The real estate market in Dubai is flourishing with more demand, there has also been slight variation in rental prices depending on locations. As per the article published on Gulf News under Property section: Here is a quick look at the rental changes during the fourth quarter of 2014 and the prevailing rates for Dubai apartments in popular locations today. This report will also give a better insight about which areas offer cheaper or pricier rents today.
Rents for all types of bedrooms from one-bedroom to two-bedroom flats increased up to 3 per cent during the Q4 of 2013 and Q4 of 2014. The rental cost One-bedroom apartments are now Dh93,000 to rent, up from Dh90,000 in 2013. A two-bedroom flat now usually costs Dh135,000, up from Dh130,000, whereas a three-bedroom apartment has increased from Dh178,000 to Dh180,000.
Rents in this neighborhood close to Ibn Battuta Mall have witnessed a slight decrease between 2013 and 2014. Prices for one-bedroom flats have remained unchanged, at Dh70,000, while two-bedroom flats have dropped from Dh83,000 to Dh80,000. No data available on three bedroom rent rate.
One of the highly sought-after locations, Downtown Dubai has registered a major 10 per cent increase in rents from 2013 to 2014, with one-bedroom apartments increased from Dh98,000 to Dh118,000; two-bedroom, from Dh160,000 to Dh170,000 and three-bedroom, from Dh228,000 to Dh245,000.
Tenants looking for a one-bedroom flat near the marina can expect to pay Dh113,000 a year on average, up from Dh105,000 last year. The rent has increased up to 14 percent between 2013 to 2014. Two-bedroom apartments now carry a price tag of Dh158,000, about Dh18,000 more in contrast to 2013. Three-bedroom flats has increased from Dh178,000 to Dh210,000.
Apartment rents in the Greens community have gone up by 7 per cent on average, The slight reduction is for one bedroom flats that is Dh83,000, down from Dh85,000 in 2013. Two-bedroom flats have witnessed a major increase, from Dh135,000 to Dh 148,000, as well as three-bedroom apartments, now costing Dh 173,000, up from Dh 155,000 in 2013.
Jumeirah Beach Residence:
One of the chief locations witnessing the highest increase at 15 per cent, Jumeirah Beach Residence now has one-bedroom apartments for Dh118,000 a year, up from Dh108,000 in 2013. Two-bedroom apartments have increased from Dh135,000 to Dh163,000, whereas three-bedroom flats have ticked up to Dh200,000, up from Dh175,000.
Jumeirah Lakes Towers:
Rents in this prime locality, which is also well known for its travel facility and nearness to the Dubai metro have witness an increase of 15 per cent. One-bedroom apartments have ticked up from Dh83,000 to Dh90,000. Rates for two-bedroom flats have rised from Dh110,000 to Dh133,000, whereas the rates for three-bedroom apartments are pegged at Dh168,000, about Dh20,000 more compared to 2013.
Again a slight decrease in rents for one-bedroom apartments at Jumeirah Village have gone down from Dh70,000 to Dh 65,000, whereas two-bedroom flats have increased from Dh95,000 to Dh103,000 and three-bedroom flats from Dh 120,000 to Dh130,000.
Sheikh Zayed Road:
The rent change between 2013 and 2014 is 5 percent. The one-bedroom flat will cost around Dh113,000 a year, up from Dh98,000 in 2013. Rates for two-bedroom flats have remained same at Dh 148,000, whereas three-bedroom flats have ticked up from Dh 195,000 to Dh200,000.
The rental change witnessed between 2013 to 2014 is zero. Overall, rents have registered zero increase. The rent for one-bedroom apartment now costs about Dh3,000 less, with rates falling from Dh68,000 to Dh65,000. Two-bedroom flats, however, have gone up from Dh85,000 to Dh90,000, while three-bedroom apartments now cost slightly cheaper, from Dh135,000 to Dh133,000.
Rent change between 2013 and 2014 was 1%. This well known locality for its closeness to dragon mart and for the flats being nearly at a reasonable cost. Across all types of bedrooms, rents have witnessed a minor increase, at one per cent. One-bedroom flats have gone up from Dh43,000 to Dh46,000, while two-bedroom apartments have dropped from Dh65,000 to Dh63,000.
Majority of the chief locations in Dubai has witnessed an increase in rental cost and slight decline in few cases. As the Dubai Realty is thriving further, this will be your right time to invest in the property of your dreams which will promise positive rental returns.
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