Dubai’s property market experienced record-breaking rental price growth in 2024, with top villa communities such as Palm Jumeirah witnessing the highest increase of over 52%, according to an industry report by Betterhomes.
This was followed by Jumeirah Village Circle (JVC), which saw an increase of nearly 39%, and MBR City, which recorded a rise of over 15%.
Similarly, top apartment communities saw significant rental hikes, with Dubai South reporting a 29.5% increase, JVT over 21.1%, and JVC close to 20%.
The Dubai market recorded a total of 528,476 rental transactions in 2024, valued at AED 44.23 billion. Of these, 60% were renewals, reflecting market stability.
“This achievement highlights a balanced and mature market, where both tenants and landlords are increasingly focusing on long-term planning,” Betterhomes noted.
The company also reported a 23% year-on-year rise in tenant demand, showcasing a robust rental market performance.
“In 2024, clear signs of stabilisation emerged in Dubai’s rental market, with strong demand observed across all property types,” the report added.
“With significant property handovers anticipated in 2025, we expect sustained growth in new transactions and further stabilisation of rental prices,” said Rupert Simmonds, Director of Leasing at Betterhomes.
