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A 23% Rise in Tenant Demand at Betterhomes
(MENAFNEditorial) Betterhomes Records a 23% Year-on-Year Growth in Tenant Demand, Demonstrating Resilient Rental Market Activity
Dubai witnessed a remarkable 528,476 total rental transactions in 2024, valued at AED 44.23 billion, as highlighted in Betterhomes’ newly released Shaping Skylines FY 2024 Report. This milestone reflects a balanced and maturing market, with both tenants and landlords demonstrating a strong preference for long-term planning. Renewal contracts accounted for 60% of all rental agreements, signalling stability in the market.
Community Performance and Rental Growth
Rental prices in Dubai reached new milestones in 2024, driven by sustained demand for both apartments and villas across premium and emerging communities.
Top Apartment Communities: Dubai South led with a 29.5% YoY growth, followed by Jumeirah Village Triangle (JVT) at 21.1% and Jumeirah Village Circle (JVC) at 19.8%.
Top Villa Communities: Palm Jumeirah recorded a 52.2% growth in rental prices, cementing its status as one of Dubai’s most sought-after locations. JVC and Mohammed Bin Rashid City (MBR City) also saw significant growth, at 38.9% and 15%, respectively.
These trends underline a clear shift towards high-quality properties and increased interest in well-established and developing neighbourhoods.
Betterhomes’ Tenant Leads: A Year of Record Demand
“In 2024, we saw clear signs of stabilisation in Dubai’s rental market. Betterhomes reported a 23% year-on-year increase in tenant leads, showcasing strong demand across all property types. With substantial handovers expected in 2025, we anticipate continued growth in new transactions and further rental price stabilisation,” said Rupert Simmonds, Director of Leasing at Betterhomes.
Betterhomes reported a 23% YoY increase in tenant leads, showcasing robust demand across all property types.
Apartments: Tenant leads grew by 21%, with Dubai Marina, Jumeirah Lakes Towers (JLT), and Downtown Dubai as the top-performing communities.
Villas: Demand surged by 30%, with Arabian Ranches 3, DAMAC Hills 2, and DAMAC Hills leading in popularity due to their spacious layouts and family-friendly environments.
Townhouses: This segment saw a 29% YoY increase in tenant interest, reflecting Dubai’s broader trend toward suburban living.
Dubai witnessed a remarkable 528,476 total rental transactions in 2024, valued at AED 44.23 billion, as highlighted in Betterhomes’ newly released Shaping Skylines FY 2024 Report. This milestone reflects a balanced and maturing market, with both tenants and landlords demonstrating a strong preference for long-term planning. Renewal contracts accounted for 60% of all rental agreements, signalling stability in the market.
Community Performance and Rental Growth
Rental prices in Dubai reached new milestones in 2024, driven by sustained demand for both apartments and villas across premium and emerging communities.
Top Apartment Communities: Dubai South led with a 29.5% YoY growth, followed by Jumeirah Village Triangle (JVT) at 21.1% and Jumeirah Village Circle (JVC) at 19.8%.
Top Villa Communities: Palm Jumeirah recorded a 52.2% growth in rental prices, cementing its status as one of Dubai’s most sought-after locations. JVC and Mohammed Bin Rashid City (MBR City) also saw significant growth, at 38.9% and 15%, respectively.
These trends underline a clear shift towards high-quality properties and increased interest in well-established and developing neighbourhoods.
Betterhomes’ Tenant Leads: A Year of Record Demand
“In 2024, we saw clear signs of stabilisation in Dubai’s rental market. Betterhomes reported a 23% year-on-year increase in tenant leads, showcasing strong demand across all property types. With substantial handovers expected in 2025, we anticipate continued growth in new transactions and further rental price stabilisation,” said Rupert Simmonds, Director of Leasing at Betterhomes.
Betterhomes reported a 23% YoY increase in tenant leads, showcasing robust demand across all property types.
Apartments: Tenant leads grew by 21%, with Dubai Marina, Jumeirah Lakes Towers (JLT), and Downtown Dubai as the top-performing communities.
Villas: Demand surged by 30%, with Arabian Ranches 3, DAMAC Hills 2, and DAMAC Hills leading in popularity due to their spacious layouts and family-friendly environments.
Townhouses: This segment saw a 29% YoY increase in tenant interest, reflecting Dubai’s broader trend toward suburban living.
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