Dubai’s rental market recorded 42,076 leasing transactions in October, according to recent data.
While this represents a 15% decrease compared to the previous year, the city’s appeal remains strong, with shifts in tenant preferences. New contracts accounted for 41% of leases, while renewals led with 59%. Al Sufouh, Motor City, and Dubai South were identified as growth areas for apartments, villas, and townhouses, respectively. Notably, Al Sufouh’s average apartment rent stood at Dh125,200, and Motor City villas averaged Dh316,600.
Top rental communities continue to attract interest, with Dubai Marina, Business Bay, and Jumeirah Lake Towers being popular among apartment seekers. For villas, Arabian Ranches 3, Damac Hills, and Dubai Hills 2 are in high demand. Betterhomes reported a 61% increase in tenant leads year-over-year, emphasizing the allure of these areas.
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The average rental prices in Dubai’s top communities were Dh120,000 for apartments, Dh159,000 for townhouses, and Dh401,000 for villas.
In the sales market, October saw 19,413 transactions, marking a 77% year-over-year increase. The total transaction value reached Dh50.28 billion, with the average price per square foot rising by 17% to Dh1,473. Off-plan properties dominated, comprising 67% of total sales, appealing to buyers looking to invest in Dubai’s future developments.
In terms of sales by community, Dubai Marina, Jumeirah Village Circle, and Dubai Hills Estate led apartment sales, while Jumeirah Village Circle, Dubai Land, and Arabian Ranches saw the most villa sales.
The average sale prices were Dh1.69 million for apartments, Dh2.96 million for townhouses, and Dh13.54 million for villas, as per Betterhomes data.
“With 77% of activity coming from investors and 23% from end-users, the sales market reflects both local and international confidence in Dubai’s growth,” said a Betterhomes spokesperson.