Dubailand, Dubai Sports City and Jumeirah Village Circle are 3 communities in great demand amongst Dubai’s prospective buyers and renters, our latest quarterly report reveals. With sale prices and asking rents in Dubai’s key communities rising and the largest proportion of future stock expected to be delivered in upcoming areas such as Dubailand and Dubai Sports City, demands from buyers and renters in these areas are seeing an upswing.
Here’s what Renan Bourdeau, propertyfinder.ae’s Managing Director and Partner, had to say about this finding.
“International City moved up one place in the list of most searched locations to buy a property in Dubai this quarter. Similarly, Jumeirah Village Circle which figured 18th in Quarter 1 jumped to 7th place this quarter. On the leasing front, Dubai Sports City performed really well, racing ahead from 18th position in 2012 to secure the 11th spot in the top searched rental communities list in Quarter 3, supporting the observation that secondary locations are improving as end users and tenants look to relocate from prime areas to more affordable neighbourhoods.”
With numerous units – approximately 3,400 – added to Dubai’s residential stock inventory in communities such as Jumeirah Park, Dubailand and Downtown Jebel Ali in the third quarter, the residential market is seeing robust recovery in tandem with economic growth, improving demographics, government spending on infrastructure, increasing housing regulation and positive investor sentiment.
“With future stock that is expected to hit the market in 2015 also located in emerging neighbourhoods such as Dubai Sports City, Business Bay and Jumeirah Village, demand for sale and rental properties in these communities is likely to continue growing,” added Bourdeau.
