Which Dubai areas are costliest to rent a 2-bedroom flat?

Dubai’s official rental index has been updated for the second time this year and it reveals that rents are continuing to rise across all the emirate’s freehold communities.

A rent comparison for two-bedroom apartments by Emirates 24|7 based on the second and first index update found Business Bay topping the charts, followed by Jumeirah Lake Towers (JLT) and Downtown Dubai.

Rents jumped by almost 35 to 37 per cent for two-bedroom apartments in Business Bay, with lease rates now between Dh95,000 and Dh130,000 per annum, compared to Dh70,000-Dh95,000 pa.

Jumeirah Lake Towers saw rents rising 30 to 38 per cent for two-bed apartments with the current cost of renting between Dh90,000 and Dh130,000 pa, compared to Dh65,000-Dh100,000 pa.

Downtown Dubai, the master community housing Burj Khalifa, the world’s tallest tower, saw rents rising 28 to 30 per cent for two-bed apartments.

Currently, cost of renting is between Dh130,000 and Dh180,000 pa compared to Dh100,000-Dh140,000 pa.

Rents in Dubai Marina went up by 15 to 28 per cent, according to the new rent index update.

Leases for two-beds start from Dh90,000-Dh150,000 pa compared to Dh70,000-Dh130,000 pa.

Leases in Jumeirah Beach Residence (JBR) now start at Dh100,00-Dh150,000 pa, compared to Dh90,000-Dh120,000 pa in the first four months of 2013, an increase of 11 to 25 per cent.

In Discovery Gardens, rents went up by over 20 per cent with units being leased for Dh60,000 to Dh85,000, while in Dubai Silicon Oasis (DSO) rents saw an increase of 17 to 25 per cent to Dh50,000 to Dh70,000 pa.

The index, which is updated thrice a year by Real Estate Regulatory Agency (Rera), is not mandatory to be followed, but aims to provide landlords and tenants a guide to rent pricing.

In case of disputes, the Dubai Municipality Rent Committee follows the rent index whilst making decisions.

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