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4 mins to read,
October 13th, 2019
4 mins to read,
October 13th, 2019
Creating a budget for housing expenses is important in determining where you can afford to rent. We recommend communities by budget to help guide your search criteria.
New to Dubai and looking to rent your first home? Or, simply seeking to relocate or upgrade? The emirate offers residents a plethora of choice to appeal to all lifestyle preferences. Location is unquestionably the most important factor to consider when renting a home. Though, equally as essential is understanding costs, as ultimately, your budget will determine where you choose to live.
Housing is typically the average person’s largest monthly expense. As a general rule of thumb, no more than 30% of your salary should be spent on housing.
For example, on a salary of AED 20,000 per month, AED 6,000, or less, per month should be allocated toward housing, equating to AED 72,000 per year.
However, everyone’s financial situation is different. If you don’t spend much on transportation or entertainment, you may have more room to move with your housing budget.
“As the Dubai property market matures, residents are finally seeing rents reduced to a level that is considered affordable and, in turn, their cost of living is going down”
LYNNETTE ABAD, DIRECTOR OF RESEARCH & DATA, PROPERTY FINDER
Now that you have a guideline in determining your budget for housing expenses, you can start looking for properties that fall within the following ranges:
| Monthly Salary | Average Annual Rent (based on 30% allocation of monthly income) |
| AED 5,000 | AED 18,000 |
| AED 5,000 – AED 10,000 | AED 18,000 – AED 36,000 |
| AED 10,000 – AED 15,000 | AED 36,000 – AED 54,000 |
| AED 15,000 – AED 20,000 | AED 54,000 – AED 72,000 |
| AED 20,000 – AED 25,000 | AED 72,000 – AED 90,000 |
| Community | Average Rent | What you’ll get |
| Al Nahda | AED 33,900 | Studio apartment |
| Deira | AED 38,000 | Studio apartment |
| Discovery Gardens | AED 34,000 | Studio apartment |
| Dubailand | AED 30,000 | Studio apartment |
| Dubai Production City | AED 29,000 | Studio apartment |
| Dubai Silicon Oasis | AED 34,000 | Studio apartment |
| International City | AED 28,000 AED 36,000 | Studio apartment 1BR apartment |
In addition to the above communities, you can expand your search to the following:
| Community | Average Rent | What you’ll get |
| Al Barsha | AED 43,000 | Studio apartment |
| Al Furjan | AED 36,000 | Studio apartment |
| Discovery Gardens | AED 50,000 | 1BR apartment |
| Dubai Sports City | AED 48,000 | 1BR apartment |
| Dubai Silicon Oasis | AED 46,500 | 1BR apartment |
| Jumeirah Lakes Towers (JLT) | AED 45,000 | Studio apartment |
| Jumeirah Village Circle | AED 38,000 AED 54,000 | Studio apartment 1BR apartment |
| Jumeirah Village Triangle | AED 40,000 AED 51,000 | Studio apartment 1BR apartment |
| Motor City | AED 45,000 | Studio apartment |
| Remraam | AED 48,000 | 1BR apartment |
In addition to the above communities, you can expand your search to the following:
| Community | Average Rent | What you’ll get |
| Al Furjan | AED 58,000 | 1BR apartment |
| Barsha Heights (Tecom) | AED 60,000 | Studio apartment |
| Business Bay | AED 54,000 AED 72,000 | Studio apartment 1BR apartment |
| Downtown Dubai | AED 65,000 | Studio apartment |
| Dubai Marina | AED 55,000 | Studio apartment |
| Dubai Sports City | AED 68,000 | 2BR apartment |
| Jumeirah Beach Residence (JBR) | AED 65,000 | 1BR apartment |
| Jumeirah Lakes Towers (JLT) | AED 67,000 | 1BR apartment |
In addition to the above communities, you can expand your search to the following:
| Community | Average Rent | What you’ll get |
| DIFC | AED 68,000 | Studio apartment |
| Downtown Dubai | AED 90,000 | 1BR apartment |
| Dubai Creek Harbour | AED 75,000 | 1BR apartment |
| Jumeirah Golf Estates | AED 85,000 | 2BR apartment |
| Jumeirah Village Triangle | AED 70,000 | 2BR apartment |
| Palm Jumeirah | AED 70,000 | Studio apartment |
| Town Square | AED 60,000 AED 80,000 | 2BR apartment 3BR apartment |
For those earning above AED 25,000, you have the financial freedom to rent in most, if not all, areas within Dubai. Many luxury properties in the following communities are well within your reach:
| Security Deposit | 5% of annual rent |
| Agency Fees | Between 2-5% of annual rent |
| DEWA Fees | Apartments AED 2,000 (refundable deposit upon vacating and clearing any outstanding charges) AED 110 (non-refundable connection fee) Villa AED 4,000 (refundable deposit upon vacating and clearing any outstanding charges) AED 300 (non-refundable connection fee) |
| Housing Fees (Dubai Municipality Fee) | 5% of annual rent divided into 12 monthly payments added to DEWA bills |
| Ejari Fees | AED 220 |
When it comes to renting in Dubai, there is no shortage of housing options from community, to property type, to configuration – there is something to appeal to every taste and budget. Understanding your budget is imperative before entering in to any rental agreement to ensure that your commitment does not leave you thinly spread at the end of each month. It is also important to be aware of the costs beyond just the regular monthly rental payment. A thorough understanding of costs will leave you well placed to commence your property search to find the perfect property, aligned with your lifestyle preferences. Finally, if you want to follow up on the rental prices’ change for the most in-demand communities in dubai please click here.
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