20 Apr 2023 - by Wasil Zaki

Dubai's Current Rental Housing Market UPDATE!

Dubai's Current Rental Housing Market UPDATE!

In Dubai, the market for rental houses is expanding and becoming more accessible than ever. The city is becoming as a desirable alternative for people looking to rent a property due to increased demand and properties becoming more cheap. From lavish villas to reasonably priced apartments, the city is home to a wide variety of rental properties.

Here’s why Airbnb is better than an expensive hotel in Dubai.

In the first two months of 2023, Dubai had the record demand of rental homes. Talking about stats by quoting CNBC’s report, In February alone, Dubai’s residential market saw 8,515 transactions — a whopping 43.9% increase from the previous year. January and February together clocked a total of 17,741 residential transactions. There, the median yearly rent for an apartment was 260,467 dirhams ($70,920) and for a villa, it was 1,017,614 dirhams ($277,079) in February.

Due to the variety of possibilities, both those on a tight budget and those seeking opulent facilities can discover something that works for them. Additionally, a variety of payment options are available, including 12-month, 6-month, and even shorter renting terms. Tenants now have the freedom to shop around for the greatest offer to suit their needs. In addition, a range of benefits, including free Wi-Fi, utilities, and furnishings, are offered to people wishing to rent in Dubai.

Estimately, Dubai’s rental property business will rise again in the last 4 months of the year due to weather and winter holidays. If you’re thinking to rent your property or be a tenant yourself is Dubai, this is the best year for you. Contact Rare Holiday Homes at pa@rarehomes.ae and get our assistance for free.