Logo
  • Order call
  • Call management

Property type
No. of bedrooms
Area
Show offers

Dubai: The most expensive and the cheapest areas to rent

02.08.2016
Dubai: The most expensive and the cheapest areas to rent
Where to get the most out of your lease and where to find the cheapest accommodation in Dubai.

Specialists of leading Dubai agencies regularly update their information on the most expensive and the cheapest areas for rent and for lease. And often in the top-list between the priciest there suddenly appear some ‘newcomers.’

Imexre.com also monitors changes in demand and rental prices in various areas of Dubai adding our data to the general statistics, and this time the one most unexpected to appear in the top five rental areas was the DIFC free zone, where the cost of renting one-bedroom apartment can reach today up to AED 130,000.

The rest of the top rental list is not surprising. As always, the most expensive property units in Dubai are leased and sold in areas such as Burj Khalifa, Jumeirah Beach Residence, Dubai Marina, Business Bay and a group of man-made islands of Palm Jumeirah. These areas attract investors’ major interest in terms of gaining the biggest rental yields, and both are most popular among tenants and agencies.

The world's tallest tower Burj Khalifa commands up to AED170,000 (USD46,000) per annum for a one-bedroom apartment. And on the palm-shaped archipelago rentals mostly depend on location (on the "trunk" or at the very edge of the ‘Crescent’ by the shoreline), as well as on the type of property (villa or apartment), pretty much as elsewhere. The maximum registered rental price for a 1-bed apartment here is up to AED155,000 pa (USD42,200).

The cheapest accommodation options can be found mostly in the periphery, in areas that do not often appear in the reports, such as Al Awir, Dubai Outsource Zone, Abu Hail, Al Ras, Naif, as well as quite popular and frequently mentioned in classifieds International City, International Media Production Zone (IMPZ) and the Gardens. The most expensive one-bedroom apartments here are leased at an average of AED30,000 - 35,000 pa (USD8000 - 9600).

Contrary to expectations, rental rates in Dubai as a whole haven’t decreased, mainly due to the shortened supply of new homes to the market.

Declan McNaughton, Chestertons’ UAE managing director, said: "For sure, some families are downsizing”. Yet many tenants are still on their so called ‘legacy’ rents, and due to the rental calculator presented by RERA, landlords are still free to increase such rents, aligning them with market rates, which, in turn, may effect in overall statistical uptick in rental prices in the next months, experts say. The current renewal cycle for August/September coinciding with the new school year will determine if there is any softness in rents.

Latest Availability
RENT
125,000 / year
Ref.No: OF1209
Office
1,655 ft2
76 AED/ft2
SALE
6,800,000
Ref.No: AP1113
3BR Apt
3,003 ft2
2,264 AED/ft2
SALE
8,200,000
Ref.No: AP972
3BR Apt
3,750 ft2
2,187 AED/ft2
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
SOGA1  SOGA2
Call management
SOGA1  SOGA2
Lease process (Rent out)
Contract of the lessee and agency.

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership
Ad placement

1 day

Ad placement:
  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.
Signing of the lease agreement

Up to 2 days

Signing of the lease agreement
Expenses of the seller:

None

Additional services:

Property management

Lease process (Rent)
Contract of the lessee and agency.

1 hour

Contract of the lessee and agency.
Real estate search.

Up to 5 days

Real estate search.

Selection of optimal options.

Signing of the lease agreement

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
Contract of the tenant and agency.

1 hour

Contract of the tenant and agency.
Property Selection

~ 2 weeks secondary

~ 3 weeks new building

Property Selection

Selection of optimal options

Registration of the contract of purchase / sale

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
Contract of the lessee and agency.

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership
Ad placement

1 day

Ad placement:
  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.
Signing of the lease agreement

Up to 2 days

Signing of the lease agreement
Expenses of the seller:

None

Additional services:

None

the management process
Contract of the owner and agency

1 hour

Contract of the owner and agency
Rendering of management services

1 year

Rendering of management services
Reporting

1 day

Reporting
Expenses of the owner:

5% of the annual rental price

Additional services:

None

Investment Process
Contract of the tenant and agency.

1 hour

Contract of the tenant and agency.
Selection of optimal investment options

From 3 days

Selection of optimal investment options
Registration of the contract of purchase / sale

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