Post by: Dr. Amrinder Pal Singh
In the first quarter of 2024, rental rates for villas and townhouses in Dubai's Palm Jumeirah neighborhood skyrocketed by 63%, marking the steepest rise compared to the same period last year. According to the Espace Real Estate Q1 2024 Market Report, average rents soared from AED 656,114 in Q1 2023 to approximately AED 1.07 million in Q1 2024, underscoring the enduring desirability and premium status of this iconic locale.
The rental market across Dubai witnessed notable spikes in various communities. Dubai Hills experienced a 36% annual growth, while rates at The Meadows surged by 35%. Jumeirah Islands and Green Community both saw 29% increases, with other communities such as Damac Hills, Mudon, and Jumeirah Golf Estates recording significant rises ranging from 20% to 24%. Even areas like The Springs, Jumeirah Park, Arabian Ranches, and Lakes saw substantial hikes ranging from 15% to 19%.
While some communities experienced more moderate growth, the majority witnessed double-digit increases, reflecting Dubai's sustained appeal as a global hub for commerce, travel, and luxurious living. Landlords capitalized on the persistent demand for premium residential properties by adjusting rental rates upward to align with market trends.
#breakingnews #worldnews #headlines #topstories #globalUpdate #dxbnewsnetwork #dxbnews #dxbdnn #dxbnewsnetworkdnn #DubaiRealEstate #PalmJumeirahRentals #DubaiProperty #RealEstateTrends #RentalMarket #LuxuryLiving #PropertyInvestment #DubaiCommunity #UrbanLiving #RealEstateDubai
Ministers and experts at MCS Summit 2025 in Dubai discussed AI innovation, responsible development, and global talent strategies....Read More.
Winners of the Global Prompt Engineering Championship 2025 awarded AED1M during Dubai AI Week, celebrating AI creativity and talent....Read More.
Chinese Astronauts To Launch For Space Station
China’s Shenzhou-20 mission launches 3 astronauts to its space station. Crew to stay 6 months doing
Arsenal Draws 2-2 With Crystal Palace, Liverpool One Point Away
Arsenal's 2-2 draw with Crystal Palace leaves Liverpool one point away from winning the Premier Leag
Abu Dhabi to host global One Run race on May 24, 2025
Abu Dhabi will hold the One Run on Hudayriyat Island with races for all ages. Runners from 30+ count
UAE launches Barakatna to support senior citizens' care
Barakatna boosts senior wellbeing in Abu Dhabi, with services for home care, housing, and flexible w
ENN LNG Signs Largest UAE-China LNG Deal with Adnoc
China’s ENN LNG signs a 15-year deal with UAE’s Adnoc to buy 1 million tonnes of LNG yearly, sourced