Dubai: Rent an apartment for as low as Dh28,000

  • Date: 26-Jan-2021
  • Source: Khaleej Times
  • Sector:Real Estate
  • Country:UAE
  • Who else needs to know?

Dubai: Rent an apartment for as low as Dh28,000

Al Nahda, Jumeirah Village Circle and Bur Dubai are the most affordable areas for Dubai tenants, while International City and Dubai Marina offer the best rental yields to investors.

ALSO READ:

Residents alert: Rents in Dubai to be fixed for 3 years

Tenant, landlord are bound by tenancy contract clauses

According to a new study released on Tuesday, the average annual rent for a studio in Al Nahda is around Dh28,000, while a one-bed apartment costs around Dh36,000 and two-bed around Dh47,000.

Jumeirah Village Circle also remains a popular choice for budget-conscious tenants in 2020. The average rent for a studio apartment in JVC is Dh30,000, while one-bed and two-bed units cost Dh46,000 and Dh67,000 per annum, respectively.

Data from Bayut and Dubizzle suggests that in Bur Dubai, studio, one-bed and two-bed apartments cost around Dh36,000, Dh49,000 and Dh67,000, respectively.

Investors

From an investors' perspective, International City offers an average return of 8.5 per cent. It remains the best option for investors keen on purchasing ready affordable apartments with high return on investment (RoI).

Dubai Marina has also been yielding a healthy RoI of 6.2 per cent for buyers interested in the luxury segment. In the villa