Most affordable rental options available in the Dubai rental market

14.07.2015
Analytical portal Tasweek published a list of Dubai locations with the cheapest housing rents.

At the general background of prices decline in Dubai rental property market, tenants themselves often face an increase in rental costs upon the lease agreement renewal, so the real estate portal Tasweek made up a list of the most affordable properties for rent in Dubai, in order that everybody had all necessary information about options they have.

International City with the lowest to date price for rental properties in Dubai tops the list — here you can rent a studio apartment for US $ 11,400 a year. One-bedroom apartment will cost a tenant on average US $ 15,800 for a year lease, and a two-bedroom apartment — about US $ 27,300 per year.

The second and third positions on the affordability rents list went to Dubai Silicon Oasis and Discovery Gardens. One can rent a studio apartment in these Dubai residential communities for an average of US $ 12,800 – 15,000 per year, one-bedroom apartment is available for rent for US $ 18200 – 20000 per year and two-bedroom apartment — for US $ 24,000 - 30,000 per year.

The very idea of living in a rented villa can hardly be regarded as affordable rental option, but there are some extremes in this market segment too. Thus, the cheapest villa rental options in Dubai can be found in Jumeirah Village. The smallest three bedroom villa will cost you an average of US $ 46,200 per year, while more spacious mansions with four to five bedrooms will cost a tenant about US $ 49,000 – 51,700 per year lease, which is still much cheaper than renting villas on Palm Jumeirah, where it is hard to find a villa for rent less than US $ 108,000 per year.

The list of the cheapest villas for rent, according to Tasweek, also includes Dubai Silicon Oasis and The Villa complex in Dubailand, where rental prices range from US $ 57,000 to US $ 80000 per year.

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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