In the third quarter of 2023, more than 6,000 properties were rented out in Dubai, including 4,700 apartments and 1,850 villas. This is down slightly from previous quarters, but the volume remains large.
High demand leads to an increase in rental rates for all types of real estate. With the implementation of large projects in 2024, the population's need for new residential properties will decrease, meaning the cost of real estate and rent will decrease as well.
In the next 3-4 years, more than 130,000 new projects will be implemented in Dubai. This will lead to purchase prices and rental costs stabilising. Many projects are being built in the middle price-range segment, which will give potential buyers and renters more affordable housing options.