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Different Rental Expectations in Dubai

By in Real Estate

Looking to rent your home in Dubai?

Dubai is a place that accommodates everyday individuals and the high net-worth individuals. So, the question is, according to my income and budget, which location is the best place for me to rent a home.

International City, Deira and Discovery Gardens are the most affordable areas for rent, while Palm Jumeirah and Downtown command the highest rentals in the emirate.

 

Home Sweet Home Real Estate Dubai- Rent Expectations 2

 

According to Asteco’s second-quarter report, rents for a studio in International City start from Dh17,500 per annum and go up to Dh65,000 for a three-bedroom unit. Rents in Deira for a studio, on the other hand, start from Dh18,000, while it costs Dh95,000 to rent a three-bedroom apartment.

Rents in Discovery Gardens range between Dh24,000 for a studio to Dh65,000 for a bedroom flat.

Rents in another two affordable areas, Dubai Sports City and Jumeirah Village, start from Dh25,000 for a studio.

5 most affordable areas (AED):

Area Studio 1BHK 2BHK
International City 17.5-25k 25-35k 35-50k
Deira 18-35k 30-52.5k 40-80k
Discovery Gardens 24-35k 32.5-45k 55-65k
Dubai Sports City 25-32.5k 32.5-45k 45-67.5k
Jumeirah Village 25-40k 32.5-60k 50-90k

Home Sweet Home Real Estate Dubai- Rent Expectations 3

5 most luxurious/expensive areas (AED):

Area Studio 1BHK 2BHK
Palm Jumeirah 65-80k 95-160k 120-220k
Downtown 47.5-65k

70-110k

90-180k
DIFC 50-70k 60-110k 90-175k
Dubai Marina 40-60k 45-100k

70-160k

JBR 60-70k 75-100k 97.5-140k

(Source: Asteco, KT Research)

Rents in the affordable segment witnessed a slower increase as compared to mid and high-end areas of Dubai, as the latter witnessed stronger demand.

Rents in the second quarter rose between four per cent to 19 per cent in the second quarter in the affordable category as compared to the same period last year, while tenants paid between 16 per cent to 24 per cent more for the mid to high-end areas.

In the high-end category, Palm Jumeirah commanded the highest apartment rental rate starting from Dh65,000 for a studio and Dh300,000 for a three-bedroom unit.

It is expected that around 22,000 apartments will come online in Dubai this year, including 6,000 delivered in the first quarter and 7,000 in the second quarter of this year.

Conclusion

At Home Sweet Home Real Estate Dubai, We are known not only for meeting, but also, exceeding our customers’ satisfaction and expectations. Our goal is to succeed in enabling our diverse team of highly professionals to hold great service and accountability towards our prized customers which is our motto “Turning dreams into Reality”.  For latest updates and more information, visit our page https://hshestate.com/blog/

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