Different Rental Expectations in Dubai

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.

 

 

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

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

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