Rents in Dubai have consistently gone down over the last few years, dropping at mid-to-high single-digit percentage, due to oversupply in the market. Developers have, therefore, pulled back on new launches over the past year to help the local real estate market stabilise. Of late, rentals and prices in some areas have seen an uptick.
Though demand for villas and townhouses has been on the rise since the pandemic, studio apartments are also seeing fairly good demand in the emirate.
Below is a guide for people looking for economical or luxurious studio apartments in Dubai. The data is based on property consultancy Asteco’s Q3 report and ranges from the most economical areas to the costliest places in town:
• International City and Deira are the best places if you’re looking for an economical studio apartment in the emirate. People can quickly and easily access New Dubai areas from International City, making it a popular choice for budget-conscious expatriates. Rentals start from Dh15,000 per year and go up to Dh25,000 in International City. In Deira, rentals start from Dh15,000 and go as high as Dh38,000.
• Dubai Sports City also targets budget-conscious residents, where rents range from Dh18,000 to Dh27,500 per year.
• Rents in Discovery Gardens and Jumeirah Village start from Dh20,000 and go up to Dh37,500 a year.
Mid to high-end studio apartment
• A studio apartment in Jumeirah Lake Towers (JLT) costs between Dh25,000 to Dh42,500 per annum.
• Rentals for a studio in Dubai Marina start from Dh27,500 and cost up to Dh55,000 a year.
• Tenants can find a studio flat in Business Bay, which is centrally located between Old and New Dubai, for as low as Dh30,000. It goes up to Dh47,500.
• Jumeirah Beach Residence is the costliest place in the mid to high-end segment, where a studio rental costs between Dh45,000 to Dh55,000 a year.
Luxury studio apartments
• In this high-end segment, Downtown is the most economical area for studios where rents range between Dh30,000 to Dh65,000.
• Rentals for studio apartments at Sheikh Zayed Road range between Dh45,000 to Dh55,000.
• Meanwhile, rents in DIFC and Palm Jumeirah range between Dh45,000 to Dh65,000 per annum for a studio apartment.
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