Property Prices In The Emirate Are Continuing To Soar As The Market Expands Rapidly In 2022.
Certain parts of Dubai will continue to draw renters despite the overall increase in rental prices due to low rentals and high market demand because of the emirate’s robust economic growth.
In Dubai, the average rent for a villa last year was Dh268000. While the average rent for an apartment reached Dh90000. According to the Insights data, a similar trend is anticipated to continue this year.
The huge number of foreigners relocating to Dubai. According to Ata Shobeiry, CEO of Zoom Property, is one of the main factors pushing the rental market.
The number of people relocating to Dubai to pursue jobs, entrepreneurship, and an upmarket lifestyle is increasing daily. Due to increased demand for rental units, the average rent has increased as a result. Tenants can still find affordable housing options in some places, he added.
Apartment Rentals in Budget-Friendly Locations
The cheapest neighborhood in Dubai to rent a home is International City. According to Zoom Property Insights, where the average rent is between Dh19000 and Dh55000.
Another neighborhood with affordable rent is Dubai Silicon Oasis, where the average rent for studios and one-bedroom flats is between Dh32,000 and Dh68,000 and Dh25,000 to Dh52,000, respectively.
Bur Dubai is another well-liked neighborhood for cheap housing in Dubai. With average rents ranging from Dh20000 to Dh60000 for studios and Dh36000 to Dh30000 for 1-bed apartments.