As the Dubai real estate market preps for the end of the holiday season with new offers and launches, here’s a look at the top five areas to rent apartments in Dubai according to the H1 2018 report from UAE’s leading property portal Bayut.com.
The waterfront location of Dubai Marina remains the most coveted location to rent apartments in the emirate, thanks to its proximity to a number of commercial hubs including Dubai Internet City and JLT. To afford an upscale studio in Dubai Marina, one has to shell out an average of AED 60k per year, while a larger one-bedroom unit average at AED 87k and 2-bedroom flats go for AED 130k. The sought-after towers to rent in Dubai Marina in terms of search popularity are Marina Diamonds, Marina Pinnacle, Princess Tower, the Torch and Elite Residence.
The next popular district to rent flats in Dubai lies on the other end of town, in Deira. The erstwhile commercial hotspot of Dubai when the emirate rose to prominence as a trading center, Deira is still in demand for its affordable rents, proximity to amenities including hospitals, schools and metro stations. The price for renting studios in Deira average at a very modest AED 32k, 1-bedroom apartments are at AED 55k and 2-bedroom units are at AED 92k. Incidentally, Deira was one of the few areas where there was a significant increase of over 8% in rent for 2-bedroom flats while both studios and 1-bedroom units went down by approximately 15%.
Student-friendly Dubai Silicon Oasis takes the third spot on Bayut.com list for popular apartment rentals. The prices are lesser than those in Deira with the notable exception for studios which go for AED 39k, while 1 and 2-bedroom flats average at AED 53k and AED 80k respectively.
The other Old Dubai district that still retains its popularity with renters is Bur Dubai. It is extremely well-connected, is close to Jumeirah, DIFC, Downtown Dubai and Sheikh Zayed Road, and has a slew of restaurants and stores to cater to all the different communities living in the emirate. The price for renting studios on average is AED 45k, while that of 1 and 2 bedroom apartments are AED 65k and 90k respectively.
Urban JLT is the final entry on the list of top 5 areas to rent apartments in Dubai. Across the road from Dubai Marina, the towers at JLT offer similar amenities at a more modest price tag. Renters can expect to shell out an average of AED 54k for studios, AED 75k for 1-bedrooms and AED 103k for 2 bedroom units as per the findings by the Bayut data team.
The prices across the market have fallen on average making it a great time to upgrade to larger apartments or move closer to work. Take advantage of the fact that Dubai is a renter’s market right now and choose from one of these top five locations for your next home in the city.
Featured image: Dubai. Author: Khalid A . AL-Saif