Dubai is a hot spot for expats and a global destination for tourists, professionals, and residents alike. On top of being a business and technology hub that promises many career opportunities, Dubai has become the centre of world tourism, featuring a fancy lifestyle along with entertainment and adventure. All of this attracts expats from around the world, increasing the demand for aboding options, especially for apartments for rent in Dubai.
Besides being a professional and tourist hub, Dubai is also a shining beam for investors, especially real estate investors, as the emirate is moving away from an oil-based economy. Home to several iconic structures like the Burj Khalifa, this city is a living organism that moulds to your needs. If you like upscale living, renting an apartment in Dubai means enjoying better architecture, amenities and lifestyle than Paris and New York while being cheaper than these cities.
The answer to this question is highly relative; it depends on your requirements, preferences and budget. However, no matter what, Dubai will surely put forward some options for rental flats. If you are moving into Dubai for luxury, The Palm Jumeirah, Downtown Dubai, and DIFC are the best areas. These are the most developed communities in Dubai, and the apartments here are beyond any valuation. However, if you are looking for the same level of amenities and lifestyle on a more affordable budget, you should check out Business Bay, Dubai Marina, and Sheikh Zayed Road as well.
Next comes the communities that are newer and less expensive; the apartments for rent in Citywalk and Bluewater Island are more affordable, and the flats here are primarily new. Moreover, if you prefer inland communities, you should check out Jumeirah Village Triangle and the International Media Production Zone. These communities are also relatively new hence offering low rents.
A quick tip: regardless of where you move, if you do not own a car, do not forget to check out the public transportation facilities.
According to the Mercer Cost of Living, Dubai is the 23rd most expensive out of 209 destinations but is worth every penny.
A studio flat in Dubai can cost up to 30,000 AED per annum. For 1-bed, 2-bed, and 3-bed apartments for rent in Dubai, the average rent is 50,000, 70,000, and 100,000 AED per annum, respectively. Furthermore, a 4-bed rental flat in Dubai can have a rental cost of 135,000 AED per annum.
1) What is the rent-to-own option in Dubai?
This contract is exactly as it sounds. Instead of paying rent monthly, you pay the agreed amount to the developer each month, which leads to eventually owning the property. To avail of this scheme, a down payment is required – not compulsory, but it’s there mostly.
2) Can you rent for only a month in Dubai?
Yes, short-term contracts for rent (monthly, even weekly) are available in Dubai. These are suitable for tourists, investors, and businessmen who move a lot.
3) What does a chiller-free apartment means?
A chiller-free flat for rent simply means that the AC charges are included in the price and will not be charged over the utility bill every month.
4) How much should you spend on the rent in Dubai?
At MAXIMUM, allocate 30% of your income to your rent budget. For example, if your monthly salary is 40,000 AED, 9000 AED should be your maximum budget for rent.
5) Is renting an apartment in Dubai cheaper than owning one?
Yes, the overall cost of renting is lower than ownership in Dubai. Even if your mortgage is very low, you will be spending money on things you do not have to spend on as a renter.