Although rents in Dubai have become more affordable in the past few months, there are still some localities where property rents are actually increasing. Analysing 1-bed apartment rents in various locations of Dubai and comparing them with their standings in July 2016, we found localities where rents increased by as much as 7% percent.
Comparing average rents of 1-bed units in Dubai in August 2016 with the values of July 2016, we noticed that options in Dubailand and Bur Dubai apartment saw rental value increasing by 7%. This was quite a substantial increase in a month especially when we see a general downward adjustment in overall rental average.
Apartments in Discovery Gardens and International City also brought glad tidings for owners, as average 1-bedroom apartment rent in these areas increased by 4% in August 2016 compared with July 2016 values. Both these localities are densely populated by low and mid-salaried residents of Dubai and situated in the city’s suburbs. The increasing rents in Discovery Gardens and International City indicate a commendable shift of demand and tenant interest towards suburban localities of the emirate in search or affordable residential options.
Interestingly it was not just the suburban and densely populated localities that garnered interest from tenants. Newer residential communities such as Jumeirah Lakes Towers (JLT) also experienced a 3% increase in average 1-bed apartment rent in August 2016. Jumeirah Village Triangle (JVT), a residential community located near Dubai Expo 2020 site and one of the beneficiaries of Dubai Metro Red Line Extension, also experienced a 3% rise in apartment rents during the eighth month of the current year.
These were the localities where apartment rents increased the most in August compared with July 2016. Other Dubai Localities where rents of 1-bedroom apartments increased included Al Nahda (2%), IMPZ (2%), Dubai Silicon Oasis (2%) and Downtown Dubai (1%). If you are planning to invest in Dubai to benefit from its high rental returns, these are the locations that deserve your attention.
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