Apartments for Rent in Dubai
Dubai is an excellent place for investing in real estate as there is an eclectic mix of people who are always looking for accommodation and rental properties, which are in huge demand. People are constantly moving to Dubai for jobs or a vacation. The cost of apartments for rent in Dubai is always a hot topic as home hunters weigh the benefits of renewing a lease over purchasing property or looking for another rental.
Dubai is much more than the land of shopping malls and home to the tallest buildings. People from all around the world come to Dubai for several reasons. It is not hard to find a vast supply of different types of accommodation, from large luxurious villas to modern studio apartments in convenient locations.
Renting property in Dubai is a significant investment as most tenancy agreements are for 12 months. Understanding the market before making this commitment is therefore advisable. Do your homework and look around different areas and locations before agreeing to any rental agreement.
Types of flats for rent in Dubai
Dubai is among the world’s most prominent centers of business and is also included in the list of top investment destinations. The country is known to be home of people from different nationalities and it is a top business hub as well. To accommodate all those aiming to become a part of Dubai’s growth there is an extensive variety of apartments and flats available.
The best thing about Dubai is that you can find everything here. There is a wide range of apartments, private villas, penthouses, flats, and duplex units. The extensive range ensures that people can find a place that suits their budget and lifestyle. Whether you want a furnished apartment for rent in Dubai or want to furnish yourself all the possible options are available. Finding the right apartment for rent is an important consideration for people moving to Dubai. The types of rental apartments available for tenants in Dubai include:
- Fully-furnished apartments for rent in Dubai
- Semi-furnished apartments for rent in Dubai
- Unfurnished apartments for rent in Dubai
Among these above-mentioned furnishing types, here are a few studio flat options you can look at if you have the right budget.
- Rent Luxurious penthouses in Dubai
- Rent 5 Bedroom apartments in Dubai
- Rent 4 Bedroom apartments in Dubai
- Rent 3 Bedroom apartments in Dubai
- Rent 2 Bedroom apartments in Dubai
- Rent 1 Bedroom apartment in Dubai
- Rent Studio Apartments in Dubai
Some people prefer to furnish the apartments according to their taste but not everyone has time to shop for furniture or budget available. If you want to furnish the apartment yourself then you can always rent an empty place. But if you do not have time to look for furniture then you can get furnished apartments too
Along with the furnishing, the flats for rent in Dubai also offer a lot of other great things like:
- Energy efficient, double-glazed windows
- Kitchens equipped with world-class equipment
- Fully-fitted bathrooms
- Spacious balconies to enjoy the view
Popular Areas for Renting Apartments in Dubai
Dubai is a globally renowned place and people from all over the world make it their home. Here are some of the locations popular among renters.
- Dubai Downtown is home to the most beautiful and popular construction marvels of the world like Burj Khalifa, Dubai Fountain, and Dubai Mall.
- Palm Jumeirah has the best villas, apartments and a lot of 5-star hotels apartment for rent. It is a great place for adventurous souls.
- Dubai Marina offers great nightlife and has an impressive man-made waterway.
Features to look for while renting an apartment in Dubai
Looking at the features and amenities of the apartments is important for making the right decision. When you know the features, you will have a clear idea of the luxuries and comfort you are paying for. It will also let you know whether the apartment is suitable for you or not. The price of the apartment depends on the features and location of the apartment.
It is important to understand the market and know the popular features people are looking for. The real estate industry is highly competitive so if you manage to offer the right features it will be easy to get the attention of the tenants and have a profitable rental apartment.
Here are a few requirements that people look for while renting flats in Dubai.
- Enough natural light
- A good view
- Spacious rooms
- Fittings and fixtures in good condition
- A designated parking spot for tenants
- Good security measures like a security guard, cameras and intercoms
- Luxurious features like a swimming pool or a gym add extra value
- A peaceful neighborhood
- No construction site nearby
- In manageable proximity to their workplace
- Easy access to public transport
- Accessibility to community areas, supermarkets, pharmacies, laundry service, etc.
If the apartments or flats for rent in Dubai have these features, then they will attract the attention of the potential tenants.
Rental Pricing Trends for Dubai Apartments and Flats
Before setting the rent of the apartments make sure that you are aware of the market trends. If the rent of the apartments does not sync with the market trends, then it will be hard to convince the clients to rent the apartments in Dubai.
The rents in Dubai have some softening over the last 12 months. The areas that are most likely to see a continued decrease in rent are in the E311 corridor and the projects include:
The prime residential areas in Dubai are expected to show resilience to the decline.
The capital values of a few high-yielding and mid affordable areas are expected to experience some downward pressure because of burgeoning supply. It’s currently very much a renters market.
It is important that the shift in the market is identified and taken into consideration before any decisions about the rent of the apartments are decided. The price trends are set by the consumer demand so keeping a close eye on the consumer habits is the key to anticipating the anticipating the trends and get ahead of the market.
Metrics that play a role in rent price trends
There are apartments in Dubai that are available for rent and the costs depend on a variety of factors. Here are a few factors that are important to check before you rent a flat in Dubai:
- Area per square
- Parking space
- Access to schools, parks, and other amenities
How to Find the Right Flats for Rent in Dubai?
Dubai is a popular choice among people that are looking for lucrative career opportunities and comfortable life. The demand for residential properties is on the rise as thousands of people travel to Dubai.
There are so many options to choose from and if the choices are too overwhelming then here are a few simple steps that will allow you to rent flats in Dubai that is best suited for you.
Looking at property listings
The process of finding the right flats in Dubai starts with an online search and shortlisting a few options. You can do the research according to the criteria you prefer. You can choose the best properties in Dubai property listings. The budget is a major factor in shortlisting the properties. Clearly define the criteria so that you can find relevant listings. Variables like the type of property, several bedrooms and locations can help in shortlisting the properties.
Check out the property
After shortlisting the properties, you need to view the properties. It will give you a chance to check out all the aspects of the property and see if it is a good choice for you or not.
Making an offer to rent apartments in Dubai
After visiting the apartments, you will be able to choose the one you want and then it is time to make an offer. You can negotiate the rent and get a better offer, especially if you are willing to offer fewer cheques. If you are not ready for a long-term commitment, then you may be able to go for a short-term lease. It will give you a chance to check out the apartment and the neighborhood. If you are satisfied with the property, then you can get a new lease and if not then you can move on to another apartment without any losses.
When you are done negotiating and agree on a good rent price then you need to reserve the property. Make sure that your finances are in place because you will need a refundable security deposit to reserve the property. The security deposit is normally 5% of the annual rent. You should also have all the essential documents at hand. The documents you need include:
- Copy of passport
- Copy of resident visa
Make sure that you get the copy of the receipt after paying the security deposit.
Read and sign the tenancy agreement
To officially reserve the property, you need to sign the tenancy agreement. Never sign the agreement before reading it so that you do not miss anything important. You can hire professional help to make sure that the tenancy agreement is according to the Dubai tenancy law. After you sign the agreement you should ask for all the receipts of every payment you have made for renting an apartment in Dubai.
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