Where to rent a Dubai apartment for $6,800 pa
International City no longer offers the cheapest rates
Studio apartments in Arjan and Dubai Investment Park (DIP) are on offer for as low as AED25,000 (6,800) pa, according to the Real Estate Regulatory Agency's (Rera) latest rental index.
Until now, International City was tipped as the community where rental prices were cheapest in the Emirate.
However, according to listings on property websites, most landlords are asking for between AED35,000 ($9,500) for unfurnished studios and AED50,000 ($13,600) for fully-furnished studios in Arjan.
And online, DIP property listings start at AED45,000 ($21,250).
The index also shows the lowest-priced homes in International Media Production Zone (IMPZ) and International City at AED30,000 ($8,167) and AED35,000 ($9,500) pa, respectively, but market listings for IMPZ range from AED40,000 ($10,890) to AED50,000 ($13,600) pa and for International City, between AED35,000 ($9,500) and AED40,000 ($10,890) pa.
Over the past year, studio accommodation rent in Dubai has increased 35% on average.