In the past, several ‘post box’ entities operated out of Mauritius only to secure the tax benefit in India
business2 days ago
Despite the average increase in rental prices, certain areas in Dubai will continue to attract tenants because of low rents and high demand in the market following strong economic activity in the emirate.
According to Zoom Property Insights, the average rent of villas in Dubai crossed Dh268,000 while apartment rents hit Dh90,000 last year. It is expected that a similar trend will continue this year, the Insights data says.
Ata Shobeiry, CEO of Zoom Property, believes that the high influx of expatriates moving to Dubai is a major factor that is driving the rental market.
“The number of people shifting their base in Dubai to seek employment and entrepreneurship along with an upscale lifestyle is rising with every passing day. This has led to demand for rental properties and a subsequent rise in the average rent. Still, there are some areas where tenants can find affordable housing options,” he said.
According to the Zoom Property Insights, International City is the most affordable area to rent properties in Dubai, with average rent falling between Dh19,000 and Dh55,000.
Dubai Silicon Oasis is another area renters prefer for low rents as the average rent here ranges from Dh25,000 to Dh52,000 and Dh32,000 and Dh68,000 for studios and 1-bedroom apartments, respectively.
Bur Dubai, with an average rent of Dh20,000 – Dh60,000 for studios and Dh36,000 – Dh30,000 for 1-bed apartments is another popular area for affordable housing in Dubai.
ALSO READ:
In the past, several ‘post box’ entities operated out of Mauritius only to secure the tax benefit in India
business2 days ago
77% wouldn’t engage with a brand using AI, for at least some services
business2 days ago
National Tourism Strategy 2031 aims to increase the contribution of the UAE tourism sector to the national GDP to Dh450 billion
business3 days ago
Customer deposits and Islamic customer deposits increased by 2.5% to reach Dh39.5 billion
business3 days ago
Annual rents in Dubai are usually paid in two, four or six instalments via post-dated cheques
business3 days ago
Saudi Arabia has begun to explore extracting lithium from sea water
business4 days ago
RPM reported net profit of Dh49.39 million during 2023
business4 days ago
Both parties must be taxable; or become taxable as a result of the transfer
business4 days ago