Once upon a time, a real-estate bargain in Dubai was as rare as a cloudy day. During the boom years of 2007 and 2008, apartment rents rocketed to record levels, while tenants scrambled for space in even the lowest-quality buildings. Today, things have changed. As a massive oversupply of property enters the market, long gone are the days of overpriced apartments and villas, and now marks a new era of quality and affordability. If there was ever a time to get a good deal on a new apartment, it’s now.

A recent report published by UAE property group Asteco revealed how the average apartment rental rates in Dubai fell by 6 per cent between July and September, with villas falling 4 per cent – both as
a result of an oversupply of property. This follows a 50 per cent decrease in rents across the board since summer last year. As a result, hundreds of people are rethinking their living arrangements. Want to do the same? We’ve done the legwork for you.

Jumeirah Beach Residence (JBR)
Average annual rent for a one-bed apartment: Dhs81,000
Amenities: Jumeirah Beach Residence is today one of New Dubai’s most affordable and convenient living areas. Strategically located between the beach and Dubai Marina, residents have easy access to the city’s best bits. The community itself is safe, friendly and perfect for young singles, with pools, supermarkets, coffee shops and modern eateries such as Pizza Express, Starbucks and Subway. The Walk has an array of designer shops and conveniences such as a Boots pharmacy and Emirates NBD, as well as many restaurants along the seafront. Best bars include the Hilton’s beach bar and Trader Vic’s Mai-Tai Lounge in Al Fattan Towers, which serves happy-hour drinks most nights.

Drawbacks: It can be difficult to find studios and one-beds, and the lifts are regularly out of service – not great if you’re living on the 39th floor. It is also slightly more expensive than the Marina, primarily due to its location. And there is only one small gym, in Amwaj.

Residents’ tip: Girls looking for affordable beauty treatments should try Tips and Toes in Amwaj. It’s cheaper than the salons along The Walk, but offers the same quality service.

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