Dubai rent is now 21 percent more affordable

Stats come from the latest Property Finder report

Dubai rent is now 21 percent more affordable

Now is one of the best times to rent an apartment in Dubai according to a recent report by property experts Property Finder Trends.

Over the past two years, average rent rates for apartments throughout the city have dropped by 21 percent, all because of increased housing supply and popular trends in the market.

The report states that the median annual rent for Dubai apartments is at a Dhs79,650 average, while villas is currently at Dhs166,667.

One of the factors is the number of new residential properties, with 19,449 already completed in the first half of 2019, while 2018 overall saw 33,363 units completed.

“For the rental market, declines overall have seen a modest drop when comparing with prices from the last six months,” said director of data and research at Property Finder Lynnette Abad.

“The trend of being able to find bargains for everything from lower prices, an increased number of cheques as well as other incentives such as free utilities, are proving popular among renters.”

As for areas with the most affordable property, Town Square had a -10.1 percent decline, Motor City with -6.4 percent, Culture Village at -6.2 percent, Dubai Investment Park with -6.1 percent and finally Arjan with -5.7 percent.

Other spots that saw a decline in rent prices included Damac Hills, Dubai Silicon Oasis, Dubai South and The Views over the first half of the year.

Dubai Marina is still the most popular area for renting, while Downtown Dubai, Palm Jumeirah, Jumeirah and Al Barsha are close behind.

If you're looking for more information on renting in Dubai, check out our guide by clicking here.

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