Page 37 - SALIK PR REPORT FEBRUARY 2024

Rents take the biggest bite out of residents' salary, and according to
experts rents in Dubai will continue to rise in 2024. This year, prime
residential areas will witness up to 20 per cent rental hike after a year of
remarkable upswing estimated to be in the range of 23-30 per cent.
Property experts predict the trend is due to multiple reasons, including
increased investor appetite, rising influx of professionals, population surge,
and the city’s growing appeal as a haven for the wealthy.
The commonly preferred areas for apartments are Dubai Marina, Jumeirah
Village Circle, Business Bay, Downtown Dubai, and Jumeirah Lake Towers.
For villas, Dubai Hills, Al Barsha, Jumeirah, and Damac Hills are the most
popular areas. Based on the demand and popularity, it is expected that
these areas will command higher rental growth in the coming years.
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Abu Dhabi’s real estate sector is advancing through a phase of strategic
expansion and maturity and is poised to experience steady growth in 2024
with residential capital values expected to rise between 3% and 5%,
according to ValuStrat.
Residential rents in the UAE capital are anticipated to experience modest
increments in both villa and apartment sub-markets during 2024.

2. Remittance fees

https://www.khaleejtimes.com/uae/uae-6-things-that-will-cost-residents-more-in-2024