The Official Rental Performance Index, February 2023
In February 2023, Dubai’s rental market recorded a decrease of 20.77 percent compared to January 2023. The rental market in Dubai is known to be seasonal, and most of the renewal contracts have been registered in January with 47,056 leases. In February, 55.39 percent were new contracts while 44.61 percent were renewed. The annual contracts contributed to 90.59 percent of the total contracts, while 9.41 percent were non-annual. On the other hand, the rental contracts for residential purposes contributed to 69.69 percent of the total contracts with 32,791 contracts, while 29.46 percent were registered for commercial purposes.