Some freehold areas still affordable

04.10.2014
International City, Discovery Gardens, Dubai Silicon Oasis, Dubai Investment Park and Dubailand are among the least expensive locales for renting property.
Rents in Dubai are slowly rising, but property prices are down slightly in August, according to data from Reidin.com.
Residential rental prices in the emirate rose by one per cent in August, registering a yearly increase of 21.6%, Emirates 24/7 reported. Apartment rents rose 1.19% month-on-month (m-o-m) and 24.1% year-on-year (y-o-y). Villa rental, on the other hand, rose by mere 0.03 % m-o-m and 9.4% y-o-y.
Apartment owners in the newer freehold areas are likely to offer lower rents in order to attract tenants.
Emirates 24|7 reported on Wednesday that the Dubai’s official rent index revealed that rents of a studio apartment in Arjan, Dubailand, was between AED25,000 and AED30,000 per year.
Separately, Propertyfinder.ae, a property website, put International City, Discovery Gardens, Dubai Silicon Oasis, Dubai Investment Park and Dubailand as the least expensive locales for renting property.
Median rents in the third quarter 2014 for International City stood at AED42,000 per year; Discovery GardensCAED58,500 per year, Dubai Silicon Oasis AED60,000 per year, while Dubai Investment Park and Dubailand were at AED65,000 per year, respectively.
“Rents are experiencing a slowdown in certain areas. For instance, in Jumeirah Lake Towers, apartment rents fell by 4.6 per cent between June and August,” said Michael Lahyani, CEO, Propertyfinder.ae.

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