Jumeirah Village Circle edges out Bur Dubai, Al Nahda as Dubai's budget-friendly rent spot. Dubai Marina and the Downtown are top choices for luxury properties.
Dubai , Dubai
27 January 2021, 12:00 AM
06 February 2021, 12:00 AM
For budget conscious tenants in Dubai during 2020, the various housing options in Jumeirah Village Circle was the clear favourite with studios leasing out from Dh30,000 and one-beds at Dh46,000.
Bur Dubai remains an eternal favourite for those who preferred to rent in Dubai’s non-freehold spots, where a one-bedroom can be had for Dh49,000 in a popular neighbourhood and fairly well-maintained buildings.
According to the property portal bayut, the other clear choice for tenants intent on saving where possible was Al Nahda, where a studio now leases for Dh28,000. Rents in Deira, Bur Dubai and Al Nahda dropped by an average 12 per cent last year, and some of the vacancies created are yet to be filled, based on market feedback.
The most popular neighbourhoods in Dubai have reported sales price declines of between 2-10 per cent, while rental properties have seen drops of 9-17 per cent, according to bayut.
Dubai Marina, the Downtown, Jumeirah and Arabian Ranches are top choices for luxury properties, be it for sale or rent, according to bayut.
At the other end of the spectrum, Apart from Jumeirah Village Circle, anyone looking at community options but on a budget are searching out options at Mirdif, Dubailand and Akoya Oxygen.