According to data released recently by the popular real estate portal Bayut,
However, when it comes to apartment rents, potential tenants often look for options in the Al Nahda area, and Marina takes the second position.
These geolocation data complement the picture of the state of the Dubai real estate market in the first year half depicted by the Bayut portal in its recent report and
The Dubai customer-shifted real estate market today has created an environment that is conducive for lucrative property transactions, where end users can derive maximum benefit, the report said.
The same is confirmed by an official report issued by Dubai Land Department (DLD), which said that the number of real estate transactions in Dubai for the first half of the year increased by 33 per cent compared with the same period last year.
As for neighborhoods and residential communities, Al Nahda, Mirdif, Bur Dubai and International City dominate the rental market as the most popular, whilst
From the investor’s perspective, such suburban districts as International City might seem the most attractive, with its impressive return on investment level (ROI) upping to 9.7%, the report says.
And more, potential investors will also be happy to discover that prestigious premium areas of Dubai Marina and Downtown Dubai saw a price decline of more than 8 per cent in the H1, offering investors the opportunity to invest in luxury real estate at competitive prices, partly due to the large number of new projects, recently announced in these two areas.
As for the apartment rents, the most significant price reduction for renting a 1 bedroom apartment (by 9.1%) was observed in
In the villas sale segment, the unique man-made island of Palm Jumeirah remained the most popular location among buyers in the first half of the year, while the Mirdif district most often attracted the attention of tenants, the Bayut report said.
The only noteworthy decline in prices for villas in the first year half was observed only in Dubai Land and Mudon, and only for some properties.
“The majority of residential communities with the biggest supply last year were located in Dubai Land and Mudon, thus we can expect prices to fluctuate there, increasing or decreasing with respect of the type of projects being implemented. An increase in volume of premium class real estate units can lead to higher prices, while a greater number of available apartments can reduce the average cost of housing in these new communities," the report says.
As for villa rentals, the largest decline was recorded in the area of Umm Sukeim, the report by the Bayut portal revealed.
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