Revealed: Dubai areas where rent is becoming more affordable

JLT, Jumeirah Village and Palm Jumeirah are among the places with the biggest changes

Revealed: Dubai areas where rent is becoming more affordable

Rent has become more affordable in many places throughout the city over the past year – and new research has shown the areas offering the biggest discounts for tenants.

Asteco Real Estate looked at apartment and villa prices throughout Dubai while compiling the research.

The biggest changes year-on-year were in JLT and Jumeirah Village, where prices decreased by 16 percent.

Apartments in general have become more affordable, with the prices in Dubai Marina – which is popular with expats – eight percent lower.

The supply of apartments has surpassed the demand leading to more affordable rent prices.

In comparison, villa prices are less forgiving with small declines of three percent in Silicon Oasis and six percent in Jumeirah Park.

Arabian Ranches, Dubai Sports City, Jumeirah and Umm Suqeim all decreased by eight percent.

Mirdif and Jumeirah Village were both down 14 percent, the biggest difference out of all villa-based developments.

Here is a full list of the rental percentage changes for all major developments in Dubai.

Q1 2018 – Q1 2019 (Rental Rate percentage changes)
Apartment

• Dubai Marina – (-8%)
• International City – (-9%)
• Deira – (-10%)
• DIFC – (-10%)
• Downtown Dubai – (-10%)
• Sheikh Zayed Road – (-10%)
• Discovery Gardens (-11%)
• JBR – (-12%)
• Palm Jumeirah – (-12%)
• Business Bay – (-13%)
• Dubai Sports City – (-14%)
• Greens – (-14%)
• JLT – (-16%)
• Jumeirah Village – (-16%)

Villas
• Silicon Oasis – (-3%)
• Jumeirah Park – (-6%)
• Arabian Ranches – (-8%)
• Dubai Sports City – (-8%)
• Jumeirah – (-8%)
• Umm Suqeim – (-8%)
• Palm Jumeirah – (-9%)
• Meadows – (-10%)
• Springs – (-10%)
• Jumeirah Village – (-14%)
• Mirdif – (-14%)
• The Lakes – (-14%)

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