Rental prices in Dubai are expected to continue rising in 2023, particularly in high-demand, prime areas where supply is limited, while more affordable areas may see moderate increases.
Rents in the city have been on a downward trend since 2014, but have started to recover due to the return of foreign workers and an influx of high-net-worth individuals to the market following the COVID-19 pandemic.
Luxury villas in prime locations such as Emirates Hills and Palm Jumeirah are expected to see the biggest rental increases due to demand from wealthy migrants from Russia and Ukraine. Beachfront properties and gated communities are also likely to be more in demand, leading to rising rents.
Despite the increases, rents are still lower than their 2014 peak levels, with some mid-market districts remaining below peak values. Affordable areas in the city include Bur Dubai, Deira, and freehold districts such as International City, Liwan, Dubai Silicon Oasis, Discovery Gardens, and Dubai Sports City.