Dubai's cheapest rents just Dhs22,000

International City studios are city's cheapest property

The cheapest annual rent in Dubai is as little as Dhs22,000 for a studio in the country clusters of International City, latest figures reveal.

Landmark Advisory's rental guide for June also showed that one-bed apartments in Palm Jumeirah are now available for Dhs75,000, a 20 percent drop compared to March rents listed by Dubai's real estate regulatory agency.

The study by Landmark, which said on Monday that rents had declined in even the most sought after locations since April, also showed that a studio apartment in Dubai Marina now costs as low as Dhs38,000.

This figure represents a Dhs7,000 drop compared to RERA's March rental index.

Landmark's June guide also showed that four-bed apartments in Dubai Marina could be rented for Dhs150,000.

Landmark's rents for studios in Discovery Gardens suggest they have hit some sort of bottom, with rents listed from Dhs35,000 - the same as RERA's March valuation.

However one-bed and two-bed apartments have dropped by Dhs10,000 and Dhs20,000 respectively compared to March figures.

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