6 days ago
Dubai rental market bucks summer lull as new families move in ahead of school year
Dubai's property market defied the usual summer slowdown in July, with rental activity jumping as families and professionals moved to the emirate ahead of the new academic year, data from the Dubai Land Department (DLD) showed.
The total value of property sales transactions rose 17 per cent month-on-month to 51.67 billion dirhams ($14.1 billion), while transaction volumes increased 21 per cent from June and 26 per cent compared with the same month last year, according to DLD figures.
Relocations drive Dubai's summer rental boom
The rental market led the surge, with new contracts climbing 12 per cent in July from the previous month. Villas and townhouse rentals rose 8 per cent by volume, while apartment rental activity jumped 37 per cent, fuelled by incoming teachers, hospitality workers and corporate staff preparing for September starts.
'July has been one of our strongest months yet,' said Lewis Allsopp, chairman of real estate agency Allsopp & Allsopp. 'This is prime time for people relocating, starting new jobs, or getting children settled in school.'
The company reported a 26 per cent monthly increase in villa and townhouse rentals, alongside a 33 per cent annual rise in average prices for these properties. Villas and townhouses accounted for 33 per cent of rental transactions by volume but 58 per cent by value, reflecting growing demand for space among relocating families.
Dubai's private school student enrolment has already risen 6 per cent, with five new schools set to open next year, supporting demand for larger family homes.
The traditionally quieter summer months have also seen a 21 per cent rise in new property listings and a 244 per cent jump in viewings at Allsopp & Allsopp, highlighting what agents say is a structural shift in Dubai's real estate cycle.
'The perception that the market slows when people leave for holiday is outdated,' Allsopp said. 'The activity we're seeing underlines Dubai's pull as a place to live and work.'
