In recent years the real estate rental rates have increased drastically. But in Dubai only one community saw decline in rental rates as compared to previous years. Discovery Gardens situated in Sheikh Zayed Road has emerged as one of the most affordable community for the tenants. This community saw around 2 percent fall in rental rates as compared to 2013 rates.
It has been observed that the rental rates of one bed room unit was stable at Dh70,000 per annum but the rate of two bedroom unite saw a decline in rates. The rates dropped from Dh83, 000 pa to Dh80, 000 pa.
Jumeirah Beach Residence (JBR) and Jumeirah Lakes Towers (JLT) were amongst those posh communities that saw highest rental increase. The rental rates in these communities rose up to 15 percent as compared to last year. In 2013, the rental rates in Jumeirah Beach Residence for one bed room unit jumped from Dh108, 000 pa to Dh118, 000 pa.
The rental rates of two bed room unit rose to Dh163,000 pa from Dh135,000 pa while the rental rates of three bed room unite in these community rose to Dh200,000 pa from Dh175,000 pa.
Rental rates in Business Bay area saw a steady rise of three percent every year with one bed room unit costing up to Dh93, 000 pa from Dh90, 000 pa. The rental rates of two bed room unit rose from Dh130,000 pa to Dh135,000 pa and three bed room unit saw rents rising from Dh178,000 pa to Dh180,000 pa.
The rental rates in International City also saw a steep inclination in rates with one bed room unit costing up to Dh46,000 pa from Dh43,000 pa , Two bed room unit costing up to Dh65,000 pa from Dh63,000 pa. However the rates were found to be 33 percent lower from the year 2008.
Since 2008, the rental rates in Dubai Marina and Downtown Duba are found to be 10-14 percent lower.