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 6% for the past 12 months with most of that growth being in the past 3 months, having followed some months of slightly negative growth.
The average rental growth across the Palm Jumeirah communities has slowed during the past 12 months 5.9% and has actually fallen by 3.8% during the past 3 months. .
Since 2022, rents have increased more rapidly than wages. 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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