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 9.24% during the past 12 months. Although some landlords may be disappointed that the rental growth is not higher, but to reassure them, but Azure Residences is performing better than most of the other communities at Palm Jumeirah this year.
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
