Bayut & dubizzle’s Dubai rental market report for Q1 2022

• Affordable Apartment Rentals
• Luxury Apartment Rentals
• Affordable Villa Rentals
• Luxury Villa Rentals

As we step into the second quarter of 2022, the Bayut & dubizzle Dubai Q1 rental property market report 2022 is here to help you analyse the average asking prices for villas and apartments across the emirate in some of the most-searched for localities.

To identify consumer preferences and rental trends for the Dubai Q1 rental property market report 2022, our data experts have compared the average asking rents observed on Bayut & dubizzle during Q1 2022 (excluding room share) with the rent trends identified during Q4 2021.

Looking at the Dubai property market for rent, it is evident that tenants in search of affordable accommodation have focused their attention on the family-friendly suburbs of Jumeirah Village Circle (JVC), Al Nahda, Mirdif and DAMAC Hills 2 (Akoya Oxygen). On the luxury end, tenants have focused their search efforts on the evergreen neighbourhoods of Jumeirah, Al Barsha, Dubai Marina and Downtown Dubai.

According to the search trends observed on Bayut & dubizzle, the Dubai rental market has experienced an upward trend in Q1 2022, backed by increasing demand for real estate in the city. The rental prices have generally increased in both the affordable and luxury segments of the Dubai property market. Tenants can now expect to pay up to 12% more rent on budget apartments and villas, whereas the rental costs for luxury housing prices have gone up by almost 24%, in certain areas. 

The general uptrend in asking rent for properties in Dubai can be attributed to the increased demand from a new wave of expats in the emirate following Expo 2020 and the introduction of more flexible residence visa schemes. That coupled with the emirate’s efficient policies and strong bounce back from the COVID-19 pandemic has added to Dubai’s popularity as a long-term home.

Bayut & dubizzle’s combined report compares the asking rents from Q1 2022 to Q4 2021, to provide the average rental prices in Dubai for apartments and villas. We have further 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.

Next up in the Q1 Dubai property market report 2022, we take an in-depth look at the fluctuations in rental prices for apartments and villas recorded across popular residential districts of the emirate. 

JUMEIRAH VILLAGE CIRCLE IS THE MOST SOUGHT-AFTER AREA TO RENT AFFORDABLE PROPERTY IN DUBAI

RENTAL PRICES IN DUBAI FOR AFFORDABLE APARTMENTS IN POPULAR AREAS – BAYUT & DUBIZZLE’S Q1 2022 MARKET REPORT

As per the data collected at Bayut & dubizzle for Dubai Q1 rental real estate market report 2022, Jumeirah Village Circle (JVC) has continued to be the most searched choice for tenants looking at affordable flats for rent in Dubai. The average rental cost for all apartment configurations in JVC has increased during Q1 2022. Tenants looking at rental apartments in JVC can expect to pay an average of AED 33k for studios, AED 48k for 1-bed and AED 69k for 2-bed units.

Al Nahda, another popular choice for renters in search of budget-friendly apartments in Dubai, has experienced minor fluctuations in asking rents during Q1 2022. The rental costs for 1-bed apartments in Al Nahda have experienced a moderate uptick of 3.12%, averaging at AED 32k, while the average rent for 2-bed units has decreased by 0.18% to stand at AED 42k. The prices for studio flats for rent in Al Nahda have remained steady at AED 22k during Q1 2022.

Other than Al Nahda and JVC, tenants have shown interest in the well-established, central neighbourhoods of Bur Dubai and Deira. According to the rental trends in Dubai observed during Q1 2022, the average asking rents in these residential districts have increased by up to 7% for certain units.

Tenants have also shown an inclination towards properties in Business Bay, where prices rose significantly by up to 12%. This hike in rental costs was mainly due to a general price shift in the area, paired with the handover of properties in the new Art XVIII Tower.

DUBAI MARINA HOLDS THE TOP POSITION FOR LUXURY APARTMENT RENTALS

RENTAL PRICES IN DUBAI FOR LUXURY APARTMENTS – BAYUT & DUBIZZLE’S Q1 2022 PROPERTY MARKET REPORT FOR DUBAI

As per Bayut & dubizzle’s Dubai real estate market report for Q1 2022, Dubai Marina has unsurprisingly emerged as the most searched area by tenants looking at luxury apartment rentals in Dubai. The asking prices for rental apartments in Dubai Marina have increased by nearly 14% for 1 and 2-bed units, averaging at AED 88k and AED 132k in Q1 2022. The 3-bed rental flats have become slightly more affordable with rental costs dropping from AED 190k in Q4 2021 to AED 188k in Q1 2022.

Downtown Dubai has been the second most popular area for tenants interested in high-end rental flats in Dubai. Rental costs for 1 and 3-bed units in Downtown Dubai have seen moderate increases of under 9%, to average at AED 104k and AED 316k, respectively in Q1 2022. The rents for 2-bed apartments in Downtown Dubai have significantly increased by 23.7%, averaging at AED 225k per annum. This increase can be attributed to the handover of properties in Opera Grand, as well as an increase in high-end 2BHK listings from projects like BLVD Heights, Bahwan Tower, Burj Al Nujoom and Downtown Views.

The combined data collected for Bayut and dubizzle’s Dubai Q1 rental property market report 2022 has also revealed that tenants in search of upscale apartment rentals have focused their interest on properties in Palm Jumeirah, Dubai Hills Estate and The Lagoons.

Prices for upscale rental flats in these areas have experienced a general increase, with rental costs of certain units rising by almost 23%. The most significant rent increases have been reported for 1-bed units in Palm Jumeirah and The Lagoons, and 3-bed units in Dubai Hills Estate, as a result of landlords capitalising on increased demand in these upscale areas.

Apartments for Rent in Dubai

View all

AED 155,000 Yearly

• 2 BEDS
• |
• 2 BATHS
• |
• 957 SQFT

Park Heights 1, Park Heights, Dubai Hills Estate, Dubai, UAE

AED 140,000 Yearly

• 2 BEDS
• |
• 3 BATHS
• |
• 1558 SQFT

Chaimaa Avenue Residences, JVC District 13, Jumeirah Village Circle (JVC), Dubai, UAE

AED 210,000 Yearly

• 2 BEDS
• |
• 3 BATHS
• |
• 1703 SQFT

Al Bateen Towers, The Walk, Jumeirah Beach Residence (JBR), Dubai, UAE

AED 77,000 Yearly

• 1 BED
• |
• 2 BATHS
• |
• 859 SQFT

Belselah Residence, Al Barsha 1, Al Barsha, Dubai, UAE

AED 78,000 Yearly

• 1 BED
• |
• 2 BATHS
• |
• 903 SQFT

Belselah Residence, Al Barsha 1, Al Barsha, Dubai, UAE

AED 67,000 Yearly

• 1 BED
• |
• 2 BATHS
• |
• 769 SQFT

RMT Residence, JVC District 11, Jumeirah Village Circle (JVC), Dubai, UAE

AED 75,000 Yearly

• 1 BED
• |
• 2 BATHS
• |
• 931 SQFT

Plaza Residences Block A, Plaza Residences, JVC District 13, Jumeirah Village Circle (JVC), Dubai, UAE

AED 87,999 Yearly

• 2 BEDS
• |
• 2 BATHS
• |
• 1726 SQFT

AAAF 2 Building, Al Mankhool, Bur Dubai, Dubai, UAE

AED 48,999 Yearly

• STUDIO
• |
• 1 BATH
• |
• 561 SQFT

Sandoval Garden Block B, Sandoval Garden, JVC District 14, Jumeirah Village Circle (JVC), Dubai, UAE

AED 68,000 Yearly

• 1 BED
• |
• 2 BATHS
• |
• 832 SQFT

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

MIRDIF IS THE MOST POPULAR FOR RENTING AFFORDABLE VILLAS IN DUBAI

POPULAR AREAS TO RENT VILLAS IN DUBAI –BAYUT & DUBIZZLE’S Q1 2022 DUBAI REAL ESTATE MARKET REPORT

Based on the data collected for the Bayut & dubizzle Dubai Q1 rental property market report 2022, Mirdif has remained a top favourite among tenants looking for cheap villa rentals in Dubai. An analysis of rental prices in Dubai reveals that rental costs for houses in Mirdif have increased by 3% to 10%. During Q1 2022, the 3-bedroom villas for rent in Mirdif have been priced at AED 89k. For 4-bedroom villas for rent in Mirdif tenants can expect to pay an annual average rent of AED 112k. Tenants interested in 5-bed houses in Mirdif would be looking at an average budget of AED 129k per annum.

DAMAC Hills 2 (Akoya Oxygen) has also remained a popular choice among areas to rent reasonable villas in Dubai in Q1 2022. The rental costs for 3 and 4-bed villas in DAMAC Hills 2 decreased by 1.53% and 2.98%, respectively. For the 3-bedroom villas for rent in DAMAC Hills 2, tenants can expect to pay AED 57k on average, while the 4-bed homes in the area were priced at AED 80k during Q1 2022. The average rental cost for 5-bed houses in DAMAC Hills has experienced an uptick of 2.20%, averaging at AED 100k.

Based on Dubai rental trends observed in Q1 2022, tenants on a stricter budget have also shown an inclination towards the properties in affordable suburbs like Jumeirah Village Circle, The Springs and Dubailand. All three areas have experienced an increase of 2% to 9% in asking rents. The 5-bed villas in JVC, however, have become more affordable, with prices declining by 21.9% owing to an increase in lower priced listings in the area.

JUMEIRAH STAYS THE TOP FAVOURITE FOR LUXURY VILLAS FOR RENT IN DUBAI

POPULAR COMMUNITIES TO RENT LUXURY HOUSES IN DUBAI – BAYUT & DUBIZZLE’S Q1 2022 DUBAI PROPERTY MARKET REPORT

Bayut & dubizzle’s combined Dubai Q1 rental real estate market report 2022 has revealed that Jumeirah continues to be a firm favourite among tenants looking for expensive villas. The villas for rent in Jumeirah have experienced price increases of 2% to 14% across the board. The highest uptick has been recorded for 4-bed villas that now average at AED 236k as a result of landlords listing properties at a higher value. The asking rents for 5 and 6-bed houses in Jumeirah have averaged at AED 294k and AED 461k, respectively. 

Al Barsha ranked second in popularity for luxury villa rentals in Dubai during Q1 2022. The rental costs for 4 and 5-bed homes in Al Barsha have increased by 5% and 6.9% to average at AED 197k and AED 268k, respectively. Tenants interested in renting villas in Al Barsha in 6-bed layouts can expect to pay AED 407k on average.

Dubai Hills Estate, Umm Suqeim and Arabian Ranches have also attracted tenant interest for upscale rental villas in Dubai. The 4-bed villas in Dubai Hills Estate have become less expensive by 9.1%, with asking rents averaging at AED 221k, while the rent for 5-bed units increased by 12.6% to average at AED 273k in Q1 2022.

The 5 and 6-bed units in Umm Suqeim have seen rental costs decreasing by 2% to 12%, whereas the 4-bed houses have become more expensive by 6.8%. Asking rents in Arabian Ranches increased across the board from 1% to 9%.

Villas for Rent in Dubai

View all

AED 260,000 Yearly

• 4 BEDS
• |
• 5 BATHS
• |
• 2425 SQFT

Dreamz by Danube, Al Furjan West, Al Furjan, Dubai, UAE

AED 420,000 Yearly

• 5 BEDS
• |
• 6 BATHS
• |
• 4793 SQFT

Lila, Arabian Ranches 2, Dubai, UAE

AED 200,000 Yearly

• 4 BEDS
• |
• 6 BATHS
• |
• 1398 SQFT

Mulberry Park, JVC District 15, Jumeirah Village Circle (JVC), Dubai, UAE

AED 720,000 Yearly

• 4 BEDS
• |
• 5 BATHS
• |
• 11038 SQFT

Entertainment Foyer, European Cluster, Jumeirah Islands, Dubai, UAE

AED 510,000 Yearly

• 4 BEDS
• |
• 6 BATHS
• |
• 4648 SQFT

Harmony 2, Harmony, Tilal Al Ghaf, Dubai, UAE

AED 235,000 Yearly

• 3 BEDS
• |
• 3 BATHS
• |
• 2435 SQFT

Alma 1, Alma, Arabian Ranches, Dubai, UAE

AED 460,000 Yearly

• 4 BEDS
• |
• 5 BATHS
• |
• 8189 SQFT

District 4, Jumeirah Park, Dubai, UAE

AED 450,000 Yearly

• 5 BEDS
• |
• 5 BATHS
• |
• 8664 SQFT

Esmeralda, Victory Heights, Dubai Sports City, Dubai, UAE

AED 200,000 Yearly

• 4 BEDS
• |
• 6 BATHS
• |
• 1679 SQFT

Lilac Park, JVC District 12, Jumeirah Village Circle (JVC), Dubai, UAE

AED 260,000 Yearly

• 3 BEDS
• |
• 4 BATHS
• |
• 1792 SQFT

Murooj Al Furjan West, Al Furjan West, Al Furjan, Dubai, UAE

Commenting on the findings, Haider Ali Khan, the CEO of Bayut & dubizzle and the Head of EMPG MENA said: 

“It has been a good start for the property market this year with demand continuing to rise for both luxury and affordable areas. Over the past three months alone, we have had over 18 million sessions on Bayut and dubizzle from property seekers, so there’s clearly an appetite for real estate in the city.

The booming oil prices and strategic moves on the part of the government including the recent DEWA IPO have also increased confidence in the market both locally and internationally. This is clearly evident from the high ticket transactions over the last quarter, which includes the most expensive sale to date for the Palm Jumeirah villa which transacted at a record high of AED 280M. Property seekers are also leveraging PropTech solutions like our recent collaboration with DLD to understand transaction history and make strategic real estate choices. ” 

That wraps up our Dubai Q1 rental property market report 2022. For more insights into the emirate’s real estate market, you can check out the Bayut & dubizzle Q1 2022 Dubai property sales market report. This detailed report features a lowdown of the popular areas to buy affordable and luxury homes in the emirate, along with a breakdown of the price trends and projected ROIs observed in those areas. 

The Bayut & dubizzle’s property market reports for Abu Dhabi, Sharjah and Ajman will also be out soon, so stay tuned to MyBayut.

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