Tenants can now search for affordable apartments in International City, Discovery Gardens and many other areas of the city. ...
Rents in Dubai have been steadily declining over the past few years due to the oversupply in the market.
The data showed that rents fell to 17 percent in some areas of Dubai in the third quarter alone.
Industry analysts and executives are forecasting a further drop in rents in 2020 and 2021, as excess supply will keep rents under pressure and make them a friendly rental market.
Rents for a one-bedroom apartment in Dubai start from AED 20,000 in the "Old Dubai" area and go up to AED 110,000.
Based on the latest Q3 data by Asteco, here is a list of areas where renters are finding the cheapest rents in Dubai for a one-bedroom apartment. The regions are divided into three categories - affordable, medium and high-end and from high-end to luxurious:
Affordable one bedroom homes in Dubai
• International City is the area you are looking for for a very affordable apartment. Rents start from 20,000 dirhams and go up to 32,500 dirhams for a one-bedroom apartment.
• A one-bedroom apartment in Deira costs between 25,000 and 50,000 dirhams per year.
• One-bedroom rentals in Jumeirah Village start at AED 26,500 and go up to AED 60,000.
• The cost of a one-bedroom apartment in Dubai Sports City is 27,500 dirhams, rising to 45,000 dirhams.
Discovery Gardens is classified as an affordable area with offers on one-bedroom apartments ranging from AED 32,500 to AED 50,000.
Medium to high
• Jumeirah Lake Towers (JLT) offers the cheapest rent for a one-bedroom apartment in this category, with rents ranging from AED 32,500 to AED 65,000.
• Rentals in Business Bay and Dubai Marina range between 37,500 dirhams and 65,000 dirhams.
• A 1BHK at The Greens costs 40,000 dirhams, rising to 70,000 dirhams
• Rents in Jumeirah Beach Residence range from AED 50,000 to AED 75,000 per year
From mid to high
• You can rent an apartment in the city center and Sheikh Zayed Road between 45,000 dirhams to 85,000 dirhams.
• Rents in the DIFC range from 55,000 dirhams to 95,000 dirhams.
• Palm Jumeirah is one of the most expensive areas where a one-bedroom apartment starts from 60,000 dirhams and can go up to 110,000 dirhams.