Rents are rising sharply in this gulf country which has large Malayalee expat population, an increase up to 25 per cent

DUBAI: Rents in the UAE are rising sharply as the situation becomes back to normal after Covid. Rents in Dubai Marina, Jumeirah Breach Residence, Jumeirah Lake Towers and the Palm Jumeirah are expected to rise by as much as 25 percent.

Rents in Deira, Dubai Sports City and Jumeirah Village are also increasing sharply.

Dubai Marina saw 25 per cent increase in rentals in the first quarter as compared to same period last year. But Deira, Dubai Sports City and Jumeirah Village rentals were increased by 11 per cent, 15 per cent and 21 per cent, respectively. Dubai’s population has increased by over 100,000 since 2020, which has led to an increase in rent. Economic and visa reforms are attracting young professionals and high-income individuals to the country. The highest rental rates are for apartments in Palm Jumeirah.