Dubai is home to the world’s tallest building, countless architectural marvels and world’s most spectacular neighbourhoods, where you can enjoy your dream lifestyle. The gold standard living and harmonious lifestyle are a few of the reasons that appeal to expatriates who come to experience this high-end living in Dubai. It is observed that a majority of expatriates prefer renting an apartment or villa right after landing, instead of buying a property.
And the reasons behind renting a property can be many such as they want to experience different residential neighbourhoods before finalizing one. Besides investing, the demand for luxury rental properties has also gone through the roof during last year, as people are looking for bigger and better spaces and want to upgrade their lifestyle. Therefore, not just the prices of properties for sale increased but rental costs also continue to soar as Dubai real estate market heats up.
Dubai rental market – An overview
Currently, Dubai real estate market is experiencing high demand for luxury rental residential units due to an influx of people looking for job opportunities and a premium lifestyle. Rental prices of residential properties have gone up, with the average cost of renting a villa increasing by 25.7% in 2022. This year, Dubai’s new rental index will be based on building conditions and not just on the neighbourhoods. It can also help you find better rental apartments, in your selected neighbourhoods.
The most expensive rental areas for villas are Al Barari, Palm Jumeirah, and Emirates Hills and for apartments, Bluewaters Island and Downtown Dubai are the top picks. Following are also the top areas with the most expensive apartments and villas in Dubai, which offer a luxurious living experience and attract investors and residents from all over the world.
5 Most expensive places to rent villas in Dubai
If you are looking for luxury villas that exude finesse and refinement, look below and you will surely find amazing options to choose from. However, before starting the quest, you must check these 5 tips to make renting a property easier in Dubai.
Al Barari is an 18 million square foot gated community in Dubai that offers premium villas and is one of the greenest areas in the emirate, with 60% of the community dedicated to landscaped gardens, natural lakes, and green spaces.
The community offers amenities such as The Farm restaurant, Body Language health club, and others. It takes about 25 minutes to travel to Downtown Dubai and Dubai International Airport from Al Barari. The average cost of renting a villa in Al Barari is AED 956,200, with a 4.5% ROI for a 4-bedroom villa and a 5.2% return rate for a 7-bedroom unit, a lucrative option for someone searching for villas for sale in Dubai.
Popular sub-communities in Al Barari are Seventh Heaven, Ashjar, The Nest, and Bromellia.
Families with children have access to many educational institutions, including Kids Zone Nursery and GEMS Heritage Indian School. Entertainment and leisure activities in the area include Cityland Mall, Dubai Autodrome, and Dubai Polo Equestrian Club.
Jumeirah is a highly sought-after waterfront area stretching along the coast of the Arabian Gulf in Dubai, home to the famous Burj Al Arab hotel. If you are looking for luxury waterfront living in Dubai, have a look at Marina and Jumeirah because countless luxury apartments, villas, and townhouses are available for rent there.
The average cost of renting a villa in the area is AED 525,200. The area is divided into several sub-communities, including Jumeirah 1, Jumeirah 2, Jumeirah 3, City Walk, and Jumeirah Bay Islands, with future tenants and residents able to choose from 3 to 7-bedroom units.
The luxurious Wasl 51 in Jumeirah 1 offers villas featuring a plunge pool, a poolside dining area, and other premium amenities, while some residences have elevators, a jacuzzi, and a BBQ area. The Arenco Villas 32 in Jumeirah 3 has a squash court, a swimming pool, and a gymnasium with state-of-the-art fitness equipment, making it ideal for sports lovers.
The area is pet-friendly, which is perfect for pet owners. It takes only 15 minutes to get from Jumeirah to Downtown Dubai and Business Bay. Jumeirah Beach, City Walk, Town Centre Jumeirah, and Galleria Mall are popular entertainment and shopping destinations.
Emirates Hills, one of the initial freehold areas in Dubai, is open for foreign ownership with 100% property ownership. This secure gated community lies adjacent to The Meadows, The Lakes, and The Springs. The area embodies the essence of Beverly Hills in America and boasts vast green spaces encompassing the Montgomerie Golf Club.
The average cost of renting a villa in Emirates Hills is AED 908,000 with an AED 94 per sq. ft. rental price. Property investors may find the ROI of a 5-bedroom villa in the region, which is 3.8%, to be of interest to people searching for villas for sale in Dubai.
A diverse range of 3 to 8-bedroom luxury villas is available for future residents, providing private swimming pools, terraces, extensive kitchens, living areas, study and staff rooms, and ample storage space, depending on the property layout. Villas offer at least two pet-friendly parking spots with exclusive pet parks.
Families with kids can benefit from the children’s playgrounds and an array of educational institutions like Raffles Nursery in The Lakes, Dubai British School, Michigan State University, Middlesex University Dubai, and many more in the vicinity. Professional medical care is available at Mediclinic Meadows, Al Das Medical Clinic – Meadows, and Aster Clinic – JLT.
Shopping centres like The Springs Souk and The Meadows Souk are within close reach. The area also provides easy access to Dubai Marina Mall, featuring 140 retail stores and 21 dining options due to the connection to Sheikh Zayed Road.
(DIP) Green Community
Green Community in Dubai Investment Park is an eco-friendly area that offers villas, townhouses, and apartments for rent. Villas come with private gardens, verandas, and swimming pools and range from 3-5 bedrooms with floor plan areas from 4,200 to 9,500 sq. ft. The average rental price for a villa is AED 375,000 annually. The area is family-friendly, with various educational institutions and clinics nearby. Travel time to Dubai Marina and Downtown Dubai takes about 25 minutes by car. Entertainment options include Ibn Battuta Mall, Dubai Marina Mall, and golf courses.
The Meadows is a community located in Dubai, bordering Jumeirah Islands and Jumeirah Lake Towers, with easy access to key areas such as Dubai Marina, Dubai Media City, Dubai Internet City, and Dubai Knowledge Park. The community offers 1,800 villas with various architectural styles, ranging from 3-7 bedroom residences, with an average rent of AED 325,500 and an ROI of 4.8% for a 3-bedroom unit. The Meadows also offers several leisure and entertainment activities, such as The Meadows Souk, Dubai Marina Mall, The Walk at JBR, The Beach at JBR, and Montgomerie Golf Course.
5 Most expensive neighbourhoods to rent apartments in Dubai
For those looking for renting swankiest apartments in Dubai, here is our top picks with the most expensive apartments in Dubai.
Why Bluewaters island is a great choice for living? It is home to Ain Dubai, and a luxurious area in the city, ideal for those seeking exclusivity when searching for apartments for sale in Dubai. The area offers a range of apartment complexes that put residents near the city’s high-end shopping and entertainment options, including restaurants such as Gordon Ramsay Hell’s Kitchen. Apartments for rent average around AED 180,000 per year, while those interested in purchasing can expect an average price of AED 3.3 million. The area also offers amenities such as swimming pools, play areas for kids, and facilities for differently-abled residents.
City Walk is a luxurious community in Dubai that features expensive apartments. It is located near popular leisure attractions such as Mattel Play Town, The Green Planet, and The Dubai Mall. The community offers stunning views of the Burj Khalifa, beautiful interiors, swimming pool access, and other upscale amenities. Furnished apartments are also available for those who are willing to spend more. The annual average rent for flats in City Walk is AED 150,000, while the average sales price for apartments is AED 3.1 million.
Ask anyone in Dubai, and they will tell you that Downtown Dubai is one of the most coveted places to live. No wonder apartment rents average out at around AED218,840 with an ROI of around 3%. Why it’s so expensive? Well, there are several reasons. Find all you need to know about living in Downtown Dubai here as it will help you make decision.
Downtown Dubai is desirable due to its proximity to the main attractions in Dubai, such as the Dubai International Airport, World Trade Centre, and International Financial Centre. It is also home to iconic landmarks such as the Burj Khalifa, Dubai Fountain, and Dubai Mall, attracting many tourists.
Additionally, these apartments are known for their luxurious and high-end finishes, state-of-the-art facilities, and stunning skyline views, which attract wealthy individuals. Lastly, the development of the area was a massive investment by the government and private developers, causing the cost of construction to be high and the resulting prices to be expensive.
Palm Jumeirah is going uptown in Dubai real estate sector and with rents of flats averaging AED 258,529 and an ROI of more than 4%, it is a lucrative option for people searching for apartments for sale in Dubai. These flats in Palm Jumeirah are expensive for several reasons. Firstly, the island is a man-made marvel and is considered one of the most exclusive areas to live in Dubai. This, combined with the fact that the island’s limited space, drives up the cost of the property.
Additionally, the location of Palm Jumeirah is highly desirable, offering stunning sea views and close proximity to some of Dubai’s top attractions, including the Dubai Marina and the Burj Al Arab. The luxury lifestyle on the island, with access to exclusive beach clubs, top-class restaurants, and high-end shopping centres, also contributes to the high property prices in Palm Jumeirah.
For those seeking luxurious apartments, Pearl Jumeirah is one of the most expensive areas to live in Dubai. This community comprises seven residential islands, boasting lavish amenities such as a beach club, town centre, hotels, and a 2km promenade. The Nikki Beach Resort and Spa is also located in the area, offering spacious and opulent beachfront apartments.
The annual rental price for apartments in Pearl Jumeirah averages around AED 250,000. Interested investors can also purchase apartments in the area, with an average sales price of AED 3.9 million.
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Dubai is home to some of the most luxurious and expensive places to rent villas and apartments worldwide. From the man-made islands of Palm Jumeirah and Bluewaters Island to the exclusive communities of Emirates Hills and Pearl Jumeirah, these areas offer residents the ultimate luxury living with access to top-notch amenities and attractions. Despite the high prices, many high-net-worth individuals and expats are drawn to these areas due to their central location, stunning views, and opulent features.
Whether you are looking for beachfront villas for sale in Dubai, or high-rise apartments with breathtaking views of the city skyline, or a family-friendly community with world-class facilities, Dubai has something to offer everyone willing to pay for a luxurious lifestyle. Call us at +971 4876 2473 or can also write us your query at email@example.com and we will help you secure one of the best rental deals in the city.