- Popular Areas for Monthly Rental Apartments
- Popular Areas for Monthly Rental Villas
- Popular Areas for Daily Rental Apartments
With its world-class attractions, state-of-the-art infrastructure and well-appointed accommodations, Dubai stands as a premier hub for tourism and recreation. The emirate’s progressive corporate culture and remote-working policies have further positioned it as a leading destination for working individuals, professional delegates and digital nomads. Moreover, the city welcomed an impressive 16.79 million international tourists between January and November 2024, marking a 9% increase compared to the same period in 2023. As a result, the short-term rental market has seen impressive growth, registering a rental rate increase in the majority of areas.
Such real estate dynamics have created attractive opportunities for investors and driven market momentum. Additionally, many landlords transitioned from long-term to short-term rentals in favour of higher returns. Similarly, the availability of an eclectic selection of short-term rental options on dubizzle’s listings has also contributed to diversifying the market’s reach.
A comprehensive yearly search trend analysis by dubizzle has highlighted the immense potential of Dubai’s short-term rental market. The sector has garnered strong investor interest, fueling upward rental trends in key areas. While some neighbourhoods have witnessed an uptick in rental rates, others have proven to be more tenant’s friendly, registering a decrease in rent. Consequently, the overall trends have painted a picture of balanced and dynamic market behaviour that favours every stakeholder.
Here are the key highlights of the 2024 Dubai short-term rental property market trends.
- In 2024, International City, Bur Dubai and Deira have emerged as the top affordable areas for monthly rental apartments in Dubai with Deira recording a surge of 43.44% in the average rent. This massive increase can largely be attributed to the growing popularity of the Hor Al Anz community, recording an unprecedented increase in the average monthly rent.
- JVC, Business Bay and Al Barsha have topped the mid-range segment, with Al Barsha recording the highest rent increase of 5.1% for monthly rental apartments.
- Dubai Marina, Downtown Dubai and Jumeirah Beach Residence remained on top of the list of luxury monthly rental apartments in Dubai, with Dubai Marina observing an uptick of 3.72% in the asking rent.
- For daily apartment rentals, areas such as Bur Dubai, Business Bay and Dubai Marina have occupied the top ranks in affordable, mid-range and luxury segments, respectively.
- Meanwhile, International City has recorded the highest increase in average daily rent for apartments, rising by 21.76%.
- Short-term villa renters have favoured DAMAC Hills 2 in the affordable segment, while Palm Jumeirah, DAMAC Hills and Dubai Hills Estate have ranked among the top luxury neighbourhoods for monthly villa rentals.
- Garnering significant interest in monthly villa rentals, the luxury neighbourhood of Dubai Hills Estate has experienced a notable 13.11% increase in rental rates.
Let’s take a detailed look at how each of the top-performing areas for short-term rentals in Dubai has fared in 2024.
Most Popular Areas for Luxury, Mid-Tier and Affordable Monthly Rental Apartments in Dubai
The short-term rental market has witnessed a rise in both demand and supply, as evident from trends observed in 2024. This market boom is driven by increased investor confidence and growing interest in short-term rentals. Government involvement and regulatory initiatives, such as holiday home permits by the DET and similar operational services, have promoted transparency and streamlined processes.
The monthly and daily short-term rental supply grew to meet rising demand. According to the tourism performance report by DET (January to November 2024), the total number of available rooms reached 153,390, reflecting a 2% increase compared to 2023 for the same period.
Moving on, we’ll round up the most popular areas for luxury, mid-tier and affordable monthly rental apartments in Dubai for 2024. The average asking rent of the respective properties will also be detailed, according to the listings and search trends on dubizzle.
Top Neighbourhoods for Luxury Monthly Rentals
There has been a mix of rent increases and decreases in top areas offering luxury monthly rental apartments. This variation is due to differing market dynamics, with some areas experiencing increased supply while others face higher demand. The downtrend in rents can also be attributed to the growing options for holiday homes in high-end urban districts including Downtown Dubai and Dubai Marina. Despite these fluctuations, the demand for luxury short-term apartment rentals in Dubai has remained strong.
Let’s find out more about how monthly rental market trends have fared in Dubai’s popular luxury neighbourhoods.
Dubai Marina
Dubai Marina has retained its position as a top neighbourhood among tenants interested in monthly luxury apartment rentals in the emirate. The influx of holiday homes and hotel apartments in the vibrant waterfront district has further fueled its popularity. With rising demand, the average asking rent for monthly rental apartments in Dubai Marina has been AED 13.45k after an increase of 3.72%.
- According to the dubizzle Dubai short-term rental property market trends, 1-bed apartments in Dubai Marina have seen an increase in average asking rent, amounting to AED 11.52k.
- After a slight 2.20% decrease, the asking monthly rent for 2-bed apartments has averaged AED 17,384.
- Similarly, the average asking rent of 3-bedroom apartments in Dubai Marina has also witnessed a nominal drop and has been recorded at AED 25.49k in 2024.
Downtown Dubai
Many iconic landmarks call Dubai Downtown home. The skyscraper district is another popular area among luxury apartment tenants in Dubai. It also hosts many popular buildings to rent apartments near Burj Khalifa. As per the yearly search trends, a drop of 7.07% has been observed, following which the monthly short-term rent has settled at AED 17.69k.
- In 2024, the rent for 1-bed apartment rentals in Downtown Dubai stood at AED 13.29k per month, showing a decrease of 3.91%.
- Compared to last year, the average rent for 2-bed apartments has also dropped to AED 20.31k monthly.
- Following a similar trend, the average monthly rent of a 3-bed apartment has seen a substantial drop of 15.27%, coming down to AED 37.23k.
Jumeirah Beach Residence (JBR)
As the name implies, Jumeirah Beach Residence is revered for its pristine waterfront experiences. The JBR skyline is dotted with high-rises and luxurious hotel developments. As a result, the area has garnered significant interest from those seeking luxury apartments as short-term rentals.
According to market trends observed by dubizzle in 2024, the average monthly rent for apartments in JBR has been AED 17,555, after a drop of 6.72% due to an increased supply of short-term rental options. Moreover, the increasing number of units has placed JBR among the popular neighbourhoods for short-term rentals in Dubai.
- A 1-bedroom apartment for rent in JBR has been available for AED 13.5k, following a significant drop of 10.83%.
- The average monthly rent for 2-bedroom flats has decreased by 6.65%, settling at AED 19.15k.
- On the contrary, 3-bedroom apartments in JBR have seen an increase, with the average asking rent rising to AED 28k in 2024, up from AED 26.38k in 2023.
Top Neighbourhoods for Mid-Tier Monthly Rentals
As the region’s leading cosmopolitan hub, Dubai offers top-notch attractions and in-demand urban conveniences. The emergence and rapid growth of the mid-tier property segment has been the city’s yet another phenomenal achievement. Tourists, working professionals and other individuals seeking temporary accommodation in the city have capitalised on the value-for-money short-term rentals in 2024. This has contributed to the market’s popularity and growth.
The shifting dynamics have been reflected in search trends recorded on dubizzle. Let’s explore the details of the most popular mid-range neighbourhood for short-term rental apartments in Dubai.
Jumeirah Village Circle (JVC)
Jumeirah Village Circle (JVC) is known for its high and mid-rise residential buildings offering top amenities and facilities. There is an abundance of value-for-money accommodations, which make it a popular area for renting mid-range apartments.
Furthermore, the completion of several new projects has further contributed to the neighbourhood’s rising popularity. Following an increase of 3.5%, the average monthly rent for apartments in JVC has risen to AED 7,216.
- The average monthly rent for studio apartments has been AED 5,622, registering a slight increase in 2024.
- The average rent for a 1-bedroom apartment has also increased from AED 7,628 to AED 8,189 per month.
- Similar is the case of a 2-bed apartment, the average rent of which has been AED 11.27k, after witnessing a 7.77% uptick.
Business Bay
Recognised as one of Dubai’s lifestyle-driven communities with world-class amenities, Business Bay has lured droves of monthly short-term tenants. As a result, it has emerged as one of the top neighbourhoods in the mid-term segment with monthly apartment rentals.
According to rental trends observed in 2024, the average monthly rent of apartments in Business Bay has been AED 11,755, after recording a negligible dip.
- The average rent of studio flats has been observed at AED 8,828 monthly after an increase of 3.29%.
- A 1-bed monthly rental in Business Bay has also witnessed a slight increase in asking rent, averaging AED 11.32k in 2024.
- Similarly, the monthly rent for a 2-bed apartment in Business Bay has averaged AED 16.5k, after a minute increase.
Al Barsha
A mixed-use community brimming with modern conveniences and leisure lifestyle spots, Al Barsha has emerged as a preferred choice for tenants seeking value-for-money monthly rentals in Dubai. Its strategic location in west Dubai, coupled with excellent connectivity to the Dubai Metro and proximity to the iconic Mall of the Emirates, enhances its appeal among both expatriates and locals. The neighbourhood’s popularity continues to drive demand, reflected in a 5.1% rise in the average monthly rent. As of 2024, the average rent for apartments in Al Barsha has reached AED 8,616 per month.
- Studio apartments in Al Barsha have been available for an average monthly rent of AED 5,317, reflecting a 5.71% decrease.
- Similarly, the monthly rent for 1-bedroom apartments has slightly declined, averaging AED 7,593.
- In contrast, the average rent for 2-bedroom apartments has risen by 2.11%, reaching AED 12.1k per month.
Jumeirah Lake Towers (JLT) has occupied the fourth spot on the list. The waterfront community is home to a myriad of residential buildings and hotels. The average asking rent for daily rental apartments in JLT has increased by 3.66%, reaching AED 9,893. Another emerging suburban area, Al Jaddaf has also ranked among the top areas for monthly short-term apartment rentals. Due to its growing popularity and demand, the average monthly rent for apartments jumped from AED 9,064 in 2023 to AED 9,390 in 2024 with a 3.60% increase.
Top Neighbourhoods for Affordable Monthly Rentals
Besides location, reasonable rent is another factor driving the popularity of an area for short-term rental. Dubai’s diverse landscape is home to many such neighbourhoods, offering a blend of attractive rental rates and commuting convenience.
Let’s detail the popular neighbourhoods and their rental trends for monthly rental apartments in Dubai.
International City
A masterfully planned mixed-use community, International City remains the top choice for affordable short-term rental apartments. Due to its high popularity, monthly rental rates in the area have increased by 5.88%.
Its strategic location significantly contributes to its appeal, as it is also among the top areas to rent flats near Global Village. The average monthly rent in International City has risen to AED 3,241 in 2024, up from AED 3,061 in 2023.
- Studio flats in International City have seen a modest increase of 7.66%, bringing the average monthly rent to AED 2,953.
- Similarly, 1-bedroom short-term rentals have experienced a 10.21% rise, with average rents reaching AED 4,254 per month.
- Meanwhile, 2-bedroom apartments have recorded a significant 19.06% increase, pushing the average monthly rent to AED 6,766.
Bur Dubai
Showcasing the nostalgic charm of Dubai, Bur Dubai is one of the city’s oldest neighbourhoods. It is known for its vibrant souks and a host of historic attractions. Dubai Museum and Saeed Al Maktoum House are among some key landmarks in the area. Moreover, it is also one of the neighbourhoods in Dubai for food lovers with plenty of culinary choices.
According to trends observed on dubizzle, the monthly asking rent for apartments in Bur Dubai has witnessed a 6.52% increase, averaging AED 6,486. This price increase hints at the growing popularity of the neighbourhood among monthly short-term rental apartment seekers.
- Monthly studio rentals in Bur Dubai have seen a 3.69% increase, with the average rent reaching AED 4,108.
- In 2024, the average asking rent for 1-bedroom short-term rentals has risen by 19.89% compared to 2023, averaging AED 7,753 per month.
- Likewise, 2-bedroom short-term rentals have recorded a modest increase of 2.20%, with the average rent climbing to AED 12,923.
Deira
Deira has emerged as a prominent destination for short-term rental apartment seekers. With its rich history, this well-established neighbourhood boasts a lively waterfront market, numerous traditional shopping outlets and an array of culinary delights.
As one of Dubai’s tourism hotspots, Deira has experienced a significant surge in demand for short-term rentals. The growing availability of furnished apartments in the area has further contributed to this upward trend. The Hor Al Anz community in Deira has witnessed a staggering 90% increase in rental prices, increasing from 4.4k to 8.5k AED per month. As a result, the average monthly rent for apartments in Deira has risen to AED 7.5k, up from AED 5.2k in 2023—a remarkable increase of 43.44%.
- In 2024, the average monthly rent for studio apartments in Deira has been AED 5,586, reflecting a significant increase of 38.37% compared to 2023.
- The average rent for 1-bedroom short-term rentals has also risen to AED 7,539.
- Additionally, the average rent for 2-bedroom apartments has seen a notable increase of 42.35%, reaching AED 11.2k.
Following Deira, Dubai Sports City and Barsha Heights offer affordable monthly short-term rental apartments. According to dubizzle market trends analysis, the asking rent for monthly short-term rental apartments in Dubai Sports City has averaged AED 6.15k, with a slight increase from 2023. Conversely, the average asking rent in Barsha Heights has decreased by 8.74%, bringing the average rent down to AED 7.7k in 2024.
Most Popular Areas for Luxury and Affordable Monthly Rental Villas in Dubai
Tenants have preferred Palm Jumeirah, DAMAC Hills and Dubai Hills Estate. The average rent of monthly villa rentals in Palm Jumeirah has been AED 156.3k, registering an increase of 9.91%. Similarly, after a 5.63% increase, DAMAC Hills has offered villas with an average monthly rent of AED 32.8k. Following the upward trend, the average monthly rent for luxury villas in Dubai Hills Estate has risen by 13.11%, reaching AED 52.4k.
On the other hand, tenants looking for affordable monthly short-term rental villas in Dubai have gravitated towards DAMAC Hills 2 due to the reasonable rent. With a rise in demand, the average monthly rent for villas in the neighbourhood has jumped to AED 14.3k from 13.7k, reflecting a 4.24% increase.
Most Popular Areas for Luxury, Mid-Tier and Affordable Daily Rental Apartments in Dubai
As one of the world-leading tourism destinations, Dubai attracts a large influx of overnight tourists. As these numbers continue to increase year after year, the supply for daily rentals, including the fully furnished ones, has also seen a remarkable increase.
To capitalise on the short-term market’s lucrative scope, more landlords have registered and converted their properties to holiday homes in Dubai. Transitioning a regular unit into a holiday home in Dubai is based on a streamlined process. As a result, the average daily rent for apartments in most areas has decreased, resulting in more renter-friendly market trends.
Let’s take a detailed look at the top areas for daily apartment rentals in Dubai in the affordable, mid-range and luxury segments.
Top Luxury Neighbourhoods for Daily Apartment Rentals
Tenants seeking a high-end experience go for apartments with must-have luxury amenities. Dubai has several neighbourhoods offering vibrant urban experiences. However, those with a convenient location and world-class attractions are usually preferred by Dubai visitors looking for a luxurious experience during their short stay.
According to market trends observed by dubizzle, the average daily rent has witnessed an overall drop for apartments in the sought-after luxury areas. The increase in supply of luxury holiday homes in the emirate can be attributed to the downward trend.
Let’s explore more about the most searched luxury neighbourhoods for daily apartment rentals in Dubai.
Dubai Marina
A host of new projects with hotel apartments and serviced residences have graced the area of Dubai Marina. As a result, the luxury neighbourhood has retained its position as the most sought-after area for daily apartment rentals. The average rent for a luxury apartment in Dubai Marina has been AED 605 per day.
Jumeirah Beach Residence (JBR)
Home to an array of waterfront properties, JBR has been another preferred choice for those seeking daily rental apartments with high-end experiences. The neighbourhood has offered luxury apartment rents for AED 738 per day.
Downtown Dubai
Downtown Dubai is a hub of high-end establishments known for vacation rentals and holiday homes. The upscale neighbourhood has garnered significant attention from tenants looking for luxury daily apartment rentals in the emirate. The average daily rent for apartments in Downtown Dubai has been recorded at AED 983.
Top Neighbourhoods for Mid-Tier Daily Rentals
Neighbourhoods offering mid-range short-term rentals have garnered significant attention. The growing demand has driven daily rents up by as much as 19.22%.
Let’s now take a closer look at the sought-after mid-tier neighbourhoods for daily apartment rentals.
Business Bay
Daily rental flats in Business Bay have remained a popular choice in 2024. The average daily rent for apartments in the neighbourhood has stood at AED 539 after a drop of 4.43%.
Al Barsha
Al Barsha has followed the popularity of Business Bay in terms of daily rental apartments in Dubai. Tenants have paid an average of AED 373 per day for renting apartments in the area, which is slightly less than the previous year.
Jumeirah Village Circle (JVC)
With a reasonable average daily rent of AED 394, JVC has piqued the interest of individuals looking for short stays in Dubai. As a result, it has positioned itself among the most coveted neighbourhoods for daily rental apartments in the emirate.
With an average daily rent of AED 499, Sheikh Zayed Road has also remained popular for mid-range apartment rentals. It is followed by Jumeirah Lake Towers (JLT), where the average daily rent of apartments has witnessed a whopping 19.22% increase, reaching AED 521. The price increase is driven by a host of factors, such as an increasing supply of furnished residences with readily available facilities.
Top Neighbourhoods for Affordable Daily Rentals
Bur Dubai
Bur Dubai has been the most preferred choice for those seeking affordable daily apartment rentals in Dubai. The average daily rent for apartments in the neighbourhood has been recorded at AED 293, with a slight dip of 2.93%.
Deira
The average rent for apartments in Deira has been down to AED 231 per day in 2024 from AED 285 per day in 2023.
Dubai Silicon Oasis (DSO)
A hub brimming with business, lifestyle and accommodation options, DSO is widely acclaimed for a host of factors. Offering properties with reasonable rents, it is also among the popular neighbourhoods for students in Dubai. Alongside the affordability factor, the neighbourhood also enjoys a strategic location seamlessly connected to the rest of Dubai.
All these aspects make it among the most in-demand areas for daily rental apartments in the emirate. According to dubizzle findings in 2024, the daily rent for apartments in DSO has been AED 277.
International City and Dubai Residence Complex have also made the list of top affordable areas for daily apartment rentals. The average daily rent in International City has been AED 247 with a notable hike of 21.67%. On the other hand, the daily rent in Dubai Residence Complex has witnessed a slight decrease and has been recorded at AED 308.
Commenting on the latest market trends, the CEO of Bayut & dubizzle and Head of Dubizzle Group MENA, Haider Ali Khan, said:
“Dubai’s real estate market has truly outdone itself, hitting new heights in 2024, with over AED 500 billion in 2024. It’s clear that this dramatic growth is driven by the government’s proactive initiatives including the revised property visa offerings and expansion of freehold areas. Considering the robust economic progress of Dubai and the announcement of major infrastructure projects like the Dubai Metro Blue Line and Al Maktoum Airport, this momentum is unlikely to slow down any time soon.
The demand for properties is at an all-time high with the off-plan sector in particular showing unprecedented interest. As the UAE’s leading real estate platform, at dubizzle, we remain committed to supporting this growth by offering comprehensive listings of off-plan developments including ‘Verified Properties’ across all segments—affordable, mid-tier and luxury. At dubizzle, we’re proud to fuel this growth while empowering everyone to make informed decisions.”
This concludes the Dubai Short-term Rental Market Report 2024 by dubizzle. The report provides an in-depth analysis of market trends and a comprehensive overview tailored for landlords and short-term rental seekers.
To sum it all up, Dubai has remained a thriving tourism hub, attracting a growing influx of overnight visitors and driving demand for short-term rentals. However, the increase in the supply of short-term rental properties and holiday homes has partially balanced the rising demand. This has led to a downward trend in average monthly and daily rents in several popular areas. The annual Dubai short-term rental report 2024 has reflected the dynamism of the emirate as a tourism hub.
Stay connected to the UAE’s leading real estate blog for more comprehensive analyses of demand and supply dynamics and progressive trends in the UAE real estate market, similar to the Dubai annual short-term rental report 2024.
Disclaimer: The market trend analysis in the Dubai Short-Term Rental Report 2024 is according to dubizzle’s trends. It is not the actual representation of the transactions that took place in the emirate during the year.
