Bayut & dubizzle’s Dubai rental market report for Q3 2022

• Top Neighbourhoods
• Affordable Apartment Rentals
• Luxury Apartment Rentals
• Affordable Villa Rentals
• Luxury Villa Rentals

We’re already in the last quarter of the year and it’s time to look at how Dubai rental property prices performed in Q3 2022. The Bayut & dubizzle Dubai Q3 rental property market report 2022 analyses how the advertised rental costs for apartments and villas have fared in the emirate’s most popular residential districts.  

Taking a quick glance at the trends observed for Q3 Dubai rental property prices 2022, it’s noticeable that rents continued to increase:

• Housing costs have increased by up to 15% in the affordable segment.
• Luxury rentals experienced upticks of up to 25% in some areas.

To identify rental trends and consumer preferences for this real estate rental market report, our data experts have compared the average asking rents recorded on Bayut & dubizzle during Q3 2022 (excluding room share) to the Dubai rent trends observed during Q2 2022.

TOP NEIGHBOURHOODS FOR RENTING VILLAS AND APARTMENTS IN Q3 2022

The increase in rental costs for properties in Dubai are fueled by various circumstances. The flexible residency visa schemes and relaxations in long-term visa requirements are potential contributing factors towards the growing number of people looking to settle in Dubai.

As per our Dubai Q3 rental real estate market report 2022, tenants on a budget preferred family-friendly suburban communities, such as:

• Jumeirah Village Circle (JVC)
• Al Nahda
• DAMAC Hills 2 (Akoya Oxygen)
• Mirdif

Tenants looking for luxury homes showed an inclination towards the established neighbourhoods of: 

• Dubai Marina
• Downtown Dubai
• Al Barsha
• Jumeirah

For detailed insights into the rental price movements observed across popular districts for apartments and villas, let’s now take a look at the Bayut and dubizzle Dubai Q3 rental property market report 2022. 

We have segmented the popular areas for rental apartments and villas into ‘Affordable’ and ‘Luxury’ categories to provide a more tailored view of the Dubai rental market.

JUMEIRAH VILLAGE CIRCLE IS THE MOST SEARCHED-FOR AREA TO RENT AFFORDABLE PROPERTY IN DUBAI

RENTAL PRICES IN DUBAI FOR AFFORDABLE APARTMENTS IN POPULAR AREAS – BAYUT & DUBIZZLE’S Q3 2022 MARKET REPORT

Based on the data collected for the Bayut & dubizzle Dubai Q3 rental real estate market report 2022, Jumeirah Village Circle (JVC) remained the top preference for budget-friendly apartment rentals in Dubai:

• The asking rents in JVC rental flats increased by 1.89% for 2-bed flats and 5.61% for 1-bed units. The average rent for studios remained unchanged in Q3 2022.

• On average, tenants paid AED 36k for studios, AED 51k for 1-bed and AED 72k for 2-bed flat rentals during the past three months.

Al Nahda also remained a popular choice for those interested in affordable rental apartments in Dubai:

• Rental prices here remained constant for studios and 1-bed units. The 2-bed flats became more expensive by 4.74%.

• The studio rentals in Al Nahda averaged at AED 25k in Q3 2022, whereas the 1-bed and 2-bed units were let out for an average of AED 33k and AED 46k, respectively.

Other areas that caught tenant attention for reasonably-priced apartments include:

• Bur Dubai
• Deira 
• Dubai Silicon Oasis

The rental costs for studios in Bur Dubai and Dubai Silicon Oasis remained unchanged. All other units in these three areas witnessed rent increases of between 1% and 12%.

DUBAI MARINA REMAINS THE TOP CHOICE FOR LUXURY APARTMENT RENTALS

RENTAL PRICES IN DUBAI FOR LUXURY APARTMENTS – BAYUT & DUBIZZLE’S Q3 2022 PROPERTY MARKET REPORT FOR DUBAI

The Bayut & dubizzle Dubai Q3 rental real estate market report 2022 revealed that Dubai Marina maintained its popularity for luxury apartment rentals:

• The rental costs for upscale flats in Dubai Marina remained constant for 1 and 3-bed units. The rent for 2-bed apartments increased by 2.36% in Q3 2022.

• During the past three months, asking rents in Dubai Marina averaged AED 91k for 1-bed, AED 139k for 2-bed and AED 209k for 3-bed flats.

Tenants in search of expensive apartments also showed a keen interest in rental properties in Downtown Dubai:

• Average rents for 1-bed flats in Downtown Dubai remained unchanged during Q3. The 2 and 3-bed flats became more expensive by 0.93% and 10.24%, respectively.

• Tenants interested in Downtown Dubai rental apartments would be looking at an annual average budget of AED 114k for a 1-bed, AED 231k for a 2-bed and AED 355k for 3-bed units.

The data collected for Bayut and dubizzle’s Dubai Q3 rental property market report 2022 showed that tenants also preferred the luxury flats in areas such as:

• Dubai Hills Estate
• The Lagoons
• Jumeirah Beach Residence

Average rental prices for these areas generally increased between 1% and 14%. The only exceptions were the 1-bed flats in The Lagoons that became slightly more affordable by 0.63%. The rents for 3-bed flats in Dubai Hills Estate remained unchanged.

Apartments for Rent in Dubai

View all

AED 110,000 Yearly

• 1 BED
• |
• 2 BATHS
• |
• 704 SQFT

Binghatti Canal Building, Business Bay, Dubai, UAE

AED 78,000 Yearly

• 1 BED
• |
• 2 BATHS
• |
• 810 SQFT

SH Living 1, JVC District 14, Jumeirah Village Circle (JVC), Dubai, UAE

AED 69,000 Yearly

• 1 BED
• |
• 2 BATHS
• |
• 863 SQFT

Al Naim Residence, JVC District 10, Jumeirah Village Circle (JVC), Dubai, UAE

AED 86,990 Yearly

• 2 BEDS
• |
• 3 BATHS
• |
• 1199 SQFT

Art 8, Barsha Heights (Tecom), Dubai, UAE

AED 50,000 Yearly

• STUDIO
• |
• 1 BATH
• |
• 411 SQFT

Oxford Terraces, JVC District 11, Jumeirah Village Circle (JVC), Dubai, UAE

AED 105,000 Yearly

• 2 BEDS
• |
• 3 BATHS
• |
• 1334 SQFT

Imperial Tower, JVC District 17, Jumeirah Village Circle (JVC), Dubai, UAE

AED 110,000 Yearly

• 1 BED
• |
• 2 BATHS
• |
• 842 SQFT

The Bay, Business Bay, Dubai, UAE

AED 69,999 Yearly

• 1 BED
• |
• 2 BATHS
• |
• 646 SQFT

Binghatti Luna, JVC District 12, Jumeirah Village Circle (JVC), Dubai, UAE

AED 95,000 Yearly

• 2 BEDS
• |
• 2 BATHS
• |
• 859 SQFT

Equiti Arcade, Al Furjan, Dubai, UAE

AED 105,000 Yearly

• 2 BEDS
• |
• 2 BATHS
• |
• 916 SQFT

Equiti Arcade, Al Furjan, Dubai, UAE

DAMAC HILLS 2 IS THE MOST SOUGHT-AFTER AREA FOR RENTING AFFORDABLE VILLAS IN DUBAI

POPULAR AREAS TO RENT VILLAS IN DUBAI –BAYUT & DUBIZZLE’S Q3 2022 DUBAI REAL ESTATE MARKET REPORT

As per our Dubai Q3 rental property market report 2022, tenants looking for affordable villas showed the most interest in DAMAC Hills 2 (Akoya Oxygen):

• The average annual rent for 3-bed and 5-bed villas in the area increased by up to 3%. The rents for 4-bed houses in DAMAC Hills 2 decreased by 3.83%.

• Renters considering moving to DAMAC Hills 2 required a rental budget of AED 61k for 3-bed, AED 72k for 4-bed and AED 98k for 5-bed villas.

During Q3 2022, potential renters also showed an inclination towards the budget villas in Mirdif:

• The average rents in Mirdif experienced an increase of between 2% and 9% across all bed types.

• The 3-bed villas for rent in Mirdif cost around AED 99k per annum. The rents for 4-bed and 5-bed houses averages at AED 124k and AED 134k, respectively.

Besides these areas, tenants considered the affordable houses in:

• Dubailand
• Jumeirah Village Circle
• The Springs

Annual rentals for most villas in these districts recorded increases of between 3% and 15%. However, the cost for 3-bed units in Dubailand remained unchanged and 5-bed units in JVC became more affordable by 1.59%.

AL BARSHA IS THE MOST POPULAR AREA FOR LUXURY VILLA RENTALS IN DUBAI

POPULAR COMMUNITIES TO RENT LUXURY HOUSES IN DUBAI – BAYUT & DUBIZZLE’S Q3 2022 DUBAI PROPERTY MARKET REPORT

Bayut & dubizzle’s combined Dubai Q3 rental real estate market report 2022 has revealed that Al Barsha remained a tenant favourite for luxury villas:

• The rental costs for 4 and 6-bed houses in Al Barsha increased by 10% and 18%, respectively, whereas the cost of 5-bed villas decreased by 1.53%.

• Tenants can expect to pay AED 230k for 4-bed, AED 305k for 5-bed and AED 459k for 6-bed houses in Al Barsha.

During Q3 2022, potential tenants looking for expensive villas also focused their search on Jumeirah:

• The average annual rent for villas in Jumeirah remained constant for 4-bed units. The 5-bed units recorded an uptick of 2.63%, whereas the 6-bed houses became more affordable by 6.15%.

• During Q3 2022, the villas for rent in Jumeirah were priced at AED 357k for 4-bed, AED 345k for 5-bed and AED 440k for 6-bed units. The higher demand for 4-bed houses allowed landlords to list properties at higher price points.

Other areas that caught tenant attention for luxury houses in Dubai included:

• Dubai Hills Estate
• Arabian Ranches 2
• Umm Suqeim

During Q3, the annual rent for properties in these areas increased from between 3% and 25%. The only exception was the 5-bed villas in Arabian Ranches 2, which recorded a 0.91% decrease in rent.

Villas for Rent in Dubai

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AED 2,200,000 Yearly

• 6 BEDS
• |
• 7 BATHS
• |
• 12639 SQFT

Emerald Hills, Dubai Hills Estate, Dubai, UAE

AED 220,000 Yearly

• 4 BEDS
• |
• 5 BATHS
• |
• 2328 SQFT

La Rosa 3, La Rosa, Villanova, Dubailand, Dubai, UAE

AED 400,000 Yearly

• 3 BEDS
• |
• 3 BATHS
• |
• 3445 SQFT

The Meadows 9, The Meadows, Dubai, UAE

AED 465,000 Yearly

• 4 BEDS
• |
• 5 BATHS
• |
• 6501 SQFT

Dubai Style, Al Furjan Villas, Al Furjan, Dubai, UAE

AED 400,000 Yearly

• 5 BEDS
• |
• 6 BATHS
• |
• 1001 SQFT

Valencia, The Villa, Dubai, UAE

AED 435,000 Yearly

• 4 BEDS
• |
• 5 BATHS
• |
• 6096 SQFT

Murooj Al Furjan, Al Furjan, Dubai, UAE

AED 275,000 Yearly

• 3 BEDS
• |
• 4 BATHS
• |
• 2722 SQFT

Flora, DAMAC Hills, Dubai, UAE

AED 135,000 Yearly

• 3 BEDS
• |
• 3 BATHS
• |
• 1517 SQFT

Expo Golf Villas 4 (Greenviews 1), Expo Golf Villas, Emaar South, Dubai South, Dubai, UAE

AED 540,000 Yearly

• 5 BEDS
• |
• 6 BATHS
• |
• 8596 SQFT

Savannah, Arabian Ranches, Dubai, UAE

AED 420,000 Yearly

• 3 BEDS
• |
• 4 BATHS
• |
• 3525 SQFT

Jumeirah Park Homes, Jumeirah Park, Dubai, UAE

That’s all for our Dubai Q3 rental property market report 2022. If you’re looking for property investment opportunities in the emirate, take a look at our Q3 2022 Dubai sales market report.

We’ll soon be releasing the Bayut & dubizzle property market reports for Abu Dhabi, Sharjah and Ajman, so stay tuned to MyBayut.

Disclaimer: The above Dubai rental property market report (MKT RPT Q3 2022) is based on prices for ready properties advertised by real estate agencies on behalf of their clients on Bayut.com & dubizzle property (excluding room share), and is not representative of actual real estate transactions conducted in Dubai.