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Dubai Land Department has launched the first edition of Dubai’s official Residential Rental Performance Index known as RRPI. This is the first-ever residential rental index unveiled by Dubai to measure its performance. The new performance index is launched with the association with Property Finder with the overall 0.938 January 2022 with the index price of Dh51,101.

The prime areas with the maximum rental contracts registration are recorded in January 2022 according to the Ejari Registrations made in Jebel Ali First with 1811 registrations followed by Naif 1760, Al Karama 1754, Al Warsan First 1601, and Al Suq Al Kabeer 1457 are the top areas in 2021.

There are five other areas followed by i.e. Business Bay 1316, Al Nahda Second 1276, Barsha South 1192, Marsa Dubai, and, NaddHessa 1098. These are the total 10 areas whose residential transaction index performance record is showcased in January 2022.

The data of Property Finder residential search data for rental in 2021 showed Dubai Marina was the highest searched area as compared to other areas it went up by more than 11 percent. However, Downtown Dubai, Business Bay, Jumeirah Circle, Jumeirah Lake Towers.

The 18 percent of rental searches for villas and townhouses were dominated in the Jumeirah, Dubai Hills Estate, and the Springs which was followed by the Arabian Ranches, and Umm Suqeim.

The rental contracts in the Dubai market have crossed the benchmark of 51,452 splits between the new and renewed contracts. According to the Property Finder data, the most popular rental contracts were for two-bedroom apartments with 1 bedroom trailing behind, and villa/townhouse rental contracts were for 3 bedrooms with 4 bedrooms coming in second place.

The residential rental index has showcased the opportunity for investors as they can buy or lease the properties and can retain higher profits with Signature Habitat. This is the right time to make a real estate investment in UAE as the market is rising as compared to other countries and with citizenship initiatives or golden visas both buyers and sellers can make a fortune with industry experts Signature Habitat.

The residential demand keeps rising and the residential index has proven the same. The positive response after the pandemic has taken the market upside and showed how much potential is in the real estate market. The first edition has set a benchmark by recovering it positively from the impact of the global pandemic.

Dubai has recorded sales transactions of a total of over AED 151 billion or USD 41 billion in 2021. The data shared by the DLD and property finder shows the market will remain in the upward trends and will continue to grow in the coming years.

There are a handful of factors that are responsible for the demand in the rental sector. The UAE maps out the plan that allowed the economy to recover at a faster rate by launching top-notch international events such as Expo 2020 that attracted visitors across the globe.