Where to find a 2-bedroom unit for Dh30,000 annual rent in UAE
International City apartments are 116% costlier than UAQ
By Parag Deulgaonkar
Published Sunday, March 06, 2016
Umm Al Quwain (UAQ) offers the cheapest rentals for two-bed apartments across the UAE, which are almost 116 per cent lower than Dubai’s International City and 217 per cent inexpensive than Abu Dhabi’s Mohammed Bin Zayed (MBZ) City, a comparison of data based on Asteco report reveals.
Average rent for two-bedroom apartments in UAQ are Dh30,000 per year, followed by Ajman at Dh35,000 per year. Sharjah comes in next at Dh36,000 per year, while Ras Al Khaimah (RAK) offers two-beds units at Dh40,000 pa.
For new apartments in Sharjah and RAK, average rents are Dh56,000 per annum (pa) and Dh60,000 pa, according to the consultancy’s fourth quarter 2015 report on Northern Emirates.
In Fujairah, average rents are, however, Dh49,000 pa.
The cheapest two-bed apartment available in Dubai is in International City with average rents at Dh65,000 pa, mentions Asteco’s fourth quarter report on Dubai real estate market. In comparison, the International City apartment is almost 116 per cent costlier than UAQ and 85.71 per cent pricier than Ajman.
In March 2015, Dubai Municipality Director-General Hussain Nasser Lootah had told Emirates 24|7 that that residents should try and live close to their work place.
“We always want to encourage people to live close to their offices instead of travelling. Besides, we always encourage them to use mass transportation, such as the Metro and buses,” he said, adding, “It is ‘affordable’ here, but people have to choose the right way… If you compare the areas (rents), you should also consider the cost of transportation, and time wasted in travelling.”
In Abu Dhabi, the least expensive apartments are in MBZ and Khalifa City A with average rents being Dh95,000 pa. The rents, therefore, are a whopping 217 per cent and 171 per cent costlier than UAQ and Ajman, respectively.