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Asteco consultancy has published a report, according to which Dubai rents are sometimes 100% higher than rents in the remote northern emirates.
In the real estate world location is the main factor to shape demand and set prices, that’s why price tags for both rental and sales segments can differ tens and hundreds times, depending on where the unit is located. In the United Arab Emirates Dubai remains the most attractive place to live in. This is where life abounds, and the possibilities exceed even the most optimistic expectations. Not surprising therefore that renting an apartment in Dubai can be 116% more expensive than in the northern emirate of Umm Al Quwain and 85.71% more expensive than in Ajman. Such data were given in the Asteco report.
Abu Dhabi also keeps apace with its neighbor: renting an apartment in the expensive Mohammed Bin Zayed (MBZ) City area can be 217% more expensive than renting the same unit in Umm Al Quwain.
Another popular among tenants emirate of Sharjah, which borders Dubai, can offer apartments for rent for an average of AED 56,000 to 65,000 per annum, while the lowest rents in the most affordable Dubai's area of International City start from AED 65,000 pa for a two bedroom apartment. Northern emirate of Ras Al Khaimah has rental prices comparable to that in Sharjah, but the further north, the more affordable gets the rent. For example, you can rent a home in the emirate of Fujairah for as low as USD 49,000 pa.
However, despite of sales prices decrease, rentals in Dubai won’t go down, experts admit. Allsopp & Allsopp consultancy calls this situation unique. The reason for this is that Dubai property owners can afford to wait for a "proper" tenant, and the latter, in turn, are hesitant to move to a cheaper apartment, even when the rent is increased, for relocation costs may be even higher.
Also, despite plenty affordable rental offers in such Dubai areas as Dubai International City, Sports City and others, the greatest demand is still for properties in Dubai Marina and Downtown Dubai, for this is where it all happens, besides, living here you can also save time and money on transport expenses.
