Experts predict a significant increase in the cost of rental housing in Dubai in 2024. Colife Agency analyzed rental prices for the first 10 months of last year. The cost of long-term rentals rose by 27%, while short-term rentals jumped by 30% in November.
Rental prices are rising due to increased demand. An increasing number of foreign professionals are moving to Dubai. They are attracted by competitive salaries, high standard of living, good business conditions and warm climate.
According to forecasts for the new year, the growth in prices for short-term rentals (up to 6 months) will be 20% year-on-year. And prices for long-term rentals will increase by 15% year-on-year.
For example, a one-bedroom apartment in the popular Dubai Marina neighborhood cost $2970 per month. This year, the rental price for a similar property will rise to $3415.
