Dubai rental prices updated by RERA

06.01.2016
A new report by RERA revealed which Dubai areas saw rental hikes and downs.

The dissimilarity of rental pricing remains one of the main characteristics of the Dubai rental market. While in some areas prices are falling, other locations, on the contrary, face further rental growth due to demand.

Real Estate Regularity Authority (RERA) has issued its annual official rental index update suggesting some price changes. The index showed that prices have declined significantly in some Dubai areas, and in others rentals remained unchanged or showed an increase of 3-5%.

Apartment rentals in such popular Dubai areas as Business Bay and Downtown were up by an average of 2.7 and 2.4% respectively, while rental expenses have remained unchanged for tenants in Jumeirah Lake Towers (JLT). According to the RERA 2016 rental index, you can still rent an apartment in JLT for USD 20,420 to USD 25,000 pa.

One-bedroom apartments in Discovery Gardens now cost 3.5% more in comparison with the July 2015 rates: rentals for this kind of units there are about USD 17,000-20,000 pa now.

Much still depends on the apartment size: small studios and one-bedroom apartments are usually in high demand, that’s why studios and one-bed rentals in Jumeirah Village and the Greens have not changed, while bigger apartments have slightly decreased in price.

The situation is similar in Dubai Marina. Everything depends on demand here as well. The average apartment rentals in this Dubai area stand for USD 24,500- 30,000 pa.

International City keeps the title of the most affordable Dubai areas for tenants. Rentals here declined by 14% since the middle of last year and now stand for an average of USD 10,500-12,000 pa.

Subscribe to our news

Latest Availability
Latest property news
Send us an enquiry or request a call back
Your name *
Phone
E-mail *
Your message *
*- indicates required
Request a call back
Lease process (Rent out)

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership

1 day

Ad placement:

  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.

Up to 2 days

Signing of the lease agreement

Expenses of the seller:

None

Additional services:

Property management

Lease process (Rent)

1 hour

Contract of the lessee and agency.

Up to 5 days

Real estate search.

Selection of optimal options.

Up to 2 days

Signing of the lease agreement

Expenses of the lessee:

-5% agency commission of the annual contract price

Additional services:

None

Purchase process

1 hour

Contract of the tenant and agency.

~ 2 weeks secondary

~ 3 weeks new building

Property Selection

Selection of optimal options

1 Week

Registration of the contract of purchase / sale

Customer charges:

  • 2% from purchase at transaction
  • 4% - registration of the transaction at registration

Additional services:

Property management

Sales Process

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership

1 day

Ad placement:

  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.

Up to 2 days

Signing of the lease agreement

Expenses of the seller:

None

Additional services:

None

the management process

1 hour

Contract of the owner and agency

1 year

Rendering of management services

1 day

Reporting

Expenses of the owner:

5% of the annual rental price

Additional services:

None

Investment Process

1 hour

Contract of the tenant and agency.

From 3 days

Selection of optimal investment options

1 Week

Registration of the contract of purchase / sale

Expenses of the investor:

  • 2% when investing in the secondary market
  • 0% when investing in a new building
  • 4% - registration

Additional services:

Property management