Rents for villas and apartments in Dubai will continue to rise this year, but at a slower rate.
According to experts, the Dubai rental market experienced a strong recovery last year as the economy improved with a successful vaccination program and the gradual opening of international borders.
Rents for residential and commercial properties in Dubai will continue to rise in 2022 but at a slower pace, according to analysts. However, average rents are still 4.9% lower than they were when the COVID-19 pandemic began. Prices and rents have largely returned to pre-pandemic levels.
As a result of the government's effective policy measures, the rental market in Dubai has experienced a strong recovery. According to Ata Shobeiry, CEO of Dubai-based real estate portal Zoom Property, the return of foreign investors and the handling of the Ebola pandemic are two major reasons.
In response to a question about how Dubai's rental market performed in 2021 compared to 2020 and 2019, Tuaima stated that the VPI registered 70.8 points in the fourth quarter of 2019 compared to 56.6 points in the same quarter last year, representing a 20% decrease.
The rental market in Dubai has experienced a strong recovery as a result of the government's effective policy measures. According to Ata Shobeiry, CEO of Dubai-based real estate portal Zoom Property, the return of foreign investors and the handling of the Ebola pandemic are two major reasons.
2022 Prospects
The outlook for 2022 is cautiously optimistic due to pandemic dynamics and over-supply fears. However, the overnight might reintroduce movement restrictions due to the spread of the Omicron variant of the COVID-19 virus. Some highly desired prime locations are expected to see capital values return to their 2014 highs.
Source: Khaleej Times
