Here’s where Dubai rent prices fell the most in the first quarter of 2019
Jumeirah Lakes Tower and the Jumeirah Village include the largest decrease in rent in the year. A new report by one of the company showed that Dubai’s rent in the first quarter of 2019 continues to decrease. Apartment and villa rent in Dubai decreased by 3 per cent on average compared with the fourth quarter last year,
between January and March 2019.
So where is rent the most dropped?
Cost of annual rented accommodation is down 16% compared with the same period last year at
Jumeirah Lakes Towers and Jumeirah Village while renting a flat in Dubai Sports City and The Greens is down by 14% compared with the first quarter of 2018. In areas such as The Greens, which accounted for 5% rent loss, and Jumeirah Village Circle where rent fell by 6 per-cent over the last 3 months of the previous year, the largest declines were in the last quarter 2018,
compared to the first quarter. Year after year, rates for Dubai apartments decreased by 11 percent on average.
And what about the villa rental?
The Lakes, Mirdif and Jumeirah Village all saw an averaging 14 percent decrease according to the
Asteco report, the biggest difference from any year-on-year villa development. The rent was down 5 percent on average compared with Q4 2018, when Jumeirah Village and
The Meadows witnessed the biggest decline. Year after year, the rates of Dubai villa rental decreased by an average of 9 %.
Do you want to move or renegotiate your rent?
Here are how rates in the main areas of Dubai varied from 2019:
- DIFC: -10%
- Downtown: -10%
- Business Bay: -13%
- Palm Jumeirah: -12%
- Dubai Marina: -8%
- Sheikh Zayed Road: -10%
- The Greens: -14%
- JBR: -12%
- JLT: -16%
- Deira: -10%
- Discover Gardens: -11%
- Dubai Sports City: -14%
- International City: -9%
- Jumeirah Village: -16%