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
During the past year, the rental growth at Oceana Residences has been better than the average for the communities within Palm Jumeirah.
Rental Growth in the past 12 months:
Oceana Residences: 7.53%
Palm Jumeirah: 5.48%
Rental Growth in the past 6 months:
Oceana Residences: 4.67%
Palm Jumeirah: 1.65%
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. However, many landlords are appreciating the difficulty of tenants in affording the higher rents, so in order to assist cash-flow an increase in the number of 4-cheques and even 6-cheques rental payment plans are being agreed.
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 and Renewals with Black Circle.
Source: PropertyMonitor.ae
Source: PropertyMonitor.ae
Source: PropertyMonitor.ae
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