Dubai's High-Value Rental Market Exceeds AED 6.8 Billion in Eight Months

Dubai's luxury rental market has demonstrated significant activity, with 2,046 residential rental contracts valued at AED 1 million ($272,235) or higher registered between January 1 and August 31, 2026. A report by fäm Properties reveals that the total value of these high-end agreements reached AED 6.8 billion ($1.8 billion) during this period.

The market analysis indicates that the median annualised rent for these premium contracts was AED 1.35 million. New leases comprised the majority of transactions, accounting for 1,423 contracts, or 69.6% of the total, while 623 renewals made up the remaining 30.4%. Data from DXBinteract further shows that new leases had a median annualised rent of AED 1.30 million, whereas renewals registered a higher median of AED 1.50 million.

One-year agreements were the dominant contract type, making up 1,353 of the 2,046 high-value leases. Longer-term contracts typically featured lower annualised median rents, as the AED 1 million threshold applies to the total contract value rather than the yearly amount.

Villas emerged as the leading property type in this segment, with 951 contracts valued at AED 2.49 billion, and a median annualised rent of approximately AED 1.12 million. Apartments followed with 531 contracts worth AED 2.41 billion, commanding a median annualised rent of AED 1.40 million. The Dubai Land Department's residential-use classification also includes categories like labour camps, which accounted for 520 contracts worth AED 1.72 billion, with a median annualised rent of AED 1.84 million. Other smaller categories included buildings, complex villas, staff accommodation, studios, and penthouses.

Palm Jumeirah maintained its status as a prime location for high-value conventional residential leasing, recording 191 contracts with a median annualised rent of AED 1.50 million, underscoring its appeal in the luxury rental sector.