Surge in Rent Increases in Dubai’s Affordable Locations
Dubai’s affordable residential areas are experiencing significant rent hikes, with a surge of up to 20% on renewals.
The impact of the updated RERA Rental Index is particularly noticeable in areas such as Jumeirah Village Circle (JVC), Al Furjan, and Motor City.
While upscale locations in Dubai have faced double-digit rent increases over the past three years, this trend is now extending to mid-market areas. Rent renewals, in particular, are seeing substantial hikes.
Dubai Mid-Market Rent Increases:
- Affected Areas: Jumeirah Village Circle, Al Furjan, Arjan, Motor City, Dubai Sports City
- Increase: Up to 20% on lease renewals
- Cause: Revised RERA Rental Index
The rising rents in these mid-market neighborhoods are impacting residents and reshaping the rental landscape in Dubai. Renters in these areas are now dealing with the same kind of rent pressures that have long been felt in the city’s upscale locations