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 0.50% during the past 12 months. Azure Residences has performed below the average for all communities at Palm Jumeirah this year. 

Rents Agreed at Azure Residences (Renewals with Black Circle)

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

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Author Gareth Davies - Award Winning Broker and Property Consultant