Rental prices surge: Insights from the 2023-2024 Dubai Land Department index and market reports.

According to the latest data released by Dubai Land Department and market reports, rental prices have seen an increase of up to 20% over the past year. Some areas such as Palm Jumeirah, Downtown and Dubai Marina have seen a rise up to 30%, especially in one and two bedroom apartments.

Villas and Townhouses prices have also increased significantly, with communities such as Dubai Hills, Arabian Ranches and The Springs heading the list with an increase of up to 35%. This significant increase is due to the demand for spacious and family friendly-homes.

Despite this rising in the prices, Dubai Land Department continues to regulate the market by setting clear guidelines regarding how much a landlord can increase the rent upon contract renewal. For example, if the tenant is paying a rent that is below the average for the location and property type, the landlord can increase the rent up to 20%.