022. As a result, a typical large two-bedroom apartment can now bring the landlord from 60,000 to 70,000 dirhams.
In fact, according to the real estate company CBRE, Deira district ranked second in terms of the largest rent growth in September 2022, second only to Arjan district, another popular area for middle- and upper-middle-income families, which grew by 4.7%.
In Dubai as a whole, the growth in September was 2.5%, which clearly shows no signs of slowing rent growth. The richest areas of the city, Palm Jumeirah, Jumeirah and Downtown Dubai, showed growth of 3.8%, 4.1% and 3.5% during the month. Another well-known premium destination, Dubai Marina, increased by 2.6%.
In the Emirate, rent growth exceeded 26% in the last 12 months ending in September 2022.
