DRIVEN

PROPERTYMONITOR
RENTAL MARKET
AED per sq. ft./annum
A
P
A
R
T
M
E
N
T
S
AREA STUDIO 1 BEDROOM 2 BEDROOM
Business Bay 119 97 94
Dubai Marina 128 115 103
Palm Jumeirah – Shoreline 109 104
Discovery Gardens 86 64
JBR 108 116 108
Motor City 83 70 69
The Greens 144 110 100
The Views 150 116 105
• In Q1 2016, we witnessed that apartment rents have declined up to 4%.
• The delivery of new developments has increased the options for tenants as they shift from established locations to
emerging areas such as Dubai Sports City and Dubailand.
• Prices have declined at a faster rate than rents, leading to more attractive gross rental yields in the market.
• As sale prices continue to decline, some homeowners who may have previously been looking to sell have turned to
renting their property instead as they have not been able to achieve their expected sale prices.
• Buyers, however, especially those residing in Dubai for the long-term are starting to consider buying over renting.
AED per sq. ft./annum
AREA 2 BEDROOM 3 BEDROOM 4 BEDROOM 5 BEDROOM
The Springs 74 72 69
V
I
L
L
A
S
The Meadows 62 60 66
The Lakes 74 72 85
Jumeirah Islands 59 60
Jumeirah Park 62 62 59
Al Furjan 51 46
Arabian Ranches 77 69 71 69
Jumeirah Golf Estates 69 60 60
Victory Heights 74 66
• The delivery of additional villas into the market has created a downward pressure on rents.
• As the city border continues to expand inland, developers are designing and delivering villa communities which
are self-sufficient, offering a full scale of facilities and amenities, including retail, food and beverage outlets as well
as schools.
• This shift in design trend, alongside the sale market conditions and additional villa supply, has placed pressure on
established villa communities.
November 2016 Issue 21