How to rent an affordable apartment in Dubai without compromising quality
As summer’s heat finally fades, rental prices in Dubai are on the rise. However, even with this upward trend, it’s still possible to save money in this famously expensive city if you know a few market secrets.
Experts from Colife Dubai, an all-in-one solution for modern tenants, property owners, and private investors headquartered in Dubai, shared tips on how to rent a comfortable apartment without ending up in low-quality neighborhoods.
Long-term contracts
One of the most effective ways to save on rent is by choosing a long-term lease. The longer the lease, the lower the monthly rental cost.
“To save money on rent, it’s essential to go for a year-long contract. This way, you benefit from lower rates during the summer season, resulting in a more affordable monthly price overall,” says Elena Selivanovа, Sales Director at Colife Dubai.
For example, one of our one-bedroom apartments in Dubai Marina costs 9,900 AED per month for a 12-month lease, whereas the same apartment would be 11,000 AED per month for just a 3-month lease.
Avoid booking during peak seasons
Timing is everything when it comes to renting in Dubai. The high season, which typically spans from October to March, brings fewer options and higher prices. Booking your rental during the off-peak months, especially during the summer, gives you better deals and a wider selection of properties to choose from.
Consider older buildings or less popular areas
Newer buildings often come with higher price tags. By looking into older but well-maintained buildings, you can find more budget-friendly options. Additionally, exploring less central neighborhoods may offer significant savings without sacrificing quality.
“If you have a driving license, consider renting a car and living in areas a bit farther from the city’s most popular spots. The combined cost of a car and an apartment outside the pop areas may end up saving you money. Areas like Al Furjan, for example, offer excellent value for money,” adds Elena Selivanova.
Look for special offers
Many real estate agencies and landlords offer great discounts during the low season to attract tenants. At Colife Dubai, for instance, we currently offer discounts of up to 20% on 3- to 6-month rentals to stand out in the competitive market.
These promotions happen frequently, so it’s important to stay updated on the latest market trends.
Consider sharing an apartment
You can save a significant amount on rent by sharing an apartment with friends or colleagues. This way, you can split not only the rent but also expenses for utilities, furniture, decor, groceries, and even transportation.
If you’re new to the city, try finding roommates online, but be cautious to avoid scams. There are plenty of social media groups where you can find a roommate who might even become your first friend who will help you adapt to your new life in Dubai. For example, the Colife team runs a Facebook community where users can find flatmates to share an apartment with.
Check for inclusive deals
Look for rental deals that include utility bills, internet, or maintenance costs. While these options might seem pricier initially, they can be more cost-effective over time, especially if you’re sharing the apartment with roommates.
Know the market trends
Currently, there’s a high demand for budget-friendly rentals, with many inquiries ranging from 5,000 to 7,000 AED per month, despite the average cost of an apartment in Dubai being around 11,000 AED. In most cases, a studio is the only option within the 7,000 AED range, but by following the strategies mentioned above, you might secure more spacious housing that fits your budget.
By planning strategically and being flexible with your choices, you can find a rental property in Dubai that offers both quality and affordability.
