Prices for rent in Dubai’s most affordable neighbourhoods start at AED 19,000
Despite the average increase in rental prices, certain parts of both old and new Dubai offer the most affordable rents.
This will continue to draw tenants because of rentals and high market demand due to the emirate’s robust economic growth.
In Dubai, the average rent for a villa last year exceeded AED 268,000, while the average rent for an apartment reached AED 90,000.
According to the Insights data, a similar trend is anticipated to continue this year.
Most affordable rents in Dubai
The huge number of foreigners relocating to Dubai is one of the main factors pushing the rental market.
The number of people relocating to Dubai to pursue jobs, entrepreneurship, and an upmarket lifestyle is increasing daily.
Rental property demand increased, which caused rent to increase but tenants can still find affordable housing options in some places.
The most cost-effective neighbourhood to rent a home in the city is International City, where the average rent is between AED 19,000 and AED 55,000.
Another neighbourhood with affordable rent is Dubai Silicon Oasis, where the average rent for studios and one-bedroom apartments is AED 32,000 and AED 68,000, respectively.
Another well-liked neighbourhood for affordable housing in Dubai is Bur Dubai, which has average rents of AED 20,000 to AED 60,000 for studios and AED 36,000 to AED 130,000 for 1-bedroom apartments.
Tenants looking for affordable houses continue to like Discovery Gardens.
The average rent in Discovery Gardens is between AED 30,000 – AED 60,000 and AED 26,000 – AED 80,000 in Sports City.
Deira has one of the lowest average rents for rental villas, at AED 114,175.
Jumeirah Village Triangle and Jumeirah Village Circle are the next two, with average rents of AED 149,598 and AED 155,529.
Lastly, Reem is another well-liked neighbourhood for affordable villas in Dubai, with an average annual rent of AED 157,414.
With rents expected to rise even more in 2023, tenants would prioritise contract extensions over new leases.
Get in touch with Silver Oak Properties to rent or buy your dream property in Dubai.
