Dubai Rent 2023: These Are The Most Expensive Neighbourhoods With Rent Fluctuations; List Inside

People who are looking out for renting or buying properties in Dubai are well aware of the fact that properties here range from super-expensive to affordable prices. The neighbourhoods in Dubai charge you prices depending on the amenities. So are you moving to Dubai soon? If yes, then you should get familiar with the areas in Dubai which are facing fluctuations in rents due to the supply crunch.

Rising & Falling Property Rates In Dubai

During the first half of 2023, high-end neighbourhoods continued to lead the surge in rents in Dubai. Meanwhile, certain previously popular neighbourhoods experienced a supply shortage that caused more individuals to choose ownership. Industry insiders claim that between January and June, rentals for luxury villas rose by up to 70% as a result of the increasing demand for villas.

Affordable flat rentals in Dubai’s well-liked neighbourhoods have seen rent increases going up to 17%. The price of rent of a premium flat could see an increase by as much as 32%. Popular communities have seen rent increases of up to 50% in the villa class. All these statistics have been mentioned according to the data released by Bayut.

Also Read: Rent Now, Pay Later! Dubai Resident Will Soon Be Able To Enjoy This Scheme

Area Wise Rise And Fall Of Dubai Rent

Here’s a list of Dubai neighbourhoods that faced a rise and fall in cost in the last month.

1. Neighbourhoods Where The Price Rose In June

Apartments

1. Dubai Marina
2. Green Community (DIP)
3. Arjan/Liwan/IMPZ
4. DIFC
5. Remraam

Villas

1. The Meadows
2. JVT
3. JVC
4. The Villa
5. Emirates Hills

2. Neighbourhoods Where The Price Dropped In June

Apartments

1. Palm Jumeirah
2. Living Legends
3. Jebel Ali
4. Discovery Gardens

Villas

1. Victory Heights
2. Arabian Ranches
3. Deira
4. Al Furjan
5. Mudon

However, the rents keep fluctuating. Now according to Bayut statistics, rents in these neighbourhoods have risen by 6-16 per cent.

The prospective renters have been drawn to more cheap neighbourhoods. The list includes Jumeirah Village Circle, Bur Dubai, Al Nahda, Deira, and International City.

The most well-liked neighbourhoods amongst tenants in the luxury market were Business Bay, Downtown, Dubai Hills Estate, and Palm Jumeirah.

The top villa developments in 2023 were Damac Hills 2, Al Barsha, Arabian Ranches 3, Mirdif, Dubai South, Jumeirah Village Circle, and Dubailand.

So, which area would you prefer to rent a property in Dubai?

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