Residential rents in Dubai up by an average of almost 50% during the last 2 years, while apartment rents over the emirate streamed 21% in 2013, villa rates grew by 10 %. latest property reports indicating that the trend is changing, the rate of rental growth reduced to 1%.Rents are getting slowdown in certain areas, like in Jumeirah Lake Towers, apartment rents fell by 4.6% .However, despite a low in rents, present housing costs in the emirate equal that of Manhattan.
Burgeoning cost of living has triggered relocation from the prime communities in Dubai to affordable areas because of rising rents in the emirate, Sharjah and Ajman. Currently looking to rent a house, here are the top 5 most economical areas.
International City –
Picture courtesy: www.tabanirealestate.ae
Its cluster of residences situated off the Dubai; is the most affordable area in Dubai. The district features a range of shops offering main community services and stores and the big Dragon Mart.
Discovery Gardens –
Picture courtesy: commons.wikimedia.org
This community is situated in Jebal Ali subsist of 6 themed districts and is close to Dubai Media City and Dubai Internet City. Including Ibn Battuta Mall and the community mall.
Dubai Silicon Oasis –
Picture courtesy: property.mitula.ae
This residential community off Emirates Road that coexists with a business park, Dubai Silicon Oasis features many academic facilities and other community and retail centres.
Dubai Investment Park –
Picture courtesy: www.dipark.com
The area offers residents a wide choice of accommodations. It has different kind of villas and townhouses to apartments and staff quarters.
Dubai Land –
Picture courtesy: iblessphotography.wordpress.com
Big development like Dubai land includes communities like Motor City, Dubai Sports City and The Villa and mix of both apartments and villas. The residential units are achieved by a host of sell centres, leisure options and educational organization.
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