Luxury real estate jumps average rent for villas in Dubai 26% 268,758 dirhams annual rent average

The average annual rent for a villa or family home (townhouse) in Dubai was 268,758 dirhams ($73,171) last month after prices jumped 26 percent in the year to September, according to CBRA. Average housing rents in general increased by 27% to 89,986 dirhams. The reason for the rise in rent prices is that an increasing number of foreign workers are moving to the city, according to CBRE’s head of research, Timur Khan.

This also reflects rising prices for luxury properties, which have jumped 89% over the past year, Knight Frank said earlier this week. The average selling price of villas increased by 14%, while apartment prices increased by 9% during September, according to CBRI.
CBRI said that the rents for villas in the luxurious Al Barari neighborhood amounted to 946,270 dirhams annually.