Looking For Affordable Rental Properties In Dubai? Take Your Pick
It is not possible for everyone to buy a place in Dubai. That is where rented apartments come into picture. However, in recent years, the rents have become costlier for tenants, and still cost them a bomb. So, we have compiled a list of 10 places in Dubai where apartment rents are reasonable and include all the major facilities.
In the first quarter of 2018, while villas registered a decline of 10.15 per cent, the apartment rental prices have registered a decline of 7.3 per cent, according to latest REIDIN Index.
Reportedly, the shift has taken place owing to the change in the attitude of landlords who are now willing to accept payments in multiple cheques, along with incentivising the current renters through longer lease terms and competitive pricing.
At Jumeirah Beach Residence (JBR) which is located close to the beach as well as the Dubai Metro, a one-room apartment costs in the range of Dh 95,000 and Dh 116,000 a year. However, renters can find such affordable rental properties in Dubai for Dh 50,000 with similar facilities at International Media Production Zone (IMPZ).
Apartments in non-freehold zones which involve leasing the property for a period of time without actually owning it, have the cheapest rents for tenants. Some of the prominent locations which are home to affordable rental properties in Dubai include Al Quoz with annual rental values at an average of Dh 21,000, Al Awir with Dh 19,000 and Al Qusais with Dh 25,000.
The annual rates for studios in non-freehold zones are as follows:
• Dh 19,000 to Dh 23,000 in Al Awir
• Dh 21,000 to Dh 25,000 in Al Ehibab
• Dh 25,000 to Dh 31,000 in Al Quoz
• Dh 27,000 to Dh 33,000 in Al Qusais
• Dh 28,000 to Dh 34,000 in Al Tawar
• Dh 28,000 to Dh 34,000 in Al Baraha
• Dh 30,000 to Dh 36,000 in Al Muhaisnah
• Dh 30,000 to Dh 40,000 in Satwa
• Dh 30,000 to Dh 40,000 in Al Jaffliya
• Dh 31,000 to Dh 37,000 in Abu Hail
Studios are available in freehold properties where the owner enjoys complete ownership and can use the land for any purpose include selling, transferring or renovating. Studios can be rented in International City for Dh 30,000, Gardens for Dh 34,000 and Dubai Investment Park for Dh 25,000.
According to the RERA Rental Index, cheapest studio places in freehold properties are as follows:
• Dh 25,000 to Dh 35,000 for Dubai Investment Park
• Dh 30,000 to Dh 36,000 for International City
• Dh 34,000 to Dh 42,000 for Gardens
• Dh 35,000 to Dh 43,000 for International Media Production Zone
• Dh 36,000 to Dh 44,000 for International City CBD
• Dh 38,000 to Dh 46,000 for Discovery Gardens
• Dh 38,000 to Dh 46,000 for Dubai Silicon Oasis
• Dh 42,000 to Dh 52,000 for Dubai Sports City
• Dh 42,000 to Dh 52,000 for Green Community DIP
• Dh 43,000 to Dh 53,000 for Jumeirah Village