We dived into the latest findings from Market Price Live, our up-to-the-minute data centre, to track the rise in rents across Dubai’s key communities in 2013.
Dubai Marina, holding its position as the most-searched neighbourhood at our site since 2012, experienced a 36% increase in rents over the course of 2013.
JLT, a constantly developing community offering a quieter lifestyle despite being located just minutes away from Dubai Marina, saw a modest rise of 6% in its studio rental prices last year.
Downtown, on the other hand, saw over a 100% rise in rents in 2013. With the iconic Burj Khalifa and the world’s largest shopping mall as its centerpiece, the residences at Downtown are a renter’s dream, evident from the area’s ranking amongst Dubai’s most searched locations to rent throughout 2013.
Lease prices of studios in Palm Jumeirah, surprisingly, showed a slight decline of 7%. However, rents of 2 bedroom residences grew by 14% in the serene waterfront community which has consistently appeared in propertyfinder.ae’s top 5.
Dubai Sports City, jumping several notches from 18th position in 2012 to secure 6th spot in Q4 2013, saw a 30% hike in rental prices last year. From state-of-the-art sporting venues and residential and commercial developments together with all the amenities such as international schools, medical facilities, hotels and community centres in a purpose-built city, Dubai Sports City is a current hotspot for investors and renters.
We’ll be posting info on how sale prices in Dubai’s popular neighbourhoods increased last year, so watch this space.
