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Rent an apartment for as low as Dh10,000 in this emirate

Dubai - Why Northern Emirates offer best bang for the buck for tenants.

Rents of residential properties have been declining consistently across the UAE over the last few years largely due to a massive oversupply in Abu Dhabi and Dubai, the country’s largest and most-populous emirates, respectively.

The UAE’s Northern Emirates is not immune from the ripple effect and rents have declined in each emirate over the years.

Real estate consultancy Cavendish Maxwell said on a quarterly basis, rent declines were more pronounced in some of the northern emirates than others.

For instance, rents in Sharjah declined over the previous quarter, but in Ras Al Khaimah (RAK) rents were largely unchanged during the same period.

Data showed that average residential rentals are the lowest in Umm Al Quwain, RAK and Ajman.

Tenants can rent studio apartments for as low as Dh10,000 in Sharjah.

As of the fourth quarter (Q4) of the financial year (FY) 2020, the annual rent in Ajman ranged from Dh12,000 for studio apartments to Dh35,000 for three-bedroom flats.

In Fujairah, the annual rent for apartments ranged from Dh13,000 to 28,000 for studio apartments to between Dh28,000 and Dh36,000 for three-bedroom flats, based on their location, specification, and condition.

In Umm Al Quwain, the annual rent ranged from Dh12,000 for studio apartments to Dh27,000 for a three-bedroom flat.

In RAK, a studio apartment can be rented for Dh18,000 and up to Dh54,000 for a three-bedroom flat on an annual basis.

The following is the list of average rentals for a studio, one, two and three-bedroom apartments in the northern emirates, according to Cavendish Maxwell.

Sharjah

Studio: Dh13,000

1-bedroom: Dh24,000

2-bedroom: Dh24,000

3-bedroom: Dh30,000

Ajman

Studio: Dh12,000

1-bedroom: Dh18,000

2-bedroom: Dh24,000

3-bedroom: Dh30,000

RAK

Studio: Dh12,000

1-bedroom: Dh17,0000

2-bedroom: Dh23,000

3-bedroom: Dh28,000

Fujairah

Studio: Dh14,000

1-bedroom: Dh20,000

2-bedroom: Dh26,000

3-bedroom: Dh30,000

Umm Al Quwain

Studio: Dh12,000

1-bedroom: Dh16,000

2-bedroom: Dh22,000

3-bedroom: Dh27,000

* All rates are annual

-waheedabbas@khaleejtimes.com