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The Rental Price of Properties in Dubai

By in Real Estate

The rent-age of properties in Dubai is increasing.

Dubai has one of the highest standards of living in the middle-east. Residents here enjoy a tax-free income and relatively crime-free environment, and when combined with world-class schools and universities, hospitals, malls, theme parks and entertainment districts, anyone would be motivated to move or invest in this emirate. However, living in Dubai means living a fast-paced lifestyle.

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There are no plans for when the construction projects will stop in Dubai, new properties in Dubai both commercial and residential buildings are being completed regularly, offering better choices in terms of leasing office space or renting an apartment in an ideal location.

Types of Properties in Dubai

The most popular rental apartment in Dubai comes in the form of 3-bed flats with 3 baths and around 1,500 sq. ft. of floor space. Amenities include a fully-furnished residential unit with facilities that include a sauna, steam room, swimming pool, first-aid medical centre, gym and Jacuzzi. In the villa’s category, the most in-demand villas come with a floor plan that includes 3-bedrooms, 3 baths, and a total residential floor space of 2,000 sq. ft.

In the townhouse category, the most popular choice is a townhouse that has a floor plan spreading across approx. 2,400 sq. ft., offering 4 bedrooms with 5 baths. For those looking to rent a penthouse, the most in-demand penthouse has a floor plan that includes 4 bedrooms, 5 baths and around 7,000 sq. ft. of overall residential space.

For those looking to set up their own office space in Dubai, they’ll find that the most popular version will come with 213 sq. ft. of overall working space, situated in Business Bay. For those looking to rent a retail shop in Dubai, they’ll come to know that the most popular type will come with 1,100 sq. ft. of showroom space located in Bayswater Tower in Business Bay.

Popular Areas in Dubai

Downtown Dubai in Al Barsha is sandwiched between old and new Dubai. One reason why it’s popular with residents is its location as it is conveniently located close to major business and commercial districts in Dubai.

Al Barsha is well connected with Emirates Road and Sheikh Zayed Road – two of the most popular freeways in Dubai. Its proximity to free zone areas such as Media City and Internet City make it an ideal place to live for those working in these free zones.

Another popular area is Silicon Oasis which is known for its proximity to Dubai International Airport, which is just 20 minutes away. Silicon Oasis is a free zone technology city developed to attract technology companies so that they may set up their businesses here. Along with having a commercial district, Silicon Oasis also has residential districts that include gated communities. It also has some of the lowest rental rates in Dubai, making it an appealing choice for many residents.

Home Sweet Home Real Estate Dubai-Wasl (3)

The community of Jumeirah Lake Tower (JLT) is another popular place to rent because of its ultra-modern buildings. Apart from that, it is surrounded by a man-made lake and it houses some of the most upscale restaurants, bars and clubs in Dubai. Another popular area is Midriff which is known for its affordability. Another popular area is Dubai Marina which has some of the most stunning residential buildings in Dubai and the area is also a popular tourist spot. The community has a reputation for being the most picturesque residential block in Dubai.

The Rental Price Trends for Properties in Dubai

The average price for the most popular 1-bed apartment will be around AED 60k per annum. With 2-beds units, one can expect the yearly rental rate to hover around AED 90k. 3-bed apartment units will demand an average yearly rent of AED 90k. And finally, 4-beds being the largest types of apartments will typically rent for an average yearly lease price of AED 180k.

For those who prefer to live in rental villas in Dubai and would like to find out the average rental prices, a 2-bed villa in Dubai will typically demand a rental rate of AED 95k per annum. 3-bed villas will typically rent for AED 170k while 4-beds on average rent for AED 200k per annum.

The most popular 5-beds and 6-bed villas will demand an average annual rent of AED 850k and AED 725k, respectively. Moving along, in terms of commercial property, the average 180 sq. ft. office will rent out at AED 7k per annum as this version is most popular in Dubai. In respects to the most popular retail-shop, a 1,100 sq. ft. shop seems to be the most preferred option and it typically rents for AED 175k per annum.

Below are the rental prices of some of our properties in Dubai;

Location

Housing type and Area

Estimated Rental Price (AED)

Jumeirah Village Circle 1 Bedroom – 732 Sqft 72,000/Year
Business Bay 3 Bedroom – 1,821 Sqft 145,000/Year
Dubai Sport City 2 Bedroom – 1,211 Sqft 63,000/Year
Arabian Ranches 4 Bedroom – 2,540 Sqft 168,000/Year
Damac Hills 1 Bedroom – 429 Sqft 35,000/Year
Business Bay 1 Bedroom – 6,900 Sqft

75,000/Year

Home Sweet Home Real Estate Dubai- Rental Price

Factors that influence the rental price of a property in Dubai

  • Property type; villa, townhouse or apartment
  • Size; square footage of the property
  • Layout; not all square footage is created equal and floor-plans can often materially impact price
  • Quality; the age of the property as well as the finishings and appliances throughout can affect price
  • Location; prime locations, particularly waterfront communities, will come at a higher price point. Proximity to the city centre as well as transport links can also affect price
  • Views; properties with prime views can often command a higher price
  • Furnished or unfurnished; furnished properties are usually priced at a premium
  • Market conditions of the properties

Conclusion

This is an emirate that is constantly evolving but always for the better. Thus, for people looking to work or set up business here, it can be a little overwhelming in the beginning. One of the major struggles is finding the right type of accommodation or commercial space for your business to grow. It’s no surprise that most people perceive Dubai as one giant construction site.

Location is unquestionably the most important factor to consider when renting a home. Though, equally as essential is understanding costs, as ultimately, your budget will determine where you

New or Already living in Dubai and looking to rent your first home? Seeking to relocate or upgrade? Home Sweet Home Real Estate Dubai offers a plethora of choice to appeal to all lifestyle preferences one can choose to live.

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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