Bayut’s 2022 Dubai rental market report
- Top Neighbourhoods
- Affordable Apartment Rentals
- Luxury Apartment Rentals
- Affordable Villa Rentals
- Luxury Villa Rentals
It’s a well known fact that 2022 has been a fantastic year for the Dubai real estate market, with record breaking transactions and unprecedented demand for property propelling the rental property prices on an upward trajectory. Our Bayut Dubai rental market report for 2022 analyses how the advertised rental prices for villas and apartments have fared in the emirate’s most popular residential districts.
At a glance at the Dubai rental property prices have significantly increased across the board in 2022:
- Rental costs have experienced upticks of up to 23.4% in the affordable segment.
- The luxury segment reported increases of up to 54% in rental costs, the most significant impact was visible in prices for properties in areas with limited inventory, such as Dubai Hills Estate, Palm Jumeirah and Jumeirah.
To identify consumer preferences and rental trends in Dubai for this real estate rental market report, our data analysts have compared the average asking rents observed on Bayut during 2022 (excluding room share) to the Dubai rent trends observed during 2021.
TOP NEIGHBOURHOODS FOR RENTING VILLAS AND APARTMENTS IN 2022
With Dubai’s ever-increasing popularity as one of the best places to live and work in the world, it is no surprise that demand for homes has significantly risen. This ongoing demand for accommodation, fueled by the influx of new residents, has led to an unprecedented boom in the property prices in Dubai for rental properties.
As per our Dubai real estate market report 2022, tenants looking for affordable housing preferred family-friendly communities, such as:
- Jumeirah Village Circle (JVC)
- Bur Dubai
- DAMAC Hills 2
- Mirdif
Of the aforementioned areas, Jumeirah Village Circle, DAMAC Hills 2 and Mirdif are popular suburbs, whereas Bur Dubai lies firmly within city limits.
Tenants looking for luxury homes showed an inclination towards the established neighbourhoods that fall within central city limits, such as:
- Dubai Marina
- Business Bay
- Al Barsha
- Jumeirah
To get a better idea of the rental price trends observed across popular neighbourhoods for apartments and villas, let’s look at Bayut’s Dubai rental market report for 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’S 2022 MARKET REPORT
POPULAR AREAS | STUDIO Avg. Yearly RentChange from 2021 | 1-BED Avg. Yearly RentChange from 2021 | 2-BED Avg. Yearly RentChange from 2021 |
|---|---|---|---|
| Jumeirah Village Circle (JVC) | STUDIO Avg. Yearly RentChange from 2021
| 1-BED Avg. Yearly RentChange from 2021
| 2-BED Avg. Yearly RentChange from 2021
|
| Bur Dubai | STUDIO Avg. Yearly RentChange from 2021
| 1-BED Avg. Yearly RentChange from 2021
| 2-BED Avg. Yearly RentChange from 2021
|
| Deira | STUDIO Avg. Yearly RentChange from 2021
| 1-BED Avg. Yearly RentChange from 2021
| 2-BED Avg. Yearly RentChange from 2021
|
| Al Nahda | STUDIO Avg. Yearly RentChange from 2021
| 1-BED Avg. Yearly RentChange from 2021
| 2-BED Avg. Yearly RentChange from 2021
|
| Dubai Silicon Oasis | STUDIO Avg. Yearly RentChange from 2021
| 1-BED Avg. Yearly RentChange from 2021
| 2-BED Avg. Yearly RentChange from 2021
|
According to the data collected for Bayut’s Dubai rental market report for 2022, Jumeirah Village Circle (JVC) maintained its popularity as the top choice for affordable apartment rentals in Dubai:
- The average rents for JVC rental flats increased by 23.4% for studios, owing to increased demand for properties in the area. The same was noticed for 1-bed and 2-bed units, which reported increases of 15.1% and 14.7% in rental costs in 2022.
- Tenants paid AED 36k for studios, AED 51k for 1-bed and AED 73k for 2-bed flats as average annual rent during the year.
Bur Dubai was another area that appealed to tenants interested in affordable rental apartments in Dubai:
- Rental prices here have increased for all property types, recording upticks of 6% to 8% in 2022.
- The studio rentals in Bur Dubai recorded average rental costs of AED 33k in 2022. The 1-bed and 2-bed units were rented out for an average of AED 49k and AED 70k, respectively.
Other areas that attracted tenant interest for reasonably-priced apartments include:
The average rents for these areas recorded increases of up to 18.5% for all property types. The most significant increases were reported in prices of studio, 1 and 2 bed flats in Dubai Silicon Oasis. This may be attributed to landlords listing their properties at higher prices in line with increased demand.
A similar trend for property prices in Dubai can be observed in the statistics reported by the Dubai Land Department.
RENTAL TRANSACTIONS FOR AFFORDABLE APARTMENTS AS PER DLD
AREA | AVERAGE RENT | CHANGE FROM 2021 |
|---|---|---|
AREA Jumeirah Village Circle (JVC) | AVERAGE RENT 46,398 | CHANGE FROM 2021 7.46 % |
AREA Bur Dubai | AVERAGE RENT 53,969 | CHANGE FROM 2021 1.73 % |
AREA Deira | AVERAGE RENT 46,605 | CHANGE FROM 2021 2.58 % |
AREA Al Nahda | AVERAGE RENT 42,916 | CHANGE FROM 2021 2.28 % |
AREA Dubai Silicon Oasis | AVERAGE RENT 41,722 | CHANGE FROM 2021 8.34 % |
DUBAI MARINA REMAINS THE TOP CHOICE FOR LUXURY APARTMENT RENTALS
RENTAL PRICES IN DUBAI FOR LUXURY APARTMENTS – BAYUT’S 2022 PROPERTY MARKET REPORT FOR DUBAI
POPULAR AREAS | 1-BED Avg. Yearly RentChange from 2021 | 2-BED Avg. Yearly RentChange from 2021 | 3-BED Avg. Yearly RentChange from 2021 |
|---|---|---|---|
| Dubai Marina | 1-BED Avg. Yearly RentChange from 2021
| 2-BED Avg. Yearly RentChange from 2021
| 3-BED Avg. Yearly RentChange from 2021
|
| Business Bay | 1-BED Avg. Yearly RentChange from 2021
| 2-BED Avg. Yearly RentChange from 2021
| 3-BED Avg. Yearly RentChange from 2021
|
| Downtown Dubai | 1-BED Avg. Yearly RentChange from 2021
| 2-BED Avg. Yearly RentChange from 2021
| 3-BED Avg. Yearly RentChange from 2021
|
| Dubai Hills Estate | 1-BED Avg. Yearly RentChange from 2021
| 2-BED Avg. Yearly RentChange from 2021
| 3-BED Avg. Yearly RentChange from 2021
|
| Palm Jumeirah | 1-BED Avg. Yearly RentChange from 2021
| 2-BED Avg. Yearly RentChange from 2021
| 3-BED Avg. Yearly RentChange from 2021
|
| Not available due to low/no historical inventory or influx of off-plan properties | |||
The Bayut 2022 rental report for Dubai showed that Dubai Marina remained the most popular choice for luxury apartments:
- The rental costs for luxury apartments in Dubai Marina increased across the board, recording a 31.9% uptick for 1-bed units, 36.3% for 2-beds and 38.7% for 3-bed units in 2022. The increased demand for apartments in the area has pushed prices upwards.
- During 2022, the asking rents in Dubai Marina averaged AED 91k for a 1-bed, AED 140k for 2-beds and AED 207k for 3-bed units.
Tenants in search of luxury apartments also showed an inclination for the rental properties in Business Bay:
- The average rent for 1-bed apartments in Business Bay increased by almost 26.8% during 2022. The average rentals for 2 and 3-bed flats saw upticks of 33.8% and 24.8%, respectively.
- Tenants looking to rent apartments in Business Bay can expect to pay around AED 78k for a 1-bed, AED 118k for a 2-bed and AED 159k for 3-bed units.
The data studies for Bayut’s Dubai rental property market report 2022 revealed that tenants interested in expensive flats also preferred:
- Downtown Dubai
- Dubai Hills Estate
- Palm Jumeirah
The average rental prices for these areas, as observed on Bayut, have increased by up to 54%. The most significant increases were observed in Palm Jumeirah and Dubai Hills Estate, where limited inventory drove the prices upwards in the wake of increasing demand.
These changes were also reflected in the rental trends observed by the DLD during the course of 2022.
RENTAL TRANSACTIONS FOR LUXURY APARTMENTS AS PER DLD
AREA | AVERAGE RENT | CHANGE FROM 2021 |
|---|---|---|
AREA Dubai Marina | AVERAGE RENT 93,481 | CHANGE FROM 2021 -13.49 % |
AREA Business Bay | AVERAGE RENT 78,836 | CHANGE FROM 2021 11.86 % |
AREA Downtown Dubai | AVERAGE RENT 117,984 | CHANGE FROM 2021 17.46 % |
AREA Dubai Hills Estate | AVERAGE RENT 84,773 | CHANGE FROM 2021 13.68 % |
AREA Palm Jumeirah | AVERAGE RENT 149,021 | CHANGE FROM 2021 16.08 % |
- STUDIO
- |
- 1 BATH
- |
- 491 SQFT
- 1 BED
- |
- 2 BATHS
- |
- 911 SQFT
- 1 BED
- |
- 2 BATHS
- |
- 911 SQFT
- 1 BED
- |
- 2 BATHS
- |
- 879 SQFT
- 1 BED
- |
- 2 BATHS
- |
- 731 SQFT
- 2 BEDS
- |
- 3 BATHS
- |
- 1299 SQFT
- 1 BED
- |
- 2 BATHS
- |
- 766 SQFT
- 1 BED
- |
- 2 BATHS
- |
- 787 SQFT
DAMAC HILLS 2 IS THE MOST SOUGHT-AFTER AREA FOR RENTING AFFORDABLE VILLAS IN DUBAI
POPULAR AREAS TO RENT VILLAS IN DUBAI – BAYUT’S 2022 DUBAI REAL ESTATE MARKET REPORT
POPULAR AREAS | 3-BED Avg. Yearly RentChange from 2021 | 4-BED Avg. Yearly RentChange from 2021 | 5-BED Avg. Yearly RentChange from 2021 |
|---|---|---|---|
| DAMAC Hills 2 | 3-BED Avg. Yearly RentChange from 2021
| 4-BED Avg. Yearly RentChange from 2021
| 5-BED Avg. Yearly RentChange from 2021
|
| Mirdif | 3-BED Avg. Yearly RentChange from 2021
| 4-BED Avg. Yearly RentChange from 2021
| 5-BED Avg. Yearly RentChange from 2021
|
| Dubailand | 3-BED Avg. Yearly RentChange from 2021
| 4-BED Avg. Yearly RentChange from 2021
| 5-BED Avg. Yearly RentChange from 2021
|
| Jumeirah Village Circle (JVC) | 3-BED Avg. Yearly RentChange from 2021
| 4-BED Avg. Yearly RentChange from 2021
| 5-BED Avg. Yearly RentChange from 2021
|
| Reem | 3-BED Avg. Yearly RentChange from 2021
| 4-BED Avg. Yearly RentChange from 2021
| 5-BED Avg. Yearly RentChange from 2021 N/A |
| Not available due to low/no historical inventory or influx of off-plan properties | |||
Based on the rental trends in Dubai for 2022, tenants in search of affordable houses showed most interest in DAMAC Hills 2:
- The average rental rates for 3-bed and 5-bed villas in DAMAC Hills 2 increased by up to 9% while 4-bed houses in the area became more affordable by 5.37%.
- Renters interested in moving to DAMAC Hills 2, paid an average of AED 63k for 3-bed, AED 74k for 4-bed and AED 98k for 5-bed villas in 2022.
During 2022, potential tenants also showed interest for the affordable villas in Mirdif:
- The average rents in Mirdif increased across all bed types by between 12% and 14%.
- The rental value of 3-bed villas for rent in Mirdif averaged at AED 98k per annum. The rents for 4-bed and 5-bed houses averages at AED 120k and AED 132k, respectively.
Besides these areas, tenants showed preference for affordable houses in:
- Jumeirah Village Circle
- Reem
The annual rents for villas in these neighbourhoods experienced increases of up to 22.5%. The highest increases were observed for 3-bed villas in Jumeirah Village Circle and 4-bed villas in Reem, both of which recorded upticks of over 20%.
Here’s a look at the 2022 property price trends in these areas, as reported by the Dubai Land Department.
RENTAL TRANSACTIONS FOR AFFORDABLE VILLAS AS PER DLD
AREA | AVERAGE RENT | CHANGE FROM 2021 |
|---|---|---|
AREA DAMAC Hills 2 | AVERAGE RENT 61,637 | CHANGE FROM 2021 6.77 % |
AREA Mirdif | AVERAGE RENT 131,387 | CHANGE FROM 2021 2.95 % |
AREA Dubailand | AVERAGE RENT 119,870 | CHANGE FROM 2021 2.76 % |
AREA Jumeirah Village Circle (JVC) | AVERAGE RENT 119,892 | CHANGE FROM 2021 11.46 % |
AREA Reem | AVERAGE RENT 110,069 | CHANGE FROM 2021 -23.38 % |
AL BARSHA IS THE MOST POPULAR AREA FOR LUXURY VILLA RENTALS IN DUBAI
POPULAR COMMUNITIES TO RENT LUXURY HOUSES IN DUBAI – BAYUT’S 2022 DUBAI PROPERTY MARKET REPORT
POPULAR AREAS | 4-BED Avg. Yearly RentChange from 2021 | 5-BED Avg. Yearly RentChange from 2021 | 6-BED Avg. Yearly RentChange from 2021 |
|---|---|---|---|
| Al Barsha | 4-BED Avg. Yearly RentChange from 2021
| 5-BED Avg. Yearly RentChange from 2021
| 6-BED Avg. Yearly RentChange from 2021
|
| Jumeirah | 4-BED Avg. Yearly RentChange from 2021
| 5-BED Avg. Yearly RentChange from 2021
| 6-BED Avg. Yearly RentChange from 2021
|
| Dubai Hills Estate | 4-BED Avg. Yearly RentChange from 2021
| 5-BED Avg. Yearly RentChange from 2021
| 6-BED Avg. Yearly RentChange from 2021
|
| Umm Suqeim | 4-BED Avg. Yearly RentChange from 2021
| 5-BED Avg. Yearly RentChange from 2021
| 6-BED Avg. Yearly RentChange from 2021
|
| Arabian Ranches 2 | 4-BED Avg. Yearly RentChange from 2021
| 5-BED Avg. Yearly RentChange from 2021
| 6-BED Avg. Yearly RentChange from 2021
|
| Not available due to low/no historical inventory or influx of off-plan properties | |||
Consumer interest analysis for the 2022 Dubai real estate market report also revealed that Al Barsha continued to be the top choice for tenants interested in luxury villas:
- The average rents for 4-bed houses in Al Barsha increased by 26.8%, whereas the 5-bed and 6-bed homes became more expensive by 26.6% and 16.1% in 2022.
- Tenants interested in moving to villas in Al Barsha, can expect to pay AED 220k for 4-bed, AED 303k for 5-bed and AED 414k for 6-bed houses in Al Barsha.
Another area that attracted tenant interest for the more expensive villas in 2022 was Jumeirah:
- The average annual rent for villas in Jumeirah increased significantly for all bed types. The 5-bed and 6-bed houses in the area became more expensive by 31.5% and 16.4%, respectively.
- During 2022, the annual rentals for houses in Jumeirah averaged at AED 273k for 4-bed, AED 331k for 5-bed and AED 460k for 6-bed units.
Other areas that caught tenant attention for luxury houses in Dubai included:
- Dubai Hills Estate
- Arabian Ranches 2
- Umm Suqeim
In 2022, prices for rental properties in these areas recorded significant increases of up to 54%. The highest increase was observed for 4-bed villas in Jumeirah that are available in limited number as opposed to the growing demand for these properties.
Here are the average rents in these districts during 2022, as reported by the DLD.
RENTAL TRANSACTIONS FOR LUXURY VILLAS AS PER DLD
AREA | AVERAGE RENT | CHANGE FROM 2021 |
|---|---|---|
AREA Al Barsha | AVERAGE RENT 167,654 | CHANGE FROM 2021 N/A |
AREA Jumeirah | AVERAGE RENT 567,029 | CHANGE FROM 2021 N/A |
AREA Dubai Hills Estate | AVERAGE RENT 206,957 | CHANGE FROM 2021 26.97 % |
AREA Umm Suqeim | AVERAGE RENT 499,727 | CHANGE FROM 2021 N/A |
AREA Arabian Ranches 2 | AVERAGE RENT 182,993 | CHANGE FROM 2021 6.58 % |
- 3 BEDS
- |
- 4 BATHS
- |
- 4448 SQFT
- 5 BEDS
- |
- 5 BATHS
- |
- 7320 SQFT
- 3 BEDS
- |
- 3 BATHS
- |
- 1991 SQFT
- 4 BEDS
- |
- 6 BATHS
- |
- 1741 SQFT
- 3 BEDS
- |
- 4 BATHS
- |
- 2131 SQFT
- 4 BEDS
- |
- 4 BATHS
- |
- 4522 SQFT
Commenting on the findings, Haider Ali Khan, the CEO of Bayut & dubizzle and the Head of EMPG MENA said:
“It has been well documented over the last year that the real estate market has outperformed expectations, with record-breaking transactions, attractive new launches, and favourable investment opportunities. In 2022, the market also moved towards greater digitisation and transparency.
We at Bayut have always been at the forefront of providing more authentic content to our users and we are working closely with the DLD to make sure we continue to improve the quality of content listed on the platforms as well as provide transactional data on Bayut to make our users more aware of what’s happening in the market. These initiatives should also help strengthen the appeal of Dubai’s market among investors from global markets.
The demand for real estate in the city has continued to rise, as evidenced by the transaction data released by DLD, showing both value and volume have increased by over 50% year-on-year. Traffic and inquiries on Bayut have also increased significantly over the past year, reflecting the trend of higher-than-usual demand in the market.
In my opinion, Dubai has done a fantastic job of managing the growth initiatives in the past few years and we are all reaping the benefits of the hard work put in by the authorities. I see Dubai continuing to consolidate its position as a destination of choice and making expectations from 2023 very exciting.”
With that we wrap up our Dubai rental property market report 2022. If you’re looking for investment opportunities in the property sector, our 2022 Dubai Sales Market Report, brimming with in-depth data and analysis, represents essential reading
The Bayut property market reports for Abu Dhabi, Sharjah and Ajman will be released soon, so keep an eye on MyBayut.
Disclaimer: The average prices in the above Dubai rental property market report (MKTT RPT YE 2022) are based ready properties advertised by real estate agencies on behalf of their clients on Bayut.com (excluding room share), and is not representative of actual real estate transactions conducted in Dubai, unless specified as based on DLD data.
