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.
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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.