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Rental Price Hikes for Dubai Real Estate
- January 3, 2023
- 9:19 am
- Properties for rent in Dubai
Real estate companies in dubai
Do you think Dubai Real Estate reached its peak this 2022? Think again! Dubai’s housing market is facing a supply shortage in 2023, with only 30,000 new homes expected to be delivered. This has caused a ripple effect on the most popular areas to rent in the city, with prime areas like Palm Jumeirah and Emirates Hills expected to see the biggest increase in rent prices.
Luxury villas are expected to see the biggest increase, followed by regular villas, apartments, and studios. Other areas that may experience a rent increase include Dubai Hills Estate, Mohammed Bin Rashid City, Al Habtoor City, Downtown Dubai, and JLT, all of which have seen rent increases in 2022.
However, not all rental prices will be affected equally. While the more affordable areas in Dubai may significantly increase, properties with desirable features like beachfront locations, skyline views, and gated communities will likely see higher demand and potentially higher rent prices.
Despite the potential for high rental prices in 2023, it’s important to remember that the market is constantly changing, and there will always be opportunities for those willing to do their research and make smart decisions.
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