Cheapest places to rent in Dubai today
Rents for some Dubai flats drop by as much as 19%
Flats in Dubai Marina, Downtown Dubai, JLT, Dubai Sports City, Business Bay registered rental declines of 2.6% to 19% in August
Published: 18:59 October 7, 2015
Dubai: Although the cost of renting properties in some parts of Dubai has gone up, there are still bargains to be found in today’s rental market.
According to the data compiled by a property portal, a number of apartments in Dubai Marina, Downtown Dubai, Jumeirah Lakes Towers, Dubai Sports City and Business Bay registered rental declines of between 2.6 per cent and 19 per cent in August 2015, when compared to the same period last year.
This doesn’t mean rental figures across all types of apartments in these communities have declined.
Smaller properties, such as studio and one-bedroom apartments can command higher rates in sought-after communities, but can offer some bargains in secondary locations.
So, for house hunters to save money on rent, the key is to do their own homework. Here’s a quick look at how much rents have risen or fallen in some of Dubai’s popular communities, according to property portal Bayut.com.
The following data is based on hundreds of property listings on the company’s website.
What’s cheaper: Tenants looking to move to Dubai Marina can expect to pay less if they are looking for a one-bedroom or two-bedroom apartment, which registered rental declines of 13.9 per cent and 0.2 per cent, respectively.
What’s pricier: If you have a tight budget, stay away from studio, three bedroom and four-bedroom flats, which registered wallet-busting increases of 28.9 per cent, 24.4 per cent and 8.2 per cent, respectively.
What’s cheaper: Almost all property types in this premium location have shown rental declines of up to 10.3 per cent, so you have more chances of scoring a good deal. As of August 2015, rents for Downtown studio apartments dropped by 2.6 per cent, compared to the same month last year, while one-bedroom, two-bedroom and four-bedroom flats declined by 10 per cent, 9.2 per cent and 10.3 per cent, respectively.
What’s pricier: Four-bedroom flats have gone up by 10.3 per cent, on average.
Jumeirah Lakes Towers
What’s cheaper: Rents for studio, one-bedroom, two-bedroom and three-bedroom flats have dropped by 12 per cent, 10.3 per cent, 9.3 per cent and 6 per cent, respectively.
What’s pricier: Rents for four-bedroom flats have risen by 2.3 per cent.
Dubai Sports City
What’s cheaper: One-bedroom flats now generally cost 15.5 per cent less compared to about a year ago.
What’s pricier: Studio apartments have increased by 11.3 per cent, as well as two-bedroom and three-bedroom properties, which went up by 7.8 per cent and 25.5 per cent, respectively.
What’s cheaper: Tenants looking to stay close to Shaikh Zayed road are likely to find some bargains, with rents for studio, one-bedroom, two-bedroom and four-bedroom flats dropping by 12.7 per cent, 19 per cent, 17.2 per cent and 5.5 per cent, respectively.
What’s pricier: The cost of renting four-bedroom apartments has risen by 5.5 per cent.