Changes in prices for rent and service of the residential real estate

Rent prices for Dubai residential property will rise in 2022 according to the forecast of the ValuStrat consulting agency.

The expected rent prices for apartments will increase by 5% - 7%, for villas – by 7% - 10%. According to forecasts, TOP popular areas for rent will include: Apartments Dubai Creek Emaar Beachfront Port De La Mer Villas Amalfi Tilal Al Ghaf Compared to 2020, in 2021 rent prices increased: For apartments – by 14.3% For villas – by 26.8% Average annual rent as of Q4 2021: For apartments – $16,000 For villas – $64,400

Reduced service charges for residential property was announced by private developers and Real Estate Regulatory Agency

This decision is associated with a 10% - 15% cuts on facility management (FM) costs. Reductions have been observed in areas such as:

• Dubailand
• Dubai Marina
• JLT
• JVC, etc.

For example, at the moment, the service charges (per sqm) are: Dubai Marina – $41 - $82 JVC – $38 - $64 JLT – $38 - $50 Sources: Zawya, Gulf News