The Dubai Rental Index for 2018 has just been revealed, and those looking to save some cash on rents can rejoice!
With new communities popping up regularly, housing supply is increasing in the Emirate, which in turn contributes to lower rents. Another new housing trend in Dubai is that of suburban living. Tenants are now moving away from central Dubai to areas further from Sheikh Zayed Road in search for larger and cheaper accomodation.
"Dubailand and Jumeirah Village Circle (JVC) and Triangle (JVT) are emerging as the most competitively priced rental districts," says David Godchaux, CEO of Core Savills, a real estate consultancy reports Khaleej Times.
Accoding to Khaleej Times, the 5 most affordable areas in Dubai are as follows:
- Abu Hail
- Al Awir
- International City
- Al Quoz
- Al Baraha
Other communities that have been flagged as preferred in terms of rent are:
- Al Warqa
- Dubai Silicon Oasis
- Al Furjan
- Discovery Gardens
- Al Nahda
- Al Qusais
Households with a monthly income of Dh15,000 are opting for two-bedroom apartments in Al Nahda, Al Qusais, International City, Liwan and Al Warqa. Average rents in these areas range from Dhs60,000 to Dhs70,000 per year.
Households with monthly income of Dh22,500 to Dh27,500 can consider three-bedroom apartments for an annual rent of Dhs90,000 in areas such as Al Nahda, Dubailand, Dubai Silicon Oasis, Al Qusais and Liwan.
Will you be moving this year?