How much UAE residents are willing to pay for a rent?

Propertyfinder has revealed, where Dubai residents prefer to rent apartments and how much they are willing to pay for them.

A new report by a popular UAE real estate portal Propertyfinder has defined a range of lease properties most preferred by Dubai and Abu Dhabi tenants, both in price and in location categories.

25% of Dubai residents and more than 29% of Abu Dhabi residents are searching for rental options between USD 13,500 to USD 27,000 pa. However, more expensive units are at almost the same demand: 24% of Dubai residents and nearly 27% of Abu Dhabi residents are looking for apartment or a villa between USD 27,000 to USD 40,000 pa. Thus, the most preferred properties for rent in Dubai and Abu Dhabi fall into the bracket of USD 13,500 to USD 40,000 pa.

As for the locations, little has changed in Dubai rental market in the last three months covered by the report. Most of the requests as always are for Dubai Marina, Palm Jumeirah, Jumeirah Lakes Towers, Downtown Dubai and Business Bay. The least demanded Dubai locations, according to Propertyfinder, are Dubai Discovery Gardens, Tecom and Al Barsha. In Dubai property sales sector there is little difference in buyers’ preferences, except for the last three positions from the list, occupied by Dubai Media Production Zone, Discovery Gardens and Dubai Festival City.

In Abu Dhabi Al Reem island is in greatest demand among tenants, according to the search statistics by Propertyfinder. It is followed by Al Ghadeer, Al Khalidiya and Al Raha Beach. The least demanded UAE capital locations are Al Najda Streer, Al Nahyan Camp, and still, but not for long, as experts say, Saadiyat Island. Hamdan Street boasts the highest median sales price of USD 20.4 million, the report said.

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