Rents are Dropping in Dubai: Here's Where They Are Falling the Most | ExpatWoman.com
 

Rents are Dropping in Dubai: Here's Where They Are Falling the Most

These popular neighbourhoods in Dubai are turning into some of the most affordable places to live in

Posted on

14 October 2020

Last updated on 19 October 2020
Rents are Dropping in Dubai: Here's Where They Are Falling the Most

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With a number of UAE residents out of work because of the Covid-19 outbreak, rents are decreasing in many parts of Dubai. Job losses due to the pandemic have also disproportionately hurt renters, with expats seeking lower rents or negotiate flexible lease terms with their landlords.

For some neighbourhood communities in Dubai, such as Jumeirah Lakes Towers, Dubailand and Discovery Gardens, a market study from Core saw rent drop down to as much as 20 per cent in the third quarter of 2020.

"This has led many tenants to remain in their current premises as they have been able to achieve rental savings upon negotiations while avoiding uncertainty and additional moving costs," said Prathyusha Gurrapu, Head of Research and Advisory at Core.

So if you're looking to move into a new neighbourhood, consider one of these areas in Dubai where the cost of rent has become more affordable.

Jumeirah Lakes Towers

How much is rent in Jumeirah Lakes Towers Dubai

It’s gotten marginally less expensive to rent apartments in some parts of Dubai, and Jumeirah Lakes Towers (JLT) has joined that list.

Best for those who enjoy the hustle and bustle of the city, JLT may be for you. Core reported an average AED 50,000 annual rent for a large one-bedroom home, and an estimated AED 70,000 for a two-bedroom apartment.

For a complete area guide to JLT, including local amenities and facilities, have a look at our Jumeirah Lakes Towers area guide.

Dubailand

How much is rent in Dubailand

As per Core's report, homes in Dubailand have seen up to 21 percent in rent decline this year. Dubailand is comprised of several mixed apartment and villa communities, including Motor City, Remraam, and The Villa.

Depending on the location and type of property you're looking for, tenants can expect an average as low as AED 22,000 per year for a studio flat.

You'll also find a wide range of amenities and facilities in Dubailand, including several private schools that are highly-rated by the KHDA.

Dubai Sports City

How much is rent in Dubai Sports City

Photo: Property Geeks

There are plenty of property options in Dubai Sports City, with homes homes ranging from studios to three-bedroom flats.

A studio apartment can go as low as AED 20,000 per year. A two-bedroom space in this area can average AED 50,000 in annual rent.

For a complete guide to the neighbourhood, check out our handy area guide on Dubai Sports City.

Business Bay

How much is rent in Business Bay

Want to live in a trendy neighbourhood like Downtown Dubai, but can't afford the rent? Business Bay is your next best bet.

With its high-rise buildings, stunning views of the Dubai Water Canal and Burj Khalifa, and city lifestyle, Business Bay has grown into one of the emirate's high profiled locations to move to.

If you have a little extra money to spend, apartment rental costs in the area fell by an estimated 14 per cent. A studio can cost AED 28,000 - AED30,000 for a year and a one-bedroom flat can go as low as AED 38,000 annually.

Business Bay

Dubai Marina

How much is rent in Dubai Marina

Dubai Marina is popular among young working professionals and small families who crave the convenience of the city life.

Almost everything you need for day-to-day living is within walking distance from your home. And speaking of homes, apartments in Dubai Marina has seen rent go down by 12 per cent for 2020.

If you're looking at a one-bedroom flat in Dubai Marina, it can cost you AED 35,000 to AED 40,000 a year.

Our Dubai Marina area guide covers everything you need to know about the neighbourhood.

Discovery Gardens

How much is rent in Discovery Gardens

Discovery Gardens has been long established as one of Dubai's most affordable residential areas. Despite being set in the city, the neighbourhood is abundant in green spaces.

With properties inspired by different garden-types around the world, including Zen, Cactus, Contemporary, and Mediterranean, it's no wonder why Discovery Gardens is a magnet for cost-conscious residents in Dubai who seek a lovely retreat from city life.

One-bedroom apartments in Discovery Gardens can cost AED 30,000 per year, while two-bedroom spaces can start from, on average, AED 55,000.

Click here to learn more about Discovery Gardens in Dubai.

The Views and The Greens

How much is rent in The Views and The Greens

The Greens and The Views are both fantastic, well-established neighbourhoods in Dubai. The Views is a prime residential community with close proximity to some of Dubai's main business districts, schools and universities, shopping and dining, and more.

A one-bedroom space in The Views can fetch for around AED 50,000 a year, while rent for a two-bedroom apartment is about AED 80,000.

The Greens is a lush community that draws in bachelors and families to its contemporary residential properties. On average, a one-bedroom flat in The Greens can cost AED 38,000 a year. If you're seeking a more spacious home, a two-bedroom apartment is about AED 65,000 - AED 70,000 per year.

For a thorough area guide on The Views, click here.

To find out more about The Greens, check out our area guide to the neighbourhood.

 
 

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