Strain on budget - Dubai Marina rents up 15%

Rents are looking up once again in the Dubai Marina area and are already up by 15 per cent since the beginning of this year.

“The rent hike has been between 9  and 15 per cent depending on the project, size, view and location of the building in Dubai Marina,” Nina Pekina, Senior Residential Consultant, Dubai Marina Office, Better Homes told Emirates 24|7.

According to Pekina, the rent for a one-bedroom plus study in Original 6 Towers starts at Dh120,000.

A two-bedroom plus study in the same building starts at Dh145,000 and a three-bedroom with maid’s room can go for Dh200,000.

A little more affordable yet popular building in the area is Marina Promenade.

Here, a one-bedroom starts at Dh90,000 and rent for a two-bedroom is around Dh140,000.

According to the Better Homes expert, a three-bedroom unit is hard to find in the building “but if [there is ] any, then the rent is Dh220,000.”

Silverene, another popular building, is relatively easier on an individual’s budget than the above-mentioned locations.

A one-bedroom here starts at Dh75,000; two-bedrooms at Dh130,000 and a three-bedroom apartment at Dh180,000.

A one-bedroom apartment in The Waves is being leased out for Dh70,000; a two-bedroom at Dh110,000 and a three-bedroom at Dh160,000.

Talking of Jumeirah Beach Residences, Pekina, believes Murjan 4 (furnished apartments) is the most popular choice among residents opting to reside in the Marina.

A two-bedroom unit in the building can be rented for Dh170,000 and a three-bedroom for Dh190,000.

Marina is, and has been, a popular community with young couples yet to start families. “[It is popular among] young couples, professionals, who prefer waterfront and beach living, or individuals who work in Abu Dhabi,” said Pekina.

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