KEY TAKEAWAYS

>> Tenants are reluctant to move to a new home due to rising rents >> The average villa rent has increased by 25.7 per cent, while the rent for apartments has risen by 27.5 per cent

>> A decline in the number of new contracts recorded due to increase in rents

>> Palm Jumeirah, Downtown Dubai, Dubai Marina, Al Barari, JBR, Dubai Hills Estate, Jumeirah Bay, and Emirate Hills among the top areas with the highest demand for rental properties in Dubai

>> 2023 is expected to continue the upward trend