Ajman is the cheapest place to rent an apartment in the UAE, three times cheaper than Dubai, reveals a new study.
In Ajman, average asking price to rent an apartment is Dh30 per square foot and Dh22 per sqft for villas, slightly less than Dh34 per sqft for apartments and Dh24 for villas in Sharjah. Average asking price for apartment rents in Ras Al Khaimah is Dh52 per sqft and Dh38 for villas.
According to Propertyfinder figures, Ajman also offers best rental yields for apartments of 9.6 per cent in the country, too. This is compared to 7.75 per cent in Ras Al Khaimah and 6.41 per cent in Sharjah. For villas, the best rental yield is offered in Ras Al Khaimah at 5.65 per cent followed by 5.55 per cent in Ajman and 3.7 per cent in Sharjah.
According to Propertyfinder trends, Ras Al Khaimah is the most expensive option of the Northern Emirates. But it gets points for being the least volatile, dropping in price by less than one per cent for an apartment or to rent a villa. The emirate is also setting itself up to draw crowds over the coming years, both of the tourist and residential variety.