Top 5 Cheapest Areas to Rent or Buy in Dubai
Despite a reputation for over-the-top luxury, those who call Dubai ‘home’ often have more modest needs. Propertyfinder Group rounded up the top 5 least expensive communities in Dubai to rent or buy a villa or apartment, so the cash-flow can go toward brunches and epic vacations rather than the rent or mortgage.
- Jumeirah Village Circle and Al Furjan, the two cheapest areas to rent a villa in Dubai, saw some of the steepest declines in price (-11.8% and -13.9%, respectively), over a six month period between April and October 2017, Propertyfinder Trends data shows.
- Dubai villa rents have seen the biggest decline in asking prices of all property types, according to the report, with several communities seeing double digit declines.
- Demand in affordable areas is rising, as are handovers. This means prices are going down as new stock becomes available, and Dubai residents are getting a bargain to boot.
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Dubai Land appears several times, and is worth a look as a family-friendly option with lots of brand new units to its name. The area saw some 2,500 handovers in 2017. Dubai Silicon Oasis, Discovery Gardens, and Al Furjan are a similar story: a high rate of handovers, central locations with short commutes, and family-friendly.
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