Connectivity and affordability are some of the key things people look for when renting a home in Dubai, and with a booming residential portfolio in tow, the city is not short on places to live.
This year, Dubai’s property market recorded its strongest start in more than a decade.
Property prices and rents have increased on the back of the emirate’s strong post-Covid-19 recovery and the success of Expo 2020 Dubai.
As a result, market prices for villas in communities such as Dubai Hills and Damac Hills have risen by as much as 50 per cent in the past 12 months.
Landlords with properties in popular districts such as Dubai Marina and Jumeirah Lakes Towers have also hiked their annual rents, despite some being in violation of government rent control rules.
As such, several new neighbourhoods located further out from the city centre are set to whet the appetites of those looking to set down roots in more pocket-friendly areas.
The 15-building complex at Expo Village, which will welcome tenants in the next few months, and Garden View Villas in Jebel Ali, which boasts more laid-back living, are just two areas in Dubai competitively priced in a bid to lure tenants.
The National spoke to three real estate agents to find out where they think will prove popular with renters this year.
Arjan is a mixed-use master-planned community in Dubailand. It has become an increasingly attractive tenant option due to its affordability and easy access to a number of key highways in Dubai, including Sheikh Mohamed Bin Zayed Road.
Arjan boasts 13 nursery and school options close by, as well as Parkview Mediclinic Hospital, Neuro-Spinal Hospital and Dubai Science Park. It is also home to Dubai Miracle Garden and Dubai Butterfly Garden.
Hannah Worrall, a sales consultant at Chestertons Mena, said it is one of her key areas to watch in 2022 as people look to move away from areas that are experiencing a sharp increase in rents, such as Dubai Marina.
Located between Umm Suqeim and Hessa Street, the area features its own My City Centre Mall, with Dubai Hills Mall, Dubai Hills Estate and Circle Mall in Jumeirah Village Circle all within easy reach.
“The area lends itself to a young professional demographic, with tenants often employed within the immediate locality,” said Ms Worrall.
“Consequently, Arjan comprises a range of recently completed, well-designed and modern apartment buildings available for tenants on conventional and short-term leases.”
Over the past two years, Ms Worrall said she has seen a clear rise in the number of tenants working from home and requiring more flexible living arrangements, such as annual leases paid through monthly cheques, furnished options and short-term leases with no annual commitment.
Average annual rents:
Studio: Dh23,000 to Dh45,000
One-bed: Dh32,000 to Dh70,000
Two-bed: Dh47,000 to Dh90,000
*prices vary depending on size, views, grade of building and furnished status
In the heart of Jumeirah 1, a brand new selection of one to four-bedroom apartments have been developed, offering new tenants opportunities to experience beachfront living.
Thomas Poulson, leasing director for haus & haus real estate agency, said the unique architecture and location are proving popular.
“The marina and low-rise apartment buildings are designed with a Mediterranean port town concept, which is a first in Dubai, and will attract tenants wanting to live in a more tranquil setting as opposed to the hustle and bustle of a high-rise tower community,” he said.
“The developer is Meraas and they are renowned for delivering high-quality finishing, as well as developing fantastic communities with an abundance of amenities for residents.
“The typical demographic living here will be professionals, likely singletons, young couples or small families. Because of the apartment set up, it would not be suited towards large families.”
In close proximity to offices in Downtown Dubai and DIFC, the area is also within walking distance of La Mer, which boasts shops, restaurants and a beach.
Average annual rents:
One bed: Dh100,000-plus
Two-bed: Dh150,000 to Dh170,000
Three-bed: Dh250,000 to Dh280,000
Four-bed: Dh300,000 to Dh400,000
*prices vary depending on size, views and furnished status
Where? Downtown Dubai
Who? Retirees, young professionals, couples
Downtown Dubai has always been a favourite rental destination in the city, and this year the sentiment is no different.
Lewis Allsopp, chief executive of Allsopp & Allsopp, said Downtown Dubai was the agency’s second most-popular area for rentals in Q1.
“The community has absolutely everything to offer; the world’s largest mall, the world’s tallest building, Dubai fountains, Dubai opera house and Souk Al Bahar,” he said.
“From every spot in Downtown, there is no doubt that you are in the heart of Dubai.
“Boulevard drive is special in itself with spectacular views of iconic buildings and looks even more impressive in the evening when it is lit up.”
He said the most popular towers in Downtown Dubai for rentals and the most reasonably priced right now are South Ridge towers 1-6 and Lofts East, Central and West.
An area of town that attracts tenants with a higher rental budget, Mr Allsopp said a one-bedroom apartment in any of the mentioned towers starts from about Dh90,000, and will likely rise throughout the year.
“The clientele Downtown attracts is varied and lots of different nationalities want to rent a property there including Lebanese, Indian, Australian, Italian, French and English,” he said.
“A lot of Downtown tenants are managing consultants or in financial-related industries.”
Average annual rents:
One-bed: Dh90,000 to Dh95,000
Two-bed: Dh120,000 to Dh140,000
Three-bed: Dh170,000 to Dh200,000
This article was originally published in The National News UAE