Living in Dubai can be expensive. The housing market in particular has seen a sharp rise in costs. Renting an apartment, condo, house or gated residence can account for a significant portion of monthly expenses.
The cost of rental properties varies greatly depending on location and amenities. For example, a studio apartment in a prime location such as Downtown Dubai or Palm Jumeirah can cost between AED 7,000 and AED 15,000 per month. In contrast, a similar property in a less central location will only cost around AED 4,000 to AED 6,000.
For those who prefer more space, a one bedroom apartment can cost between AED 7,000 and AED 20,000 per month, while a two bedroom apartment can cost between AED 10,000 and AED 30,000. For families or those looking for more luxury, a villa or garden gate residence can cost between AED 40,000 and AED 100,000 per month, depending on size, location and amenities.
It is important to remember that rental properties in Dubai usually do not include utilities. This means that tenants must pay for their own electricity, water, and internet, which can add up quickly. Likewise, some landlords require a security deposit, which can amount to several months' rent, so it's important to plan accordingly.