Lease rates for two beds in Jumeirah Lake Towers rose between 15 and 20 per cent. As per the latest index, rents range between Dh120,000 and Dh150,000 pa.
In December, Dubai government issued Decree No. 43 of 2013 concerning the percentages of maximum property rent increase that are allowed upon the renewal of tenancy contracts.
Although currently the index is still in its old avatar, a more detailed index that will include views of an apartment and facilities offered in a tower, etc, is expected to be released this year.
Apartment rents (Dh per thousand)
Community Studio One-bed Two-bed
Int’l City 30-35 35-45 45-55
Silicon Oasis 35-40 60-60 60-75
Remraam 35-40 45-55 60-75
Dubai Invt Park 25-35 40-50 60-80
Discovery Gardens 40-45 55-65 70-85
Sports City 40-45 55-65 75-85
Business Bay 60-70 80-100 120-140
Downtown 65-75 90-110 160-190
Dubai Marina 55-70 90-120 140-170
JLT 55-75 80-100 120-150
Palm Jumeirah ---- 130-160 180-230
(Rent index udpated in January 2014)
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