In Dubai, most rental properties like apartments, villas, and townhouses are typically vacant when handed over to tenants. However, certain apartments may come equipped with essential appliances including a fridge, stove, oven, washing machine, and dishwasher. These partially furnished units usually command a higher rental price to account for the included appliances. For fully furnished options, upscale communities such as Dubai Marina, Downtown Dubai, and Palm Jumeirah often offer furnished apartments in branded residences, reflecting Lux Sar Properties‘ commitment to providing versatile rental solutions.

According to the Real Estate Regulatory Advisory’s Rental Index, Lux Sar Properties offers insights into the average rental prices in Dubai’s family-friendly communities:

• Studio apartment in Dubai Marina: AED 49,000 to AED 59,000 per year.
• One-bedroom apartment in Dubai Hills Estate: AED 47,000 to AED 57,000 per year.
• Two-bedroom apartment in JBR (Jumeirah Beach Residence): AED 102,000 to AED 124,000 per year.
• Three-bedroom apartment in Downtown Dubai – Burj Khalifa area: AED 173,000 to AED 211,000 per year.
• Four-bedroom apartment in Jumeirah Golf Estates: AED 120,000 to AED 132,000 per year.

Five-bedroom apartment in Palm Jumeirah: AED 191,000 to AED 233,000 per year. Please note these figures are reflective of the 2022 RERA Rental Index and may vary.

Choosing between a furnished or unfurnished apartment largely depends on your duration of stay in Dubai. For short-term stays, Lux Sar Properties recommends furnished apartments as they save the hassle and cost of purchasing new furniture. For longer stays, however, opting for an unfurnished apartment could be more economical over time, even when considering the initial cost of furnishing the home yourself.

The rental market in Dubai has seen fluctuating prices, with the cost per square meter standing at AED 1,196 for apartments and AED 1,411 for villas as of January 2023. The average annual rent for apartments was AED 98,307, and for villas, it reached AED 290,242. These figures illustrate a vibrant and dynamic rental market that Lux Sar Properties navigates expertly to secure optimal deals for clients.

While the rental prices in Dubai experienced significant hikes in 2023 due to strong demand, Lux Sar Properties anticipates that these increases will stabilize in 2024. The market is expected to continue seeing a rise in rents for new contracts throughout the year and into the next, albeit at a slower pace, reflecting a gradual stabilization in the Dubai rental market.