According to the latest Propertyfinder Trends report, which tracks asking price data over the past 24 months, apartment rents in Dubai have fallen by 5.8% over the past six months.
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And while villa rents in Dubai have dropped by 20.3% over the past two years, the rate of decline has actually slowed. Overall, villas are only 1.9% cheaper than they were at the beginning of 2018, and some areas have actually seen price increases.
So where is the best place to rent in Dubai if you’re looking to secure a deal? Well, we’ve poured over the Propertyfinder Trends report and we’ve found the areas of Dubai that have seen the most drastic drops in rental prices over the past six months. If you’re looking to save money, here’s where you should be living.
Apartments in Jumeirah Village Triangle
Apartments in JVT are going for an absolute steal these days, with rents having dropped by 22.6% over the past two years. And the area has remained cheap for renters in 2018, too, with rental prices 8.9% cheaper now than they were six months ago.
Villas on The Palm Jumeirah
Okay, you’re still going to have to pay a lot in absolute terms if you want to live in a villa on the Palm, but for those who can afford it, prices are looking great. Rents for villas in this area have dropped by 11.1% over the past six months, and are down 28.1% compared to 2016.
Apartments in Dubai Sports City
Dubai Sports City has always been an affordable place to live, and it looks like that trend is set to continue for a while. Apartment rentals are down 6.9% over the last six months, meaning there are loads of great options for you to choose from that won’t break the bank.
Villas in Umm Suqeim
Yep, it’s ‘old Dubai’, and it’s never been more affordable. While villa rental rates have pretty much bottomed out in this part of Dubai, they are still 5.5% cheaper than they were six months ago. If you want a great deal on one of these villas, now’s the time to move because prices likely won’t go much lower than they are now.
Apartments in Al Nahda
Al Nahda’s always been a popular area for apartment rentals, but that hasn’t stopped prices from dropping significantly. In 2018 alone, they’ve come down by 6.7%, and prices-per-square-foot are among the lowest of any area in Dubai.
Villas in Jumeirah Village Circle
As is the case with apartments in JVC, there are some serious deals to be had on villas in the area. Sure, most are priced at the premium end of the market, so you’ll still have to be reasonably well off to be able to afford one. But if you can, you can take comfort in the fact that rental prices have dropped by 5.4% over the last six months, and are over 20% cheaper than they were two years ago.
Apartments in The Greens
The Greens is a tried-and-tested area. It’s in an amazing location if you work near Dubai Marina or Dubai Media City, and all of the infrastructure and landscaping is properly finished and well maintained. That means prices don’t fluctuate hugely, but if you’re interested in living there, you can now pick an apartment for 6.3% less than it cost six months ago.
Villas in Jumeirah
As is the case in Umm Suqeim, rents for villas in Jumeirah have dropped massively over the last two years, and they’re getting more reasonable still. Compared to six months ago, prices have dropped by an average of 5.4%. There’s a massive range of villas – from affordable to out-of-this-world expensive – but the area as a whole is definitely worth a look if you’re looking to get a lot of house for your money.