Al Satwa has emerged as the most affordable area for rents among properties located close to beaches in Dubai, according to a new report by website dubizzle Property.
The report researched rental prices of six areas near the Dubai coastline including Jumeirah, Al Satwa, Al Badaa, Al Wasl, Jumeirah Beach Residence (JBR) and Dubai Marina.
In total, 64,580 properties for rent were listed in these six areas from January to September 2017 in close proximity to Dubai’s most frequented beaches.
Al Satwa was identified as the most affordable rental area for one-bedroom apartments, with the average annual rental cost standing at Dhs68,000.
Al Badaa ranked in second at Dhs70,000, followed by Dubai Marina at Dhs99,000, Al Wasl at Dhs109,000, Jumeirah at Dhs120,000 and JBR at Dhs121,000.
Two-bedroom apartments followed a similar trend, with rental prices for Al Badaa starting at Dhs93,000, Al Satwa at Dhs99,000, Dubai Marina at Dhs144,000, Al Wasl at Dhs151,000, JBR at Dhs155,000 and Jumeirah at Dhs186,000.
Three-bedroom apartments for rent in JBR stood in at Dhs166,000, with Dubai Marina averaging at Dhs201,000.
In terms of villas, rental prices for three-bedroom units in Al Satwa start at an average of Dhs160,000, with properties in Al Badaa averaging at Dhs176,000, Jumeirah at Dhs190,000 and Al Wasl at Dhs271,000.
The average rental price for four-bedroom villas in Al Satwa, Al Badaa, Al Wasl, and Jumeirah stood at Dhs203,000, Dhs226,000, Dhs228,000 and Dhs249,000 respectively.
Nick Stockwell, partner at Mr & Mrs Stockwell boutique agency, stated: “As one of the oldest residential areas of Dubai, Jumeirah has had a reputation for high prices and poorer quality properties, however this has changed in recent years and there are some exceptional and new villas available for rent from as little as Dhs220,000.
“However, if you want to be right on the beach expect a hefty premium in rent.”
In terms of sales prices, apartment prices in JBR were identified as the most affordable, starting at an average of Dhs1.4m for one-bedroom units, Dhs2.3m for two bedroom units and Dhs2.6m for three bedroom apartments. It was followed by Dubai Marina where prices stood at Dhs1.7m (one-bedroom), Dhs2.4m (two-bedroom) and Dhs3.9m (three-bedroom).
In terms of popularity, Dubai Marina recorded over 29.2 million searches during the January-September period, followed by JBR with 7.3 million searches, Al Satwa, with 2.9 million searches, Jumeirah with 1.7 million searches, Al Wasl with 670,000 searches, and Al Badaa which recorded 495,000 searches.