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29 March 2024

Dubai’s rent index is updated… know your rent

Published
By Parag Deulgaonkar

Though residents of Dubai may be complaining of the rental increases by their landlords, the second update of Real Estate Regulatory Agency’s (Rera) rent index reveals only some freehold communities are witnessing rate increases.

The second update of the rent index shows studio and one-bed units in Remraam, of the 11 communities that Emirates 24|7 has tracked through the index this year, saw rents increasing by a maximum of 12 to 14 per cent with lease rates between Dh40,000 and Dh45,000 per annum (pa) compared to the first index update (January-April 2014).

One beds in Remraam jumped by 9 to 11 per cent with rents between Dh50,000 and Dh60,000 pa, while two beds rose by 7 to 16 per cent with leases starting from Dh70,000 to Dh80,000 pa.



Rentals for studio apartments in International City went up by 14.28 per cent with units being currently leased for Dh30,000 to 40,000 pa. Two beds are up nine per cent and are available for Dh45,000 to Dh60,000 pa, while rents for one-bed units haven’t seen any changes and remain at Dh35,000 to Dh45,000 pa.

Rent for studio units in Discovery Gardens jumped by 11.11 per cent to between Dh40,000 and Dh50,000 pa. One-bed apartments saw rents rising 7 to 9 per cent from Dh60,000 to Dh70,000 pa. Rentals for two beds remained steady at Dh70,000 to Dh85,000 pa.

Lease rates for studio apartments in Dubai Marina rose by 7 per cent with leases starting between Dh60,000 to Dh75,000 pa. One and two beds saw no increases and remain at Dh90,000-Dh120,000 pa and Dh140,000-Dh170,000 pa, respectively.

According to the new update, Business Bay, Jumeirah Lakes Towers and Dubai Silicon Oasis registered no increases, at all.

Business Bay remained stable across for studios, one and two-bed apartments. Rentals range between Dh60,000-Dh70,000 pa, Dh80,000-Dh100,000 pa and Dh120,000-Dh140,000 pa, respectively.

Lease rates in Jumeirah Lakes Towers stayed at Dh55,000-75000 pa for studio, Dh80,000-Dh100,000 pa for one-bed and Dh120,000-Dh150,000 pa for two-bed units.

Studios, one- and two-bed units in Dubai Silicon Oasis are currently being leased for Dh35,000-Dh40,000 pa, Dh50,000-Dh60,000 pa and Dh60,000-Dh75,000 pa, respectively.