The cheapest studio apartment in Dubai is available for rent for $6,800 (AED 25,000) a year, revealed the city’s official rent index issued by the Real Estate Regulatory Agency, the regulatory arm of Dubai Land Department.
The rent range for the units, located in Dubai Investment Park (DIP) and Dubai Outsource Zone, is from $570 (AED 2,100) to $680 (AED 2,500) per month, reported Emirates 24/7.
Rent is slightly higher in International City, where it ranges from $8,170 (AED 30,000) to $9,530 (AED 35,000) for studio units.
In DubaiLand, annual rent starts at $8,170 (AED 30,000) and goes up to $10,890 (AED 40,000), while in areas such as Dubai Silicon Oasis and International Media Production Zone, it ranges from $9,530 (AED 35,000) to $12,250 (AED 45,000) per year.
New laws will use a star rating for each building to decide future rent increases. They will be added to the rent index, according to Mohamad Khodr Al Dah, director of Dubai Land Department Technical Affairs Department.
The laws are intended to stop owners of old buildings from increasing rent to match that of newer plots.
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