Rental Occupancy In Dubai Hits 5-Year Record Highs In Autumn 2022
Rental values in Dubai continue the upward trends and hit new highs, driven by the growing misbalance of supply and demand in the real estate market.
According to experts at Betterhomes, occupancy levels in Dubai are now at a 5-year-high, pushing the rental values even higher. As the number of prospective tenants rises, the only solution for addressing the supply and demand misbalance is delivering more new build homes in Dubai to the rental sector.
As a result, some believe current settings represent a decent investment opportunity.
Rental Market In Dubai In H2 2022
Several Dubai districts prove to be most popular among new and existing renters. Dubai Marina, Business Bay, Downtown Dubai and JLT saw rising rents in September 2022 against this time last year. Moreover, annual rental spikes in Dubai Hills exceeded 30%, suggesting strong tenant interest in the area.
Other real estate hotspots and affordable districts in Dubai saw similar trends of gradually rising rental values. This means that current settings for prospective renters are challenging, especially for expats and international tenants.
Rental Forecasts For Real Estate In Dubai
Some experts anticipate further rental spikes in the coming months as demand remains high. However, there are some positive signs as Betterhomes reveals rising stock levels of villas and apartments in Dubai in September 2022.
If demand continues to outstrip supply, chances for the rental market to cool down are low. As soon as a new stock enters the market, there will be solid grounds for more relaxed settings in the Dubai rental market.
