Brief
Dubai apartment rents tumble over 12% in Q3 as market softens
Savills’ Q3 2026 report shows apartment rents fell 12.8% in Dubai Marina, 12.2% in Business Bay and 10.4% in JVC, amid a sharp slowdown in new property launches.
By Felo News Desk · Published
According to property consultancy Savills, apartment rents in Dubai Marina, Business Bay and Jumeirah Village Circle (JVC) fell 12.8%, 12.2% and 10.4% year‑on‑year respectively during the July‑September 2026 period, marking the steepest declines among Dubai communities.
What happened
The Q3 2026 report shows total rental transactions rose 16% quarter‑on‑quarter to 181,900, while the share of new leases increased to 44% from 36% in Q2. Despite the higher transaction volume, rent levels slipped across the board, with villa and townhouse communities also seeing sharp drops – Arabian Ranches 3 fell 15% and Damac Lagoons slipped 13.4%.
What the reports add
Savills notes that the modest quarterly movements “suggest early signs of stabilisation”, but the trend remains uneven across locations. Among other communities, Al Furjan recorded a 7.5% decline, DIFC 7.3%, Majan 5.1%, Discovery Gardens 4.3% and International City Phase 2 and 3 only 0.4%.
What was said
The consultancy said annual rental pressures remain evident, yet the recent data points to a possible softening of the downward trajectory.
How it came about
Only about 5,000 new units were launched in Q3, taking the nine‑month total to roughly 50,000 – a 64% drop from the 137,300 units launched in the same period a year earlier. Hand‑overs in the first half of 2026 totalled around 26,500, about 85% of which were apartments. In the sales market, residential transactions fell 4% from the previous quarter and 38% year‑on‑year, with transaction value dropping 14% to Dh70.8 billion. The decline was concentrated in off‑plan sales, while ready‑market value rose, indicating stronger momentum for completed properties.
Key facts
- Apartment rents fell 12.8% in Dubai Marina, 12.2% in Business Bay and 10.4% in JVC YoY in Q3 2026. (khaleejtimes.com)
- Total rental transactions rose 16% QoQ to 181,900 in Q3 2026. (khaleejtimes.com)
- Only about 5,000 new units were launched in Q3 2026, a 64% drop from the same period in 2025. (khaleejtimes.com)
- Residential transaction value fell to Dh70.8 billion, down 14% from Q2 2026. (khaleejtimes.com)
- Villa and townhouse rents fell 15% in Arabian Ranches 3 and 13.4% in Damac Lagoons. (khaleejtimes.com)
Sources
- [1] khaleejtimes.com — originally reported as “Rents in Dubai fall over 12%: Dubai Marina, Business Bay and JVC lead”
