Oceana Residences, Palm Jumeirah - Rents Agreed - Market Trends

The Average Rents Agreed and Market Trends at Oceana, Palm Jumeirah.

Author - Gareth Davies - Award-Winning Property Consultant

• The rental growth at Oceana Residences was only 1% for the past 12 months and less than the average of 7% for Palm Jumeirah generally.

• The rental growth at Palm Jumeirah has slowed to more sustainable levels when compared to the growth during 2023.

• The affordability of rent payments creates a “ceiling rent” in any location and is linked to disposable income and wage increases, if any.

Rental Trend at Palm Jumeirah.

Source: Property Monitor

Rent Trend at Oceana Residences

Source: PropertyMonitor.ae

The Average Rental Trends for Palm Jumeirah.

• A large proportion of new tenants are from Europe and they expect accommodation fitted to European standards; contemporary style kitchens with white of other light-coloured kitchen units, matching electrical appliances and light, bright bathrooms.

• The largest rent increases have been for apartments with refurbished / upgraded kitchen and bathrooms, beach access and full, sea views.

Rents Agreed to New Tenants

Source: PropertyMonitor.ae

Source: PropertyMonitor.ae

Source: PropertyMonitor.ae

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