The rental market in Dubai is seeing some serious growth in rental rates. Several new reforms introduced by the emirates, such as the Golden Visa, led to a significant increase in population after Expo 2020. As the cost of living rises, mortgage rates rise, and new supply is expected, the demand for residential properties could change.
The average rent for apartments in Dubai had increased by 21.2 percent and the average rent for villas in Dubai had increased by 24.7 percent in the last 12 months to June 2022. Average apartment rents in Dubai were about 85000 dirhams, while Dubai villa rents were about 255,000 dirhams.
Multiple buildings and/or developments experienced significant fluctuations ranging from single-digit drops to double-digit increases. The changing work and living habits of people have sparked an increase in demand for mature and growing villa developments.
Most Budget-Friendly Areas To Rent In Dubai – Annual Rent
1. International City:
Affordable properties for rent in Dubai are widely available in the suburban locale of International City. International City is one of those very few localities that contribute to Dubai’s contemporary and cosmopolitan atmosphere due to its diversity and melting pot of nationalities and cultures. Various nationalities live together in harmony here. As a result of the business activities and retail opportunities offered here, the International City is able to maintain its unique structure.
Studio apartments for rent in International City start from AED14K and go up to AED44K. 1-bedroom rental apartments in International City begin from AED26K and go up to AED72K. 2-bedroom apartments for rent in International City commence from AED38K and go up to AED65K. 3-bedroom rental apartments start from AED69K and go up to AED86K.
2. Deira:
As the commercial epicenter of the emirate, Deira is bordered by Sharjah, Dubai Creek, and the Persian Gulf. The properties in Deira come in two types, the waterfront end of the city having gold and spices souks, and the inland creek near the airport that is primarily occupied by tourists. Renters and residents of Deira can enjoy the beautiful views of the wind towers lined along the bustling banks of Bur Dubai by heading over to the lovely Corniche north of the community.
Studio apartments for rent in Deira start from AED14K and go up to AED100K. 1-bedroom rental apartments in Deira begin from AED21K and go up to AED125K. 2-bedroom apartments for rent in Deira commence from AED32K and go up to AED205K. 3-bedroom rental apartments start from AED52K and go up to AED255K.
3. Dubai Sports City:
This is a mixed-use development offering residential, recreational, and commercial space. Among its most renowned features is the Ring of Fire Cricket Stadium, which has hosted multiple international matches. An active lifestyle is the hallmark of Dubai Sports City, as its name suggests. Five sports venues are located in the city, which host international sporting events. The place attracts a lot of tourists because of its sports venues, which is one of the main reasons to get an apartment here. The location is great for establishing a business that will thrive, plus you can live right next door!
Studio apartments for rent in Dubai Sports City start from AED22K and go up to AED52K. 1-bedroom rental apartments in Dubai Sports City begin from AED31K and go up to AED75K. 2-bedroom apartments for rent in Dubai Sports City commence from AED44K and go up to AED129K. 3-bedroom rental apartments start from AED75K and go up to AED90K.
4. Discovery Gardens:
Located in the heart of New Dubai, Discovery Gardens is one of the best residential complexes in the city. Its high occupancy rate – between 95 and 97% – makes Discovery Gardens one of Dubai’s best-known properties. Lush foliage, manicured lawns, or desert blooms? The Discovery Gardens has everything you need to satisfy your cravings. Getting an apartment here means you’ll be in the middle of New Dubai.
Studio apartments for rent in Discovery Gardens start from AED27K and go up to AED52K. 1-bedroom rental apartments in Discovery Gardens begin from AED36K and go up to AED65K. 2-bedroom apartments for rent in Discovery Gardens commence from AED52K and go up to AED78K.
5. Jumeirah Village Circle:
Nakheel, Dubai’s leading real estate developer, pioneered Jumeirah Village Circle, a family-friendly master community. With a range of amenities, this property is an ideal rental or investment option for those looking in the heart of new Dubai. Affordably priced apartments in Dubai are among the most sought-after properties in the community.
Studio apartments for rent in Jumeirah Village Circle start from AED23K and go up to AED85K. 1-bedroom rental apartments in Jumeirah Village begin from AED32K and go up to AED110K. 2-bedroom apartments for rent in JVC commence from AED45K and go up to AED165K. 3-bedroom rental apartments start from AED79K and go up to AED180K.