Rising Demand for Co-living Spaces in Dubai Sparks Rent Increases
CategoriesDubai Real Estate Real Estate News

Are young professionals flocking to co-living spaces in Dubai? It seems so, especially among those in their 20s and early 30s, navigating new roles and experiences in the city.

Market sources reveal a surge in listings for co-living rentals, with lease rates showing signs of stabilization.

Danielle Hall, founder of Co-Living Legends, notes a growing presence of co-living options across Dubai, with over 3,500 rooms listed. While individual offerings abound, companies like Co-Living Legends remain relatively scarce, despite a burgeoning demand.

Industry insiders project an influx of 3,000–5,000 more co-living rooms if demand persists.

Co-Living Costs: Comparable to major cities like Berlin or London, co-living in Dubai offers a regulated alternative to traditional dormitories. This trend diversifies rental choices in Dubai’s expanding real estate market, mirroring the rise seen in short-term rentals several years prior.

Monthly rents for co-living spaces start at Dh4,000, with premium options exceeding Dh6,000. Convenience and lifestyle perks drive demand, eclipsing affordability concerns.

Hamza Abu Zannad of Axiom Prime Development highlights co-living’s appeal to new expatriates, citing potential returns from optimized shared living setups.

Opportunities for Landlords: As rental rates climb, landlords explore avenues for higher yields, including co-leasing arrangements.

Danielle dispels misconceptions, emphasizing single occupancy per bedroom in their units, with amenities like en-suite bathrooms and individual AC controls.

Target Tenants: Professionals in industries like real estate, law, marketing, and entrepreneurship gravitate towards co-living spaces. Corporate clients also seek accommodations for their staff, tapping into the flexibility of short-term leases ranging from six months to a year.

Conclusion: Landlords wield significant influence in this market, with options to cater to various leasing preferences, from long-term rentals to co-living arrangements.

Leave a Reply

Your email address will not be published. Required fields are marked *