According to the Mercer Cost of Living survey, it is expensive to live in Dubai. It ranked as the 23rd most expensive out of 209 destinations. However, it costs roughly 25% less than New York City and 4% less than Abu Dhabi, which is close by. As a result, Dubai may seem like a good deal based on where you currently reside.
The cost of living in Dubai may be pretty high. Even though rental costs have decreased over the past few years, they can still be rather high and can consume a significant portion of your income. However, there are several places where you can find decent accommodation for less money. Here is a list of Dubai’s top 5 cheapest neighbourhoods. All of these regions come with all kinds of amenities and are well connected.
DAMAC Hills 2
DAMAC Hills 2, formerly known as Akoya Oxygen, is one of the best places in Dubai to get a cheap house. It is regarded by many as one of Dubai’s premier golf communities.
DAMAC Hills 2 is an eco-friendly and self-sufficient community. In reality, it was the emirate’s first green neighbourhood. Due to the proximity of four motorways, getting around the rest of the emirate is not a problem. So, it is not surprising that it is popular.
DAMAC Hills 2 comes with various cost-effective benefits which include:
- A two-bedroom townhouse in DAMAC Hills 2 typically sells for AED 1 million.
- The cost increases to AED 1.1M and AED 1.5M for larger 3- and 4-bed townhouses, respectively.
- Townhouses in the neighbourhood have an ROI of 5.55%.
Town Square is the most affordable apartment in Dubai. It is a desirable alternative for investors due to the presence of retail establishments, amenities including plenty of parking, open space, and a family-friendly way of life. There are 2, 3, and 4-bedroom townhouses for sale in Town Square, which are dispersed throughout a number of sub-communities.
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Town Square’s parks and shaded pathways provide residents with the opportunity to live a healthy lifestyle. The neighbourhood has recreation centres for people of all ages.
The major cost benefits of the area include:
- Town Square 3-bed townhouses typically sell for AED 1.7M on the open market.
- In Town Square, you can buy a 4-bed townhouse for AED 2.1M.
- The ROI of townhouses in the area stands at 6.32%.
Dubai Silicon Oasis
Dubai Silicon Oasis (DSO) is a highly sought-after address. It is a suburb that is humming with technology and creativity in the business world and is more popularly referred to as Silicon Oasis. The construction provides a free trade zone and supports businesses working in the technological park. It is regarded as a conveniently positioned community that smoothly combines residential and working areas.
Bayut’s 2020 Annual Rental Report lists DSO as the most popular and affordable apartment in Dubai. Anyone looking for a holistic community lifestyle may find living in Dubai Silicon Oasis ideal. DSO provides a variety of lodging options for single people as well as families. It has numerous residential structures and guarded sub-communities.
The most significant and economical advantages of DSO include:
- On average, apartments cost around AED 25k per year.
- 1-bedroom apartments for rent cost around AED 37k.
- 2-bedroom flats in DSO renting out for an average of AED 58k.
- 3-bedroom flats in Silicon Oasis typically cost AED 79k per year in rent.
Jumeirah Village Circle
The best green lifestyle is available to residents in close proximity to the city at Jumeirah Village Circle. Residents can live a tranquil existence because there are more than 30 parks and gardens nearby. Families make up a sizable portion of the population in JVC for the same reason.
JVC is one of Dubai’s most sought-after neighbourhoods for renting and buying, including more than 2000 residential apartments. It is quite popular with both expats and Emiratis due to its close proximity to all significant Dubai monuments and affordable price. Apartments, townhomes, and villages are among the properties for sale in Jumeirah Village Circle.
The many different housing options offered here are reasonably priced and offer a high-quality way of life. These apartments are all located in buildings with local tastes and preferences. The gorgeous residential neighbourhood known as Jumeirah Village Circle is located in the centre of Dubai and offers much-desired tranquillity and a peaceful setting. The area has a lot of nearby entertainment options, as well as a lot of lifestyle amenities inside its boundaries. Additionally, Ibn Battuta Retail Mall, one of Dubai’s major indoor-themed shopping and entertainment destinations, is not far from the flats in Jumeirah Village Circle.
There are many reasons why JVC is a cost-friendly residential development, which include:
- The average cost of a studio apartment in JVC is 418,000 AED.
- The average cost of a one-bedroom apartment is 658,000 AED.
- Apartments with two and three bedrooms are often sold for 1 million and 1.3 million AED, respectively.
- The average cost of a four-bedroom apartment is 4.1 million AED.
When it comes to JVC villas for sale.
- 1 bedroom villa’s average sale price is 1M AED
- 2 bedroom villa’s average price is 1.58M AED.
- 3 bedrooms and 4 bedrooms typically sell for 1.84 million AED and 1.93 million AED, respectively.
- 5-bedroom villa typically sells for 2.19 million AED.
Dubai Sports City
Dubai Sports City is a neighbourhood that offers a variety of living and housing possibilities at pocket-friendly rates. Investors are vying to invest in this new development, which is home to the International Cricket Stadium and Els Club. For individuals looking to invest in Sports City, there are a variety of villa communities and apartment buildings. Similarly, residents have a variety of autonomous villas as well as studio to 3-bedroom apartments to pick from.
Dubai Sports City is one of the freehold areas that offer affordable residential properties in Dubai. There are plenty of facilities in close proximity for residents to enjoy and if that isn’t enough, the Mall of the Emirates is only 15 minutes away.
The neighbourhood epitomizes a love of sports. Sports enthusiasts who want an active lifestyle will thrive in Dubai Sports City. The community offers residents a wealth of amenities. Renters and investors have a variety of options, including studio, 1, 2, and 3-bedroom apartments, for everyone from young couples to developing families. The rental residences are available in a range of layouts and designs, from contemporary and futuristic to more conventional Arabic.
The budget-friendly options in Dubai Sports City include:
- A studio apartment for rent typically costs AED 24k per annum.
- In Cricket Tower, large studios ranging in size from 350 square feet to 570 square feet are available for rent annually for AED 24,000.
- Cricket Tower, which has 140 apartments and is 15 floors above the ground, is best suited to young foreigners.
- The annual rent for one-bedroom apartments in Dubai Sports City ranges from AED 26k to AED 55k.
- If you’re looking for spacious rooms then a 2-bedroom apartment may be rented for as low as AED 51k
- The average cost for 3-bedroom apartments in Dubai Sports City is about AED 70k.
Dubai is a hub for real estate properties. Whether it’s a luxury townhouse for sale, an extravagant villa or an affordable apartment in Dubai, the vibrant city has everything you need. If you’re looking for residential apartments in Dubai, Next Level Real Estate can help you out. We have an extensive collection of luxury and affordable real estate properties to suit your needs.