Expect Rental Hike In These Dubai Areas In 2018

 

Rental Increase

When your tenancy contract is about to expire and your landlord reminds you of a rental increase. What would you do? In an average house, a yearly rental increase is accepted due to normal inflationary trends. Having said that, Dubai has created defined regulations that enable whether a landlord can request a rental increase or not.

According to the law, the landlord has to give a 90-day notice before he will impose rental increase that follows the RERA rental index. If there’s no notice being served, the landlord cannot raise any rent at all. The regulation is used to determine whether a landlord is entitled to hike your rental and to identify correct percentage if there’s a need for an increase.

There are some areas in Dubai where rents have fallen but Dubai Land Department forecast that rents to the areas below will increase in 2018.

Arjan

Arjan offers a variety of things to do for its residents, it will be the house of several commercial towers, residential complexes, and entertainment facilities. Located within the Dubai Land area, the community features open-air amphitheater, entertainment attractions, and major locations for big events in Dubai.

Arjan’s goal is to create a community that is tourist-friendly, leading leisure destination, and provide quality residential areas for all. Due to massive development in this area, apartments for rent is said to have increased in 2018. From Dhs 52,500 rental price of a one bedroom apartment this year to a Dhs 64,000 average yearly rental price in 2018. A two bedroom apartment will have an average annual rental price of Dhs 87,000 next year (2018) compared to Dhs 72,500 of this year.

Downtown Dubai

Who else doesn’t want to live in Downtown Dubai area? A fascinating location where everyone is dreaming to settle and experience the upscale lifestyle. This location is set right next to the city’s business district, famous landmarks, gigantic shopping malls, and has an easy access to Dubai's major highways. These are just a few of many reasons why expats love to live in this area but let me give you what’s on the other side of the coin - rental price?

In a report conducted by fam properties, there will be an impending rental hike coming up next year. Expect a 10% increase for a studio apartment in Downtown in 2018, from Dhs 70,000 this year up to Dhs 77,000 average rental price. A one bedroom apartment will cost you Dhs 111,000 in 2018 from its current rental price of Dhs 92,500.

International City

This location offers one of the most affordable living in Dubai. The International City is the home to budget-friendly apartments, modern business spaces, leisure facilities, and various essential community stores. Aside from being one of the flourishing areas in Dubai, “affordability” can also be a reason why they say that this location is a great place to reside or set up a business.

However, due to som varying factors, apartments for rent in International City is set to rise next year, 2018. If you are planning to rent a studio apartment, the average yearly rental price for 2018 is Dhs 33,000 from its current Dhs 30,000. A one bedroom apartment will get 15% increase in 2018 amounting to Dhs 43,000 from its current rental price of Dhs 37,500.

Dubai Sports City

Moving to Dubai Sports City? If you are looking for a decent apartment for rent in Dubai, this location can be a good choice for you. This world-class community features numerous studio, 1, 2, and 3 bedrooms apartments up to expansive penthouses and beautiful villas. Dubai Sports City apartments for rent offer fantastic value for money compared to similar sized units in some key areas.

However, if you or your family are planning to move to this location you must know that rental prices for some units might increase in 2018. Just to give you a heads up, the average annual rental price for a three bedroom apartment will have 14% increase amounting to Dhs 137,000 next year compared to its current Dhs 120,000.

Dubailand Residence Complex

This location offers one of the most affordable residential living in the city. Its budget-friendly apartments for rent is considered as one of its advantages to attract more residents. Situated nearby Skycourts Towers, the location is close to Mohammed Bin Zayed Road, Al Ain Road, 15 minutes away from Downtown Dubai and easy access to the other UAE Emirates.

Dubailand Residence Complex is located in the suburbs of Dubai, the location offers value for money to those who want to rent or purchase a property here. However, apartments for rent in this location will increase in 2018 due to varying factors. If you are going to rent a studio apartment, the average yearly rental price will cost you Dhs 39,000 compared to its current rent of Dhs 35,000.

Jumeirah Lakes Towers

What’s going on in JLT? If you are looking for an apartment for rent in this location now is the right time to do it. We all know that JLT is one of the best places in Dubai that offers great residential apartments, offices, and hotels. As a result, more and more expats are considering this place as their location of choice whether to live or set up a business.

So why did I say that now is the right time? Apartments for rent in Jumeirah Lakes Towers is set to increase next year, 2018. The average annual rental price of a studio apartment in JLT will cost you around Dhs 61,000 next year compared to its current amount of Dhs 55,000.

Queue Point - Dubai Land

This location offers multiple layouts of apartments for rent in Dubai, this can be a good choice of place for you and your family to reside. The community highlights low rise building, modern amenities suitable for all your daily needs, and access roads towards major districts of Dubai.

However, Queue Point is predicted to have a rental increase in 2018. In our recent report, expect an 11% increase for a two bedroom apartments amounting to Dhs 72,000 next year, 2018 compared to its current price of Dhs 65,000.  

Jumeirah Village

Jumeirah Village has some of the most economical apartments for rent in Dubai. You can choose between its two main communities: Jumeirah Village Circle and Jumeirah Village Triangle.  Jumeirah Village Triangle is a residential area features smaller townhomes with large garden areas while Jumeirah Village Circle is a community with larger villas.

In our report, this area is affected by the nearing rental increase. The average yearly rental of a one bedroom apartment will cost you Dhs 65,500 in 2018 compared to its current price of Dhs 60,000. A three bedroom apartment will have 9% increase next year amounting to Dhs 123,000 compared to its current rent amount of Dhs 112,500. The average yearly rental price of a two bedroom villa in Jumeirah Village Circle will be around Dhs 140,000 in 2018 from its current Dhs 130,000.

Jumeirah Beach Residence

If you are into luxurious waterfront apartments, Jumeirah Beach Residence is the rightful place for you. Considered to be one of the luxurious places to reside in Dubai as it offers plenty of options for its residents. Jumeirah Beach Residence features world-class amenities such as international restaurant chains, entertainment areas, shopping centres, and famous landmarks within reach.

Just to give you a heads up, this location is expected to have a rental price increase in 2018. The average yearly rental price of a studio apartment in this location will cost you around Dhs 80,000 in 2018 compared to its current price of Dhs 75,000. A one bedroom apartment rental price will cost you Dhs 105,500 next year from its current Dhs 97,500.

Barsha Heights - Tecom

Barsha Heights formerly known as Tecom offers a wide range of apartments for rents in Dubai. Expats consider this location as one of their go-to places to reside because of its relatively affordable rental price. Situated between Al Barsha and The Greens opposite Media City, Barsha heights provides a vibrant community and easy access to Dubai’s prime location.

Due to some varying factors, rental prices in this area is set to hike next year. The average annual rental price of a studio apartment will be around Dhs 56,000 in 2018 compared to its current price of Dhs 52,500.



  •  Vishal Kanoongo   

    (0) (0)
    What is the Rental Increase in Dubai Silicon Oasis
  •  Mike   

    (0) (0)
    Will be appreciated , if you will revert back with Unit prices Are vise (suppose to interested in buying ) the property . Rgds/ Mike , E-mail; [email protected]
  •  Umar Khan    Replied to: Mike

    (0) (0)
    Hi Mike, thank you for your comment. Do you need the prices as per no. of bed in the above areas? Or If you're looking for the prices in any specific area, we can help you out too.
  •  Umar Khan    Replied to: Vishal Kanoongo

    (1) (0)
    Thank you for your comment Mr. Vishal. Dubai Silicon Oasis will witness 7% increase for 2-bed apartments whereas the 1-bed rent will increase up to 3%.

Leave a Comment

Leave a comment

Subscribe to fäm Properties

Subscribe to fäm Properties

Subscribe to stay up to date with the latest market news.

Featured Posts

  • Tenant’s Rights: Can a Landlord Increase Your Rent in Dubai?


    58k
  • The Hidden Cost of Buying a Property in Dubai


    57k
  • Title Deed Verification in Dubai: Ensuring Property Ownership Authenticity


    42k
  • Top 10 Best Places to Live in Dubai


    38k
  • Mega-Projects: These 11 Man-made Islands In Dubai Will Surely Blow Your Mind


    38k