According to the most recent data released by real estate consultancy Cavendish Maxwell, the most cost-effective area to rent a studio or one-bedroom apartment in Dubai South, while the least cost-effective area to rent a two-bedroom apartment is International City. City Walk, Downtown, and Palm Jumeirah, on the other hand, are the most expensive areas in the emirate to rent an apartment, with two-bedroom apartments costing over Dh100,000 per year. Between the fourth quarter of 2019 and the end of 2020, average apartment rents fell by 16 percent. On a quarterly basis, they decreased by 4%. On a yearly basis, rentals for villas and townhouses were down 1.7%. “ The market remained dominated by tenants in the fourth quarter of the year, owing to increased supply and the increased likelihood of cost savings on rents.

Many tenants have opted to move into larger spaces or better neighbourhoods, or both, because of the variety of choices now available at more affordable rates,” Cavendish Maxwell said. “Communities such as Al Furjan, Dubai South, International City, and Jumeirah Lakes Towers saw the steepest rent declines on a yearly basis,” it added.

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