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Economic Indicators
The cost of rent in Aruba can range from $800 to $2,000 per month for a one-bedroom apartment, depending on the location and amenities, with housing prices varying from $2,500 to $6,000 per square meter in the city center.
Quick Facts
Housing Market Overview
The rental market in Aruba is relatively competitive, with a high demand for apartments and houses, particularly in the city center of Oranjestad. Typical lease terms range from 6 to 12 months, with a security deposit equivalent to one or two months' rent. Tenant rights are protected by law, and renters can expect to find apartments with amenities such as air conditioning, pool, and gym. Compared to its regional neighbors, such as Curacao and Venezuela, Aruba's housing costs are relatively high, due to its strong economy and high standard of living.
The housing market in Aruba is also influenced by the tourism industry, with many apartments and houses being rented out to tourists on a short-term basis. This can drive up prices and reduce the availability of long-term rentals. However, for those who can afford it, Aruba offers a unique and desirable lifestyle, with a warm climate, beautiful beaches, and a vibrant cultural scene. The government has implemented measures to control inflation, which was 4.3% in 2019, and to promote education, with 3.6% of GDP spent on education in 2021.
Apartment Rental Prices
| Apartment Type | City Center (USD/month) | Outside Center (USD/month) | Notes |
|---|---|---|---|
| Studio / Bedsitter | $800-$1,200 | $600-$900 | small, basic apartment |
| 1 Bedroom | $1,000-$1,500 | $800-$1,200 | standard apartment with kitchen and bathroom |
| 2 Bedroom | $1,400-$2,500 | $1,100-$2,000 | family-sized apartment with extra bedroom |
| 3 Bedroom | $2,000-$3,500 | $1,600-$2,800 | spacious apartment with multiple bedrooms and bathrooms |
Property Purchase Prices
| Area Type | Price per sqm (USD) | Notes |
|---|---|---|
| City Center | $4,000-$6,000 | prime locations, close to amenities |
| Suburbs | $2,500-$4,000 | residential areas, with some amenities |
| Rural | $1,500-$2,500 | countryside, limited amenities |
Best Neighborhoods for Expats
- Oranjestad: the capital city, with a range of apartments and houses available, rent range $1,000-$2,500 per month
- Eagle Beach: a popular area for tourists and expats, with many apartments and hotels, rent range $1,200-$3,000 per month
- Palm Beach: a upscale area with many luxury apartments and houses, rent range $1,800-$4,000 per month
- Savaneta: a charming coastal town, with a range of apartments and houses, rent range $800-$1,800 per month
- Noord: a residential area, with many apartments and houses, rent range $600-$1,500 per month
Renter Tips for Aruba
- Research neighborhoods and apartments thoroughly before signing a lease
- Negotiate the rent and terms of the lease, if possible
- Be aware of scams and fake rental listings, and always inspect the property before renting
- Utilities such as electricity and water are usually not included in the rent
- Furnished apartments are common, but unfurnished apartments may be available at a lower rent
- Consider working with a reputable real estate agent to find a rental property, as they can provide valuable advice and assistance.