The average price of a rented apartment for the year reached AED 91,795 (€ 23,000), while the cost of villas jumped to AED 274,740 (€ 71,390). Due to rising prices, tenants are reluctant to move into new housing: the number of new contracts is reduced, and the number of renewals is increasing. Palm Jumeirah continues to be the most sought after area for rent. Referring to third-quarter data, Zoom Property Insights reports that the average rent for apartments here has increased by 22%, and for villas by 32%.
Demand for housing is growing due to the strong economic activity of the emirate
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