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In 2022, the rental market becomes comfortable not only for tenants, but also for landlords, however, rent growth will not be uniform throughout the city.
Analysts, top managers and industry experts said that COVID-19 will continue to have an impact on remote work, thereby maintaining high demand for villas. The construction of villas recorded a surge in demand and, consequently, an increase in rental rates as a result of changes in working and household habits. Villa rents could rise by 15% in the coming quarters of 2022 as demand is high due to the influx of new residents.
Rental rates for real estate in prestigious areas of Dubai will continue to trend upward, as the emirate has attracted investors from all over the world after the successful fight against the COVID-19 pandemic and recent visa reforms.
Despite the commissioning of 17,000 housing units in the Dubai housing stock, bringing the total number of units to 657,000, housing rents in Dubai have increased in almost every community, with some communities experiencing double-digit growth during the first quarter of 2022. Ultra-luxury villas are showing moderate growth as prices have increased significantly over the past couple of years. Apartment rents are also rising in many areas of Dubai, as a 6% increase was recorded in the last three months of 2022.
