Bayut & dubizzle’s Dubai rental market report for H1 2022
With the first half of the year wrapped up, we bring you the Bayut & dubizzle rental market report Dubai for H1 2022. Join us as we look at how the asking prices for apartment and villa rentals have fared in the emirate’s most-searched-for residential districts.
To identify rental trends and consumer preferences for this real estate rental market report H1 2022, our data experts have compared the average asking rents recorded on Bayut & dubizzle during H1 2022 (excluding room share) to the Dubai rent trends observed during H2 2021.
As per our H1 Dubai property market 2022 for rent, tenants on a budget have shown a greater inclination towards family-friendly communities in the suburbs, such as Mirdif, DAMAC Hills 2 (Akoya Oxygen), Jumeirah Village Circle (JVC) and Al Nahda. For luxury rentals, tenants have been keener on the established neighbourhoods of Downtown Dubai, Dubai Marina, Jumeirah and Al Barsha.
Based on the rent trends in the Dubai real estate market observed on Bayut & dubizzle, property prices in the emirate have displayed an upward trajectory in the affordable and luxury segments. Given the growing demand for rental accommodation in the emirate, housing costs have increased by up to 29% in the affordable segment, whereas luxury rentals have become more expensive by up to 43% in some areas.
This marked increase in asking rent for properties in Dubai can be linked to the growing numbers of expats looking at settling in the emirate, following the introduction of flexible residency visa schemes. With travel restrictions eased across the world and the emirate’s effective policies to ensure an excellent standard of living for its residents, the new wave of foreigners eager to call Dubai their long-term home does not come as a surprise.
Bayut & dubizzle’s combined report compares the asking rents from H1 2022 to H2 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.
Let’s now take a look at the Bayut and dubizzle 2022 H1 rental market report for Dubai, to gain greater insights into the price movements observed across popular residential districts for apartment and villa rentals.
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 H1 2022 MARKET REPORT
POPULAR AREAS | STUDIO Avg. Yearly RentChange from H2 2021 | 1-BED Avg. Yearly RentChange from H2 2021 | 2-BED Avg. Yearly RentChange from H2 2021 |
|---|---|---|---|
| Jumeirah Village Circle (JVC) | STUDIO Avg. Yearly RentChange from H2 2021
| 1-BED Avg. Yearly RentChange from H2 2021
| 2-BED Avg. Yearly RentChange from H2 2021
|
| Al Nahda | STUDIO Avg. Yearly RentChange from H2 2021
| 1-BED Avg. Yearly RentChange from H2 2021
| 2-BED Avg. Yearly RentChange from H2 2021
|
| Bur Dubai | STUDIO Avg. Yearly RentChange from H2 2021
| 1-BED Avg. Yearly RentChange from H2 2021
| 2-BED Avg. Yearly RentChange from H2 2021
|
| Deira | STUDIO Avg. Yearly RentChange from H2 2021
| 1-BED Avg. Yearly RentChange from H2 2021
| 2-BED Avg. Yearly RentChange from H2 2021
|
| Business Bay | STUDIO Avg. Yearly RentChange from H2 2021
| 1-BED Avg. Yearly RentChange from H2 2021
| 2-BED Avg. Yearly RentChange from H2 2021
|
Based on the data collected for the Bayut & dubizzle rental market report Dubai H1 2022, Jumeirah Village Circle (JVC) has remained the most sought-after community for tenants in search of affordable apartments for rent in Dubai. The average asking rent for apartments in JVC has increased across the board during H1 2022 by up to 16%. Tenants interested in JVC rental flats can expect to pay an average annual rent of AED 34k for studio flats, AED 48k for 1-bed and AED 70k for 2-bed flats.
Al Nahda is another popular choice for budget-friendly rental apartments in Dubai. Prices here have recorded increases of up to 11.54%, with the highest upticks in asking rents for studios. The average annual price for studio flats for rent in Al Nahda has stood at AED 24k during H1 2022. The asking rents for 1-bedroom flats in Al Nahda have increased by 5.32%, averaging at AED 32k, whereas the average rent for 2-bed flats has remained steady at AED 43k during H1 2022.
Other than JVC and Al Nahda, renters have shown interest in the central, well-established districts of Deira and Bur Dubai. Based on the rental trends in Dubai for H1 2022, the asking rents in these neighbourhoods have recorded upticks of up to 7.63% for certain units.
Tenants have also focused on the rental properties in Business Bay, where prices recorded significant increases of up to 20.74%. The data for Bayut and dubizzle’s rental market report Dubai H1 2022 has shown that most of this price hike can largely be attributed to an increase in the listings for high-priced properties in Al Habtoor City, Bayz by Danube and Millennium Binghatti Residence, amongst other projects.
DUBAI MARINA REMAINS THE TOP CHOICE FOR LUXURY APARTMENT RENTALS
RENTAL PRICES IN DUBAI FOR LUXURY APARTMENTS – BAYUT & DUBIZZLE’S H1 2022 PROPERTY MARKET REPORT FOR DUBAI
POPULAR AREAS | 1-BED Avg. Yearly RentChange from H2 2021 | 2-BED Avg. Yearly RentChange from H2 2021 | 3-BED Avg. Yearly RentChange from H2 2021 |
|---|---|---|---|
| Dubai Marina | 1-BED Avg. Yearly RentChange from H2 2021
| 2-BED Avg. Yearly RentChange from H2 2021
| 3-BED Avg. Yearly RentChange from H2 2021
|
| Downtown Dubai | 1-BED Avg. Yearly RentChange from H2 2021
| 2-BED Avg. Yearly RentChange from H2 2021
| 3-BED Avg. Yearly RentChange from H2 2021
|
| Palm Jumeirah | 1-BED Avg. Yearly RentChange from H2 2021
| 2-BED Avg. Yearly RentChange from H2 2021
| 3-BED Avg. Yearly RentChange from H2 2021
|
| Dubai Hills Estate | 1-BED Avg. Yearly RentChange from H2 2021
| 2-BED Avg. Yearly RentChange from H2 2021
| 3-BED Avg. Yearly RentChange from H2 2021
|
| Jumeirah Beach Residence (JBR) | 1-BED Avg. Yearly RentChange from H2 2021
| 2-BED Avg. Yearly RentChange from H2 2021
| 3-BED Avg. Yearly RentChange from H2 2021
|
The Bayut & dubizzle Dubai real estate market report for H1 2022 reveals that Dubai Marina has remained a firm favourite among tenants interested in luxury apartment rentals in Dubai. Rental apartments in Dubai Marina have recorded price increases between 16% and 22%, with the highest uptick being observed in the price of 1-bed units, which averaged at AED 88k during H1 2022. The rental prices for 2 and 3-bed units have averaged at AED 133k and AED 195k, during the first half of the year.
Tenants looking for luxury apartments have also shown an inclination toward rental properties in Downtown Dubai. Prices here have recorded upticks across the board. Asking rents for 1-bed flats in the area averaged at AED 105k per annum, whereas 3-bed units have been priced at AED 321k. The most significant increase has been observed in the rental values of 2-bed units, where prices increased by 43.42% to average at AED 222k. This increase can be attributed to an increased number of Elite Downtown Residence and Armani Residence properties being listed for rent.
The data collected for Bayut and dubizzle’s rental market report Dubai H1 2022 has also revealed considerable tenant interest in the upscale rental apartments in Palm Jumeirah, Dubai Hills Estate and Jumeirah Beach Residence.
Prices for rental flats in these areas have recorded a general uptick, with prices of certain units increasing by a little over 33%. The most significant rental hike has been reported for properties in Palm Jumeirah and 3-bed units in Dubai Hills Estate, as a result of landlords listing properties with higher price tags to capitalise on the growing demand in upscale areas.
- 3 BEDS
- |
- 4 BATHS
- |
- 1715 SQFT
- 2 BEDS
- |
- 3 BATHS
- |
- 988 SQFT
- 1 BED
- |
- 1 BATH
- |
- 486 SQFT
- 1 BED
- |
- 1 BATH
- |
- 853 SQFT
- 1 BED
- |
- 2 BATHS
- |
- 1118 SQFT
- 1 BED
- |
- 2 BATHS
- |
- 693 SQFT
- 1 BED
- |
- 1 BATH
- |
- 488 SQFT
- 1 BED
- |
- 2 BATHS
- |
- 739 SQFT
MIRDIF IS THE MOST SOUGHT-AFTER AREA FOR RENTING AFFORDABLE VILLAS IN DUBAI
POPULAR AREAS TO RENT VILLAS IN DUBAI –BAYUT & DUBIZZLE’S H1 2022 DUBAI REAL ESTATE MARKET REPORT
POPULAR AREAS | 3-BED Avg. Yearly RentChange from H2 2021 | 4-BED Avg. Yearly RentChange from H2 2021 | 5-BED Avg. Yearly RentChange from H2 2021 |
|---|---|---|---|
| Mirdif | 3-BED Avg. Yearly RentChange from H2 2021
| 4-BED Avg. Yearly RentChange from H2 2021
| 5-BED Avg. Yearly RentChange from H2 2021
|
| DAMAC Hills 2 (Akoya by DAMAC) | 3-BED Avg. Yearly RentChange from H2 2021
| 4-BED Avg. Yearly RentChange from H2 2021
| 5-BED Avg. Yearly RentChange from H2 2021
|
| Jumeirah Village Circle (JVC) | 3-BED Avg. Yearly RentChange from H2 2021
| 4-BED Avg. Yearly RentChange from H2 2021
| 5-BED Avg. Yearly RentChange from H2 2021
|
| Dubailand | 3-BED Avg. Yearly RentChange from H2 2021
| 4-BED Avg. Yearly RentChange from H2 2021
| 5-BED Avg. Yearly RentChange from H2 2021
|
| The Springs | 3-BED Avg. Yearly RentChange from H2 2021
| 4-BED Avg. Yearly RentChange from H2 2021
| 5-BED Avg. Yearly RentChange from H2 2021
|
| Not available due to low/no historical inventory or influx of off-plan properties | |||
According to the combined data collected for the Bayut & dubizzle Dubai real estate rental market report H1 2022, Mirdif has unsurprisingly remained a firm favourite among tenants interested in cheap villa rentals. Our analysis of the rental prices in Dubai shows that asking rents for houses in Mirdif have increased by 5% to 7% during H1 2022. The 3-bed rental villas in Mirdif have reported an average price of AED 91k. The cost of 4-bedroom villas for rent in Mirdif has stood at an average of AED 115k per annum, while the 5-bed houses in Mirdif are priced at AED 124k per annum.
Our data reveals that DAMAC Hills 2 (Akoya Oxygen) has also been an attractive option for tenants looking at areas to rent reasonable villas in Dubai during H1 2022. The average rental cost of 3-bedroom villas for rent in DAMAC Hills 2 remained unchanged at AED 58k. The 4-bed villas in DAMAC Hills 2 have seen a moderate decrease of 4.49% in rental costs, which averaged at AED 78k. Following an uptick of 1.16%, the average rent for 5-bed houses in DAMAC Hills stood at AED 96k.
The Dubai rental trends in H1 2022 reveal that tenants interested in budget villas have also shown a preference for suburbs like Jumeirah Village Circle, Dubailand and The Springs. These affordable locales have seen prices increase by up to 28.83% for most bed types, with the exception of 3 and 4-bed units in Dubailand and 5-bed villas in JVC. These properties have become more affordable and have witnessed drops between 2% to 12%.
AL BARSHA IS THE MOST POPULAR AREA FOR LUXURY VILLA RENTALS IN DUBAI
POPULAR COMMUNITIES TO RENT LUXURY HOUSES IN DUBAI – BAYUT & DUBIZZLE’S H1 2022 DUBAI PROPERTY MARKET REPORT
POPULAR AREAS | 4-BED Avg. Yearly RentChange from H2 2021 | 5-BED Avg. Yearly RentChange from H2 2021 | 6-BED Avg. Yearly RentChange from H2 2021 |
|---|---|---|---|
| Al Barsha | 4-BED Avg. Yearly RentChange from H2 2021
| 5-BED Avg. Yearly RentChange from H2 2021
| 6-BED Avg. Yearly RentChange from H2 2021
|
| Jumeirah | 4-BED Avg. Yearly RentChange from H2 2021
| 5-BED Avg. Yearly RentChange from H2 2021
| 6-BED Avg. Yearly RentChange from H2 2021
|
| Dubai Hills Estate | 4-BED Avg. Yearly RentChange from H2 2021
| 5-BED Avg. Yearly RentChange from H2 2021
| 6-BED Avg. Yearly RentChange from H2 2021
|
| Umm Suqeim | 4-BED Avg. Yearly RentChange from H2 2021
| 5-BED Avg. Yearly RentChange from H2 2021
| 6-BED Avg. Yearly RentChange from H2 2021
|
| Arabian Ranches | 4-BED Avg. Yearly RentChange from H2 2021
| 5-BED Avg. Yearly RentChange from H2 2021
| 6-BED Avg. Yearly RentChange from H2 2021
|
Bayut & dubizzle’s combined 2022 H1 rental market report for Dubai has revealed that Al Barsha topped the charts in popularity when it comes to renting luxury villas in the emirate. The 4-bed and 5-bed rental villas in Al Barsha have experienced an increase in rental costs by 14% to 15%, averaging at AED 203k and AED 290k, respectively. The rental costs for 6-bed villas in the area average at 383k, following a 3.26% decline from the prices in H2 2021.
Jumeirah has also remained a favourite among renters looking for luxury villas in Dubai. The average annual cost of villas for rent in Jumeirah have experienced increases of 15% to 17% during H1 2022. The asking rents for villas in Jumeirah average at AED 278k for 4-bed, AED 309k for 5-bed and AED 453k for 6-bed units.
Besides Al Barsha and Jumeirah, the luxury villas in Dubai Hills Estate, Umm Suqeim and Arabian Ranches have also appealed to tenants. The rental costs for villas in these areas have recorded increases of between 4% and 30%, with the highest price hike observed for 4-bed units in Umm Suqeim, where landlords are listing their properties at higher price points.
Commenting on the findings, Haider Ali Khan, the CEO of Bayut & dubizzle and the Head of EMPG MENA said:
“Over the first half of this year, many pivotal changes have been taking place both within the region and globally. With the focus on safety and security being understandably high, Dubai has stood out as an appealing option particularly for international investors and expat owners. Within Bayut & dubizzle, we have had over 35M sessions in the last six months alone from property seekers interested in Dubai real estate.
With more attention coming to the market, the need to become transparent and more technologically advanced is also clear. Earlier this year DLD made all transaction data publicly available and in the past few weeks there have been some strategic decisions around moving away from cheques to offer direct debit payments; both positive moves in line with the evolving needs of the growing population of Dubai.
With innovation in mind, we too have launched our next generation property search experience, Search 2.0 on Bayut to allow people to have a more well rounded and thorough browsing experience that factors in their two most important commute points. Owing to these advancements from both the public and private sector, the interest in Dubai real estate is more likely to continue to remain high in the coming months too.”
That brings us to the end of our Dubai real estate rental market report H1 2022. For more insights into the emirate’s real estate investment trends, take a look at the Bayut & dubizzle H1 2022 Dubai property sales market report. The report features a comprehensive breakdown of popular neighbourhoods to buy luxury and affordable properties in the emirate, along with a lowdown of the respective projected ROIs and price trends recorded during the first half of the year.
The Bayut & dubizzle’s property market reports for Abu Dhabi, Sharjah and Ajman will also be available 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 is not representative of actual real estate transactions conducted in Dubai.
