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Is your rental contract up for renewal? Want a new place with a spruced up look or just a change of scene? This is the time to get your strategy sorted – the rents are up and rising, even if they haven’t quite hit the 2014-15 peaks as yet.
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Being prudent calls for market research – according to a report by Asteco, Jumeirah Village and Sports City still make for pocket-friendly options. A one-bedroom apartment in Sports City rents for an average Dh40,000 a year, and unchanged from the 2020 rates. Rents at that location had been as high as Dh74,000 in 2015.
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The key, say experts, is to keep an eye on construction – if more buildings are coming up, it stands to reason that the rents will stay down. Same is the case with Jumeirah Village, where one-bedroom leases are being signed for Dh40,000 on average, according to a new market update from Asteco, the property services company.
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Downtown Dubai is one of the most iconic neighbourhoods for a reason — it’s a bustling area that’s filled with things to do and see. It’s a tourist favourite but is also a great place to live. Right in the same area is the Burj Khalifa, The Dubai Fountain and The Dubai Mall. There are also loads of restaurants and shops to visit. One-bedroom apartment rentals also went up up to Dh,75,000 about Dh 2000 higher and two-bedroom rental to Dhs95000, about Dh 5000 than last year.
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Palm Jumeirah, this engineering marvel is the epitome of luxury. On this stunning island, enjoy high-end hotels and beach clubs to lavish cuisines Whatever your mood may make you crave, you'll find it here. The area features an urban mix of shore line apartments, opulent five-star resorts, hip eateries, and trendy beach clubs. Average rent here for a one-bedroom apartment hovers around Dh95,000 per annum, while Two-bed apartments are going for Dh 140,000.
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DIFC preferred by many senior level business executives and managers, DIFC is a rental hotspot. Preferred for its proximity to areas including Downtown Dubai, Business Bay and old Dubai; it also has a dedicated metro station. The average annual rent for a one-bedroom here is Dh75000. Tenants who may choose to rent a three-bedroom apartment can now expect an increase from last year and can cost anywhere between Dh160,000 and Dh165,000.
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Apartments along Shaikh Zayed Road also cost a premium, with rates ranging between Dh65,000 and Dh105,000 a year. Residential units along the main thoroughfare are some of the most popular today, especially since they are within walking distance to the Dubai Metro.
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Business Bay neighborhood provides a wide range of apartment options as well as its own metro station. It's a desirable site, being close to Downtown and behind Sheikh Zayed Road. The skyscrapers here have an excellent sea views thanks to the expansion of the Dubai Canal. Average rent for a one-bedroom apartment hovers around Dh60,000 per annum while a two-bedroom rental can cost upto Dh 90,000.
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Dubai Marina was voted the most Instagrammable superyacht marina by comparethemarket.com recently, based on Instagram data. Taking the crown, the area is known for being a picturesque spot of skyscrapers, blue waters, and swanky restaurants. Adding to the attractiveness of this swanky Dubai gem is the latest new opening – the record-breaking Ain Dubai. * A two-bedroom in Dubai Marina — Dh95000-Dh100,000 or a one-bedroom for Dh65000, can find some good options here.
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The Greens, this "centrally located" and established community offers mid-rise residential apartment blocks with direct access to main roads, shops, food outlets and much more . One-bedroom flats cost between Dh64,000 and Dh65,000 a year, while a three bedroom apartment rental cost can vary between Dh100,000 to Dh105,000. However, don't expect ready furnishings and convenient Metro access. Only the new flats are equipped with dishwashers and built-in stoves and while there are buses plying around the community, Metro commuters have to go to Emaar Business Park. Nevertheless, there are still plenty of money-saving opportunities. The area is only a couple of kilometres away from Dubai's main attractions, parks and beaches, and tenants have access to facilities like gyms, community pools and party halls.
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Jumeira Beach Residence is the place to be if you're an active family wishing to relocate near ocean waters. It's home to the Dubai Tram, The Beach, JBR Walk, Skydive Dubai, and much more. A bustling neighborhood with plenty of outdoor activities, ideal for beach-loving families. Residents looking to rent a one-bedroom for anywhere between Dh72,000 and Dh 75,000, or a two-bedroom for Dh96,000 to Dh98,000,
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The walkways in JLT have expanded to accommodate a huge number of dining alternatives that serve residents living in the different clusters, each made up of three towers.
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