Rental costs of luxury properties in Dubai increased

Rental costs of luxury properties in Dubai have increased by up to 70% in H1 2023

According to the property portal's data, Bayut, rentals rose:

• For affordable apartments – by 17%, villas – by 70%
• For luxury apartments – by 32%, villas – by 50%

A developer, Arada, reported a massive increase in sales of $1.2 billion in H1 2023

Compared to H1 2022, it's sales increased by 186%.

Arada sold 1,616 homes. The best in terms of sales was the forest mega-project, Masaar, with 813 homes valued $637 million – it's increased by 200%, compared to H1 2022.

Developer's first project in Dubai, Jouri Hills at Jumeirah Golf Estates, is in demand with 169 luxury villas sold for $351 million.

UAE ranked 7th in the world in gross national income (GNI)

According to the World Bank data.

GNI per capita, in current USD, rose to $48,950 in 2022, compared to $43,460 in 2021.