- Understanding Rent-to-own Properties
- Areas Offering Rent-to-own Villas in Dubai
- Areas Offering Rent-to-own Apartments in Dubai
- FAQs
Dubai, with its luxurious lifestyle, state-of-the-art architecture and vibrant culture, has become a sought-after destination for people looking to invest in real estate. For those who are not ready to commit to a full purchase but aspire to call Dubai home, the concept of ‘rent-to-own’ properties has emerged as an appealing option. Let’s look at what this scheme is and where to find rent-to-own properties in Dubai.
Understanding Rent-to-own Properties
Rent-to-own, also known as lease-to-own or rent-to-buy, is a real estate agreement where tenants have the option to purchase the property they are renting after a certain period. This period usually ranges from one to three years.
During the rental period, a portion of the monthly rent contributes towards the potential down payment on the property, providing a stepping stone to ownership. For instance, the buyer typically pays 20% to 30% of the property’s purchase price as rent over three to four years, as mutually agreed upon by both the buyer and the seller. After this contractual period ends, the total sum paid is then considered the initial down payment on the property.
This arrangement is designed to help individuals who may not have the immediate financial means to buy a property but wish to build equity over time. Now that you understand how such schemes work, let’s find the areas offering rent-to-own properties in Dubai.
Disclaimer: The prices mentioned below are extracted from dubizzle listings’ data. They are not repersentative of the actual transactions in the emirate.
Areas Offering Rent-to-own Villas in Dubai
Here are the popular areas in Dubai where the dream of renting to own a villa can become a reality.
Dubailand
Positioned as one of Dubai’s expansive entertainment and residential hubs, Dubailand offers a diverse range of villa communities. Moreover, with the constant rise in the demand for flexible homeownership options, developers now offer rent-to-own schemes for villas in Dubailand.
With an average asking price of AED 4,351,000 for villas in Dubailand, it ranks on top in offering rent-to-own properties in Dubai. The various categories of villas in Dubailand can be purchased around the following price points:
Area | 3-Bed | 4-Bed | 5-Bed | 6-Bed |
|---|---|---|---|---|
| Dubailand | 3-Bed 2,304,000 | 4-Bed 4,446,000 | 5-Bed 7,690,000 | 6-Bed 8,923,000 |
Jumeirah Village Circle (JVC)
Jumeirah Village Circle, a serene residential community, is home to an array of villas and modern amenities. It ranks second on the list of areas offering rent-to-own villa schemes in Dubai.
The cost of villas for sale in JVC averages AED 2,901,000. Moreover, in JVC, one can acquire villas of different categories at approximately the following price ranges:
Area | 3-Bed | 4-Bed | 5-Bed | 6-Bed |
|---|---|---|---|---|
| JVC | 3-Bed 2,613,000 | 4-Bed 2,996,000 | 5-Bed 3,119,000 | 6-Bed NA |
Al Furjan
Al Furjan, known for its contemporary architecture and family-friendly environment, is another sought-after location for those eyeing rent-to-own villas. It offers villas for sale around an average of AED 4,299,000. The range of villa categories in Al Furjan presents buying opportunities around the following price variations:
Area | 3-Bed | 4-Bed | 5-Bed | 6-Bed |
|---|---|---|---|---|
| Al Furjan | 3-Bed 2,920,000 | 4-Bed 4,101,000 | 5-Bed 5,571,000 | 6-Bed 7,475,000 |
Dubai South
As a key player in Dubai’s strategic development, Dubai South is emerging as a prominent choice for those seeking rent-to-own villas. Additionally, Dubai South ranks third on the list of rent-to-own properties in Dubai offering villas at an average price of AED 5,143,000.
Area | 3-Bed | 4-Bed | 5-Bed | 6-Bed |
|---|---|---|---|---|
| Dubai South | 3-Bed 2,317,000 | 4-Bed 3,261,000 | 5-Bed 4,806,000 | 6-Bed 12,652,000 |
Jumeirah Golf Estates
Next, we have Jumeirah Golf Estates. Being one of the top golf communities in Dubai, Jumeirah Golf Estates is an ideal destination for golf enthusiasts and those who appreciate an upscale living experience. Boasting luxurious villas surrounding world-class golf courses, Jumeirah Golf Estates also offers rent-to-own options. Such schemes are beneficial for tenants, allowing them to enjoy the premium amenities and exclusivity of this community.
The price of a villa for sale in Jumeirah Golf Estates averages AED 13,667,000. The different villa types in Jumeirah Golf Estates are available around the following price points:
Area | 3-Bed | 4-Bed | 5-Bed | 6-Bed |
|---|---|---|---|---|
| Jumeirah Golf Estates | 3-Bed 4,353,000 | 4-Bed 6,731,000 | 5-Bed 11,117,000 | 6-Bed 29,987,000 |
Lastly, we have Al Barsha which also offers rent-to-own villa schemes in Dubai. The area has villas for sale at prices averaging AED 10,082,000.
Areas Offering Rent-to-own Apartments in Dubai
For those envisioning the perfect apartment in Dubai but desiring a flexible path to homeownership, the rent-to-own apartment scheme is a game-changer. Let’s explore the areas offering rent-to-own apartments in Dubai.
Jumeirah Village Circle (JVC)
JVC is renowned for its meticulously designed apartments and serene ambience. As per dubizzle’s 2023 property sales report for Dubai, JVC ranks first among the areas offering affordable apartments for sale in the emirate.
Apart from the rent-to-own villa scheme, JVC is popular for rent-to-own apartments in the area as well. With an average sales price of AED 985,000 for apartments in JVC, the area ranks top among others.
Here are the diverse apartments in JVC, available for purchase around the following approximate price points:
Area | Studio | 1-Bed | 2-Bed | 3-Bed |
|---|---|---|---|---|
| JVC | Studio 567,000 | 1-Bed 849,000 | 2-Bed 1,400,000 | 3-Bed 1,930,000 |
Business Bay
Business Bay, Dubai’s central business district, is not only a hub for corporate activities but also home to upscale residential developments. Recognising the diverse needs of residents, developers in Business Bay offer rent-to-own options for apartments.
That said, the sales price for apartments in Business Bay averages AED 3,803,000. The different apartment categories can be purchased around the following prices:
Area | Studio | 1-Bed | 2-Bed | 3-Bed |
|---|---|---|---|---|
| Business Bay | Studio 1,017,000 | 1-Bed 1,649,000 | 2-Bed 3,117,000 | 3-Bed 6,470,000 |
Downtown Dubai
The iconic Downtown Dubai, home to the Burj Khalifa and the Dubai Mall, is a symbol of luxury living. This area offers rent-to-own programs for apartments, allowing tenants to experience urban sophistication before making a long-term commitment.
The average price of buying an apartment in Downtown Dubai is AED 4,210,000. The different apartment types have the following average prices:
Area | Studio | 1-Bed | 2-Bed | 3-Bed |
|---|---|---|---|---|
| Downtown Dubai | Studio 1,466,000 | 1-Bed 2,115,000 | 2-Bed 3,857,000 | 3-Bed 6,506,000 |
Dubai Silicon Oasis (DSO)
Dubai Silicon Oasis, a technology park with residential communities, is a hub for innovation and modern living. It ranks third on the list of areas offering rent-to-own apartment schemes in Dubai. Apartments for sale in DSO have an average price of AED 665,000, while the different apartment configurations can be purchased around the following price points:
Area | Studio | 1-Bed | 2-Bed | 3-Bed |
|---|---|---|---|---|
| DSO | Studio 381,000 | 1-Bed 553,000 | 2-Bed 939,000 | 3-Bed 1,538,000 |
Jumeirah Lake Towers (JLT)
Lastly, we have Jumeirah Lake Towers. The neighbourhood is known for its stunning lakeside views and a plethora of dining options. The sales price of apartments in JLT averages AED 1,700,000.
Furthermore, the different apartment configurations in JLT have the following average sales price:
Area | Studio | 1-Bed | 2-Bed | 3-Bed |
|---|---|---|---|---|
| JLT | Studio 740,000 | 1-Bed 1,304,000 | 2-Bed 1,895,000 | 3-Bed 2,895,000 |
Additionally, International City, Al Furjan, Dubai Creek Harbour, Dubai South and Dubailand are also popular areas offering rent-to-own apartment schemes in Dubai.
FAQs
Can you register a rent-to-own property in Dubai?
Yes. The property developer can facilitate the registration of a rent-to-own property in Dubai, with the Dubai Land Department (DLD), streamlining the process for you and the financier during the initial registry.
What are the service charges for registering a rent-to-own property with DLD?
To register rent-to-own properties with DLD in Dubai, the service fees include 0.25% of the rental amount for tenants and 2% of the sale price for both buyers and sellers. Moreover, AED 10 has to be paid for the knowledge and innovation fees, separately. Developers opting for self-registration on the Oqood Portal must pay AED 1,000.
That is all about where to find rent-to-own properties in Dubai. As you embark on your journey to rent and eventually own a property in any emirate, make sure you know the rent-to-own property laws in Dubai. Moreover, consider factors like engaging with reputable developers and seeking advice from real estate agents to make an informed and rewarding decision for the future.
Besides, if you are searching for ready properties, here is a wide range of houses for sale in Dubai that can be your ideal residence.
For more on different property types in the UAE, stay connected with the dubizzle property blog.
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