Not many places in the world can boast to have had a transformation as rapid and magnificent as Dubai. Within a time span of around 30 years, Dubai changed its landscape, economy and culture to become one of the world’s most prominent business hubs, as well as a leading travel and leisure destination.
With all that progress came the attention of the entire world and, expectedly, many people are choosing to make Dubai their home, whether for business or for pleasure. As of 2013, there are over 2.1 million people living in Dubai and as their number rises, so does the interest in accommodation and apartment renting. Currently, about 70% of Dubai’s inhabitants are renters, so the renting market is very much alive and dynamic and finding a suitable apartment for rent in Dubai is a serious undertaking.
Depending on your needs, preferences and financial situation, you can choose to rent anything from a luxurious apartment with a stunning sea view in the city center to a simple studio apartment closer to the outskirts of the city. Whichever option you choose, though, you’ll benefit from following some of the apartment renting tips we’re about to share with you.
Firstly, decide how big your budget is and what you are planning to get for it. Although the rent prices have risen only 7% during 2014. Compared to 24% in 2013, the market is still harsh for new tenants and you should investigate your options carefully before settling down in your chosen place of residence. If you are planning to rent for longer than six months, you might be able to negotiate a more cost effective long term or annual rental, but have in mind that many places will require you to pay your entire yearly rent in advance.
Once you’ve decided how much you want to spend on rent, it’s time to start shopping around for best deals. The most obvious solution for finding apartments for rent in Dubai is the internet and even a simple search will get you thousands of results. You can easily try going into classified sites. Let me recommend Dubynow.com, you’ll find all that you’re looking for, from location to budget, you name it they got it. Still, don’t forget there are other options as well. You might want to talk directly to a few real estate brokers for some insider info and don’t forget to ask knowledgeable friends and acquaintances too, as they can sometimes come up with good deals and information which would otherwise be hard to find.
If your budget is tight, pay close attention to International City, Dubai Silicon Oasis and Dubai Investment Park as they have some of the cheapest studio apartments for rent. For the more affluent with more expensive tastes, Dubai offers a plethora of options, most notable being Downtown Dubai, Dubai Marina, Jumeirah Lake Towers and properties on the iconic Palm Jumeirah island.
Last but not least, set aside some time to educate yourself about some of the most common Dubai apartment renting issues. Whether you choose to search the internet for information yourself or talk to an experienced professional, make sure to get acquainted with your rights as a tenant so you don’t fall prey to less than scrupulous brokers and landlords. You might not want to read entire laws, but you’d be wise to at least learn about broker legitimacy, potential hidden fees and basic rules and regulations regarding rent increase, before you get to deal with Dubai’s Rental Dispute Settlement Center.