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19 March 2024

Where in Dubai can you rent an apartment for Dh25,000

Published
By Parag Deulgaonkar

International City is no longer the cheapest community to rent a studio apartment in Dubai.

Rentals for studio units in Arjan master community in Dubailand are the lowest and ranges between Dh25,000 and Dh30,000 per annum (pa), according to a comparison of all the communities listed by the Real Estate Regulatory Agency’s (Rera) rent index.
Online listings, however, put the asking rents for studios at Dh35,000 to Dh50,000 pa in Arjan, - the upper range being for furnished apartments.

The rental index, which is updated thrice a year by Rera, the regulatory arm of Dubai Land Department, reveals lease rates for studios in Dubai Investment Park (DIP) between Dh25,000 and Dh35,000 pa, but market listings put the asking rents between Dh45,000 and Dh55,000 pa.

For International Media Production Zone (IMPZ) and International City, the index reveals rentals of between Dh30,000 and Dh35,000 pa, respectively. On the contrary, market listings for IMPZ ranges from Dh40,000 to Dh50,000 pa while for International City it is between Dh35,000 and Dh40,000 pa.

The index shows studio rents for Jumeirah Village and Dubai Silicon Oasis at Dh35,000 to Dh40,000 pa, respectively. In comparison, asking rates for the former is between Dh40,000 to Dh65,000 pa and Dh40,000 to Dh55,000 pa for the latter.

“I just arrived in Dubai two weeks back. Rents are really high and so I couldn’t afford anything in areas near to Sheikh Zayed Road. Hence, I decided to rent in Dubailand as it was much cheaper,” Lue Chang, a PR executive, told Emirates 24|7.

“I even got to pay my annual rent in six cheques while in Jumeirah Lake Towers or Discovery Gardens the agents were asking me to pay in one or two cheques. That’s not possible for someone who has just moved to Dubai,” he adds.

S Sainathan, who works at a private firm, hates being stuck in Sharjah-Dubai-Sharjah traffic every day and hence has moved to a smaller unit in Dubailand.

“I have moved to Dubailand area though I know I could have rented a large one-bed apartment in Sharjah for the rent I pay here. I hate getting stuck in traffic, a daily nuisance for all commuters from Sharjah to Dubai.”

He states: “It takes only 20 minutes for me to reach my office on Sheikh Zayed Road and vice versa. Though we don’t have all the facilities such as grocery stores, hospitals, schools, etc., now, I am sure it will come up soon.”

ValuStrat, a Dubai-based consultancy, said earlier that there was high demand for studio apartments, driven by investors and end-users that are being priced out of the larger apartment market.

Prices of studio units (700 square feet or less) have increased by 36.2 per cent to Dh1,112 per square feet in the past 12 months, the consultancy has said.