Dubai rental prices have continued to decrease in the first six months of 2019, according to Property Finder Trends Vol. 6. However, there has been a significant change in the rate of decline.
To illustrate this change, we’ve taken Dubai’s 10 most in-demand rental communities and looked at the drop in median annual rental price (AED) in H1 of this year (Jan – Jun 2019) versus the drop in the previous six month period (Jul – Dec 2018).
So which communities registered the most significant changes?
Dubai Marina remains the most searched-for community for renters and also shows one of the highest differences between the two time periods. From July to December 2018, the median rental price dropped -10.2% while in the six months leading up to Jun 2019, the price drop was only -4.7%.
In contrast, Downtown Dubai is one of the more steady communities in the top 10, registering the smallest changes — decreasing -2.8% in the first six months of 2019 versus -3.7% in the last six months of 2018.
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Prices drops in JLT and Al Barsha are also amongst the highest in the first six months of 2019: -4.9% in Al Barsha and -4.1% in JLT. These price decreases are in sharp contrast to the drop in the last six months of 2018 (-12.6% in Al Barsha and -12.8% in JLT).
The decline in rental prices in Dubai Sports City is also worth noting: -3.4% in the first six months of 2019 versus -9.1% in the last six months . This movement reveals rental prices are steadying in this popular and highly affordable community (median annual rent: AED 52,465) even as demand stays high.
Median Annual Rental Prices in Dubai’s Top 10 Most Searched Communities: Jan – Jun 2019 vs Jul – Dec ’18
Median Annual Rental Price (AED)
Jan – Jun’19 % change
Jul-Dec ’18 % change
|Jumeirah Lakes Towers||77,955||-4.1%||-12.8%|
|Jumeirah Village Circle||57,326||-4.3%||-6.8%|
|Dubai Sports City||52,465||-3.4%||-9.1%|
|Jumeirah Beach Residence||138,205||-3.5%||-4.6%|
|Dubai Silicon Oasis||54,120||-1.8%||-3.8%|
Data source: Property Finder Trends Vol. 6 — the most searched community rankings are based on the percentage of total searches on Property Finder in H1 2019.
Pricewise, Dubai Silicon Oasis and Jumeirah Village Circle are amongst the most affordable communities in Dubai with annual median rental prices of AED 54,000 in Dubai Silicon Oasis and AED 57,326 in Jumeirah Village Circle.
Al Barsha (AED 73,378), JLT (AED 77,955), and Business Bay (AED 85,657) are in the mid-range category, while The Palm Jumeirah (AED 152,860), JBR (AED 138,205), Downtown Dubai (AED 130,249), and Dubai Marina (AED 108,462) remain in the upper range.
Properties for Rent in Dubai Marina