Azure Residences - Rents Agreed - Market Trends
Rents Agreed and Market Trends at Azure Residences, Palm Jumeirah
Author Gareth Davies - Award Winning Broker and Property Consultant
Azure Residences - Rental Growth
Rental growth in many communities throughout Dubai has started to slow down as the affordability of people working in Dubai “gets stretched and a rent ceiling has been reached”.
In the graph below, the rental growth (AED/sq.ft) at Azure Residences was only 2.28% during the past 12 months but has increased to 7.46% during the past six months.
Source: PropertyMonitor.ae and Ejari
Rents Agreed at Azure Residences (not renewals)
Source: Property Monitor
The current rental levels for new leases to new tenants range from AED 140,000 to AED 190,000 for a furnished apartment with full Burj Al Arab view. Rents vary widely, depending upon the view and floorplan.
Source: Property Monitor
Only two, new tenancies of 2-bedroom apartment registered at Ejari since January. The rents for 2 bedroom apartments vary depending on whether the apartment is near the Empower building or on the beach side of the Azure building.
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Author Gareth Davies - Award Winning Broker and Property Consultant
