Hi HH,
The cost of renting villas is in fact dropping. More good news the rent must be fixed until 2010. I would rely on the adverts in the gulf times and do expect to look at a lot of villas before you choose one. Sometimes you can negotiate on the asking price. The prices vary tremendously. I have a friend who is renting 3 bed unfurnished in a small compound for 15K so they are out there.