Dubai's $73,000 a year villa rentals come with a warning: Report

It’s not just Dubai’s luxury home sales that are on a tear, rental prices are too.
 

The average annual rent for a villa, or family home, in the emirate reached 268,758 dirhams ($73,171) last month after prices jumped 26% in the year through September, according to real estate adviser CBRE Group Inc. Average apartment rents, meanwhile, soared 27% to 89,986 dirhams.

The surge in rental prices is being driven by a growing number of expatriate workers moving to the city, according to CBRE’s head of research Taimur Khan. It also mirrors soaring luxury real-estate prices, which jumped 89% over the past