The most popular areas in Dubai for renting apartments have been named in a new report by property website Bayut.
Dubai Marina, Discovery Gardens, International City, Dubai Silicon Oasis and Jumeirah Lake Towers remained the most popular areas to rent apartments in Dubai in January 2018.
Dubai Marina topped the list, with average rents standing at AED 65,000 for studios, AED 88,000 for one-bedroom apartments and AED 130,000 for two-bedroom apartments.
The area was also the most popular for buying apartments, with the average asking price for studios at AED 837,000, compared to AED 1.3 million for one-bedroom apartments and AED 2.2 million for two bedrooms.
Discovery Gardens followed in second place in the rental list, with average rents for a studio at AED 43,000, AED 60,000 for one-bedroom apartments and AED 87,000 for two bedrooms.
Second place in the buying list for apartments went to Downtown Dubai. Prices are higher in Downtown Dubai, with studios selling for AED 1.2 million, one bedrooms for AED 1.5 million and two bedrooms costing around AED 2.8 million.
Villas saw different areas most popular. For renting the area of Mirdif came out top, with asking rents falling on average. Rents for three-bedroom villas stood at AED 115,000, compared to AED 130,000 for four bedrooms and AED 150,000 for five bedrooms.
When it came to purchasing villas, prices have also slightly dropped. The number one spot went to Arabian Ranches, where the asking price for three-bedroom villas was AED 3.1 million, compared to AED 4.25 million for four bedrooms and AED 5.45 million for five bedrooms.
There was further good news for overseas property investors. Despite the asking prices on villas dropping on average in Dubai, the return on investment (ROI) actually rose slightly because of continued interest in renting. Up from 5.04 percent in 2017 to 5.27 percent in January.
It seems that overseas property investors can still look forward to a decent return from property investment in Dubai.