Dubai luxury villa leases rise 27% in five months
The luxury villa rental market in Dubai experienced a significant surge during the first five months of the year, with the value of new contracts exceeding one million dirhams increasing by 27% to reach 509 million dirhams. Renewed contracts also saw a rise of 28%, totaling 114 million dirhams. There is a clear trend toward ultra-luxury segments, particularly in Palm Jumeirah, which recorded the highest number of contracts and transaction volume, amid continued strong demand for upscale properties in the market.
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