Property for Rent in Golden Mile, Dubai

The largest man-made island in the world, Palm Jumeirah is renowned for its opulent hotels and residences be it for sale or rent. But this amazing feat of engineering is much more complex than its first appearance. Among the most amazing facts and figures about Palm Jumeirah is the construction project's cost. After its construction, the magnificent Palm Jumeirah is said to have an average cost of $12 billion. The high living standards have been redefined by Palm Jumeirah. Residents can take pleasure in tranquil views of the Arabian Gulf from a number of sea-facing apartments for rent in Palm Jumeirah.

Palm Jumeirah City Guide

Residents of Palm Jumeirah come from a wide range of backgrounds. Everyone can enjoy living in the Palms, including bachelors, families, young professionals, and couples. If you're fortunate enough to have a window seat, you may be able to see the island, which has a trunk and sixteen fronds, on flights from and to Dubai. The palm Jumeirah neighbourhood guide could assist you in finding gathering places like eateries, bars, and family-friendly entertainment.

Apartments are located on the trunk and crescent of the Palm Jumeirah, along with a variety of opulent villas, townhouses, and apartments for sale. Rich signature and garden residences with beach access can be found on the fronds. According to rumours, many famous people have purchased these villas, with Football icon David Beckham amongst one of them. It is an ideal paradise when you stay in one of the villas for rent in Palm Jumeirah. Start your day with coffee on the beach, a quick dip in the water, and a view of your house as the sun sets.

Avg. Palm Jumeirah Housing Pricing Trend for Rent

The starting annual rent for studio apartments in Palm Jumeirah is AED 58k, and a 1-bedroom apartment for rent in Palm Jumeirah, the starting price is AED 101k. Rent trends tend to be on the higher side of the range because of the area, the views, and the luxurious construction. A 2-bedroom apartment for rent in Palm Jumeirah would approximately cost AED 124k, while 3-bed apartments for rent start at AED 159k. 

Similar to this, a larger unit measuring 4,500 square feet, such as a 4-bedroom apartment for rent in Palm Jumeirah, will cost you about AED 319,000. There are 3, 4, and 5-bed units in Tiara that you can choose from if you're looking to rent a penthouse in Palm Jumeirah. 

The return on investment for rental properties can reach 5%. Apartments with a studio or one-bedroom have the highest index. Both visitors and foreigners who come to Palm Jumeirah for  study or work demand them. Villas with six and seven bedrooms have the lowest profitability index at 1.6-1.9%.

Property Types Available with Avg rent Price Trend

A set of 20 mid-rise buildings can be found at Shoreline Apartments on the trunk, one of the various developments. The Palm Jumeirah Dubai project is at the top of the list of the most well-liked developments, offering a variety of 1 to 4-bed apartments for rent. The structure offers opulent penthouses measuring 5,640 square feet for rent. In addition, Shoreline Apartments has duplex 4-bedroom penthouses for rent, with various prices from AED 3.8M to AED 10M.

On the fronds of the Palm Jumeirah, Garden Homes offer its exclusive villas for rent after Shoreline. The homes in this group have private pools and lawns, as the name would imply. Garden Homes offer 4 to 5-bedroom villas for rent at comparatively reasonable rates.

Similarly to that, anyone looking to rent independent residences frequently chooses Signature Villas. With some homes providing views of the Atlantis resort, the sub-community is situated on the fronds. There are 5-bed and 6-bed versions of these opulent villas. A 6-bedroom home can be rented for AED 2.4M, and a 6-bedroom Signature Villa for rent on Palm Jumeirah can cost around AED 18.2M.

Avg Cost of Living in Palm Jumeirah 

Jumeirah Islands has a relatively high cost of living because the area only has luxury villas. Luxurious properties throughout the Jumeirah Islands can be rented by individuals who have the financial means to pay a minimum cost starting from AED 200k to AED 500k annually. 

Renting a property in Palm Jumeirah can cost you anywhere between AED 908,000 and AED 16,000,000 for one-bedroom options. Two-bedroom apartments start at AED 1,406,000 and go up to AED 19,500,000, while three-bedrooms cost AED 1,850,000 and go up to AED 23,610,000. When compared to other locations these rental prices are comparatively high. This indicated that the average cost of living in Palm Jumeirah is relatively expensive. 

Palm Jumeirah Lifestyle

It is no secret that the Palm Jumeirah lifestyle is among the most opulent in Dubai and the rest of the UAE. The advantages of the area offer numerous opportunities for the rental industry. However, keep in mind that these properties call for specialised building management, allowing you to fully capitalise on these advantages and opportunities. Due to their many benefits, some of the rental apartments in Palm Jumeirah are constantly in high demand. 

One thing at Palm Jumeirah that never fails to be appealing is the waterfront views. As a result, one of the best benefits of renting apartments or villas in Palm Jumeirah is their proximity to the coast. As a result, they offer magnificent waterfront views of the azure water blending with the blue sky.

Local Scoop

The Monorail : Palm Jumeirah is regarded as an island, however, there are many ways to connect it to Dubai's "mainland." We're talking about both public and private transportation here. And the Palm Jumeirah Monorail is available for use as a means of public transportation.

At the end of 2020, the monorail began at the Palm Gateway station, which is close to the tram stop, and ended at the Atlantis Aquaventure Waterpark station, which is located right next to one of Dubai's top tourist destinations.

Aquaventure Waterpark : The Atlantis Aquaventure Waterpark in Palm Jumeirah is one of the top Dubai attractions. There are more than 30 water rides, slides, and other fun and entertainment activities. The aquarium is filled with over 65,000 marine animals, 11 million litres of water, and stunning sea views. Because of all this, many people adore the Palm Jumeirah. And all of this can be found near your rented apartment or villa.

Wildlife : The likelihood of seeing dolphins is always high due to the area peeking out into the ocean. Additionally, the pandemic helped the entire wildlife of Palm Jumeirah, in fact, the whole world. Since there were fewer people around, marine animals were able to return from far-off parts of the ocean to areas near the land.

Explore The Palm Jumeirah Area 

Schools

A wide range of schools are located close to Palm Jumeirah, which is highly praised by families with school kids. They all have a unique curriculum. And by identifying and nurturing their students' potential, they all try their hardest to help them develop into individuals who will have great opportunities. Some of the best schools around Palm Jumeirah are:

• • GEMS Wellington International School
  • Dubai College
  • American School of Dubai

Restaurant

There are fantastic facilities for upscale dining and shopping in Palm Jumeirah. Numerous fancy restaurants are always prepared to serve customers their delectable cuisine from a variety of cultures. A lot of them have stunning waterfront views. And they all offer first-rate service and a wonderful dining experience. Some famous restaurants on Palm Jumeirah are:

• • Palm Bay Dubai 
  • Seagrill Bistro
  • The Shore
  • The Edge
  • Plaj

Shopping Malls

There are supermarket chain locations in residential complexes along the island's "trunk." Allday Fresh, Choithrams, Cherry Express, and Spinneys are a few of them. The developer is a 4-story freestanding mall. The Nakheel Mall has a lot of shops and a big movie theatre

The Golden Mile Galleria is regarded as a luxury shopping complex that offers a tonne of entertainment. There are about 70 international brand-name stores, a fitness centre, as well as eateries and cafes. The biggest shopping centres are located in Dubai Marina and Dubai Mall, which can be reached by residents in 20 to 30 minutes by car.

Cafes

There are various opulent cafes in Palm Jumeirah, some of which are:

• • The Delisserie
  • Revo Cafe
  • Caffe Buono
  • Milk & Honey Cafe
  • Lime Tree Cafe

Nightlife

Tourists from across the world visit Palm Jumeirah for its exclusive nightlife. There are a number of clubs and bars where you can see the thriving nightlife of Palm Jumeirah. Some of these serve only alcohol while some serve shisha (hookah) as well which is quite famous in UAE. Some of the best places where you can flaunt your dance moves are:

• • Provocateur NightClub
  • Bling 
  • NU AIR Shisha Lounge
  • Meshico Club
  • C Club

Commuters

There are no Metro stations in Palm Jumeirah as of now. However, the nearest metro station to Palm Jumeirah is Nakheel metro and Dubai Internet City metro station. You can easily book a can or rent a taxi from these metro stations to reach Palm Jumeirah. 

Palm Jumeirah Monorail is another mode of transportation the commune can opt for. Palm Jumeirah is also known to be the first monorail that connects the Mainland to Palm Jumeirah. Most of the tourists as well as the locals use the monorail for commuting. The monorail is also a tourist attraction as you can enjoy the breathtaking view of the entire Palm Jumeirah Island from a unique perspective. 

Commune can also make use of the tram services offered by the government for easier and hassle free commuting. Currently, the Dubai Tram has 11 stations. 

The timings are:

• • 6 am to 1 am from Saturday to Thursday
  • 9 am to 1 am on Fridays.

Note: Dubai Tram runs at an interval of 10 mins at the peak hours and an interval of 12 mins during the off-peak hours.