How to Look for Rental Villas in The Lakes
As an ever-increasing multinational workforce migrates to Dubai each year to pursue their careers in a multicultural open city, it's easy to see why villas for rent in Dubai are prevalent. Dubai is one of the few densely-populated megacities without a housing scarcity.
Top Considerations when looking for villas for Rent in The Lakes
Real estate deals in Dubai have skyrocketed. Dubai has rapidly become one of the few safe megacities, driving up demand for real estate from overseas buyers. The domestic market is also growing as locals and expats seek better villass for rent with more facilities and stricter security.
In Dubai and Abu Dhabi, villas properties for rent are more expensive than in the other emirates. That's to be expected since both are central locations in the UAE. The good thing is that there are a lot of real estate properties in the emirates that are for rent. That means, regardless of your budget, you will be able to find a good villas for rent in Dubai. Check out the below sections to find out whether buying a villas in The Lakes is the right thing for you.
Villas Rent Prices in The Lakes
The first step in your search for villas is establishing your budget. houza is the first property portal in the UAE to introduce transactional and trend data directly for consumers with the launch of The Price Widget; a tool which sits on houza.com when property seekers are browsing for villa for rent. The Widget includes average price per square foot for villas for rent on a building and bedroom level, as well as % changes MoM for The Lakes. The feature is powered by transactional sales data and listing rental data provided from Reidin Data Analytics.
The average price of a villa for rent in The Lakes is 660,530 AED. The most affordable unit in The Lakes is located in Ghadeer, while the highest priced unit is located in Hattan.
What makes The Lakes stand out?
When buying or renting a property, the location is a crucial deciding factor. Ideally, you should rent an villas in Dubai close to work to avoid traffic and costly transport expenses. If you have children, nearby schools should also be considered. Check the location of essential facilities such as a church, hospital, and supermarket. You may need to find the middle ground when going through your checklist, so categorize the facilities based on importance.
houza recently introduced "Tips & Insights" for a growing selection of neighborhoods such as Dubai Marina, Dubai Hills Estate, Business Bay, Dubai Downtown, and many more. The new section is the aggregated result of surveying property agents from the UAE's top real estate agencies in efforts to answer the everyday questions property seekers like yourself have when selecting a neighborhood such as "What is the rental demographic in The Lakes?", "What facilities are available to me in The Lakes?", "What are the means of transportation in The Lakes?", along with handpicked tips from The Lakes property experts to help you make the best decision when renting a villas property in The Lakes.
Additional Considerations when renting a villas in The Lakes
Utilities: Create a list of the utilities you can and can't live without. The number of rooms and the sizes of the bathroom and kitchen are typical considerations. But also think of other amenities like a parking spot, a bathroom heater, an in-unit washer, a private balcony, elevators, extra storage, a fitness centre, and more. Check if there are amenities that require extra costs.
Pets: If you have a domestic pet or plan to get one, inform your agent and potential landlord right away. Some villass have a no-pet policy, so having the information readily available will save you time and money. If you find an villass for rent that accepts pets, be sure to inquire about the rules and restrictions to prevent problems down the road.
The agent: Whether you're buying or renting an villass in Dubai, you will need the assistance of a real estate agent. With so many agencies in the UAE, choosing the right one can be tricky. Check out authorized real estate service providers like houza to find RERA-certified agents. We have a dedicated page on finding agencies that you can work with efficiently and legally.
The Landlord: RERA mandates landlords to ensure that the villass for rent are in liveable conditions before any tenant moves in. Researching what a landlord on a rental property in Dubai can and cannot is a smart move. It's beneficial before closing the deal, but particularly after you've moved in. For instance, your landlord cannot increase the rent on the spur of the moment. Rent increases must be in accordance with RERA's Rent Index. If your landlord increases your rent on a whim, you may submit a complaint with the Rent Committee under Decree No. 26 of 2013.
Dubai Neighborhoods with similar prices to The Lakes
If you're looking for villas for rent in The Lakes, then you might also be interested in checking out communities that are similarly prices when it comes to villas for rent.
Here are 3 communities in Dubai that are similarly priced to villas in The Lakes, which sits at 77 AED/SqFt: Meadows 76 AED/SqFt), Al Markhaniya (40 AED/SqFt), & Umm Al Quwain Marina (26 AED/SqFt).
Buying versus Renting an villas property in The Lakes
Undoubtedly, purchasing a real estate property in Dubai or Abu Dhabi is an excellent investment. Both are megacities and offer tons of economic opportunities. Like renting a villas property in The Lakes, buying one has pros and cons. Ultimately, the length of your stay will heavily influence whether you rent or buy an villas. Another consideration is your financial power.
Renting an villas in The Lakes is more practical if you want to work or stay in the emirate for a few years. Even if you decide to stay for the long haul, renting an villas first will give you a better sense of what your way of life will be.
Whether you are looking to purchase or rent an villas in Dubai, houza.com provides thorough information and assistance in finding the ideal home for you.