According to the latest Betterhomes research, rental costs in Dubai have increased sharply in 2022, with villa rents rising by 61% from 2021 to 2022 and apartment rents rising by 25%.
According to Mercer’s most recent Cost of Living Index, out of more than 220 locations, Dubai is the 31st most expensive place in the world, more expensive than Miami, Paris, Milan, and Munich.
Here are some of the pockets providing cost-effective staying options in the UAE city.
The information is based on data provided by UAE-based real estate consultancy Asteco.
International City
International City, a collection of low-rise, regionally themed structures covering an area of more than 800 hectares, takes the top rank. International City, created by Nakheel, is the most affordable choice for a tenant on a tight budget.
Less than half as much (USD 9,500) a year of rent for a one-bedroom apartment may be found in International City compared to Business Bay.
The neighbourhood is close to Dragon Mart and about 14 kilometres from Dubai Mall. The location is best suited for renters, who work in the Academic City, Dubai Outsource Zone, and other places, apart from owning vehicles. While the location lacks direct access to the Dubai Metro, commuters can use a bus that runs from Rashidiya Bus Station to Al Warsan 3.
Discovery Gardens
Discovery Gardens is the neighbourhood in Dubai with the second-cheapest rent. It is a residential neighbourhood with low-rise structures scattered throughout trees and open areas. It is reachable through the Dubai Metro.
The Dubai Expo 2020 site and Dubai Marina are only a few stops away, making it one of the finest money-saving options for tenants who don’t have cars.
One-bedroom apartment rents can run a little over AED 40,00 yearly, which is around half the cost of renting in Dubai Marina, The Greens, and The Views.
Those who work in Jebel Ali, Dubai Marina, Dubai Media City/Internet City, Tecom, Expo City Dubai (previously Expo 2020), Dubai Multimedia Commodities Center, or Jumeirah Lakes Towers can choose this location.
Deira
The oldest commercial sector in the emirate, Deira, is the third-cheapest area. A one-bedroom apartment in Deira costs about AED 45,000 per year, which is less than half the average rental cost in Sheikh Zayed Road and Jumeirah Beach Residence (JBR).
Due to its spice and gold souks, Deira is a popular tourist destination. It is accessible via bus routes and the Dubai Metro, which has stops at Union, Rigga, and Deira City Centre.
This place is most suitable for residents working in the DIFC, Dubai World Trade Center, Dubai Airport Free Zone, Sheikh Zayed Road, Al Diyafah, Karama, Port Saeed, Downtown Dubai, and surrounding regions.
Sports City
Dubai Sports City has residences, villas, and leisure and recreational facilities and is ranked fourth. The International Cricket Stadium is located in the neighbourhood, about 14 kilometres from the Mall of the Emirates and popular with families, singles, and sports enthusiasts.
But like International City, this neighbourhood works best for renters with a car. The average annual rent for a one-bedroom apartment in Dubai Sports City is less than 50,000 AED, significantly less than the cost of similar apartments on JBR and Sheikh Zayed Road.
For staying purposes, the Greens/Views, Al Barsha, Dubai Internet City, Dubai Media City, Dubai Investments Park, Dubai Marina, JLT, and DMCC employees are the best candidates.
Triangle In Jumeirah Village
Apartment buildings, little villas, and townhouses may be found in this gated community on Dubai’s northern edge. Palm Jumeirah can be reached by car in about 22 minutes, and the Dubai World Trade Center and Dubai International Airport can be reached in 35 minutes.
According to Bayut, it contains more than nine community parks, five tennis courts, a few basketball courts, and more than 13,000 homes. In addition, residents have immediate access to Sheikh Mohammed Bin Zayed Road and Al Khail Road (E44) (E311).
One-bedroom apartments typically cost AED 47,500. Those working in the Media City, Dubai Marina, Jumeirah Lakes Towers/DMCC, Dubai Internet City, TECOM, Dubai Production City, and Dubai Investments Park can stay here.