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• Jumeirah Lakes Towers (JLT), Dubai Motor City, Business Bay and The Greens are considered Dubai’s most attractive mid- and upper-mid-range communities. They benefit from appealing offerings such as landscaped open areas and high-quality amenities. Motor City aside, all are situated along Dubai Metro.
• Asteco says families prefer the open spaces in JLT, Motor City and The Greens as these are good for children. Business Bay appeals more to singles and couples.
• Despite a market slowdown, these communities performed relatively well this year. Rents went up by an average 6 per cent, with JLT witnessing the highest growth of 14 per cent. However, this mostly took place early in the year, and the second half saw average quarterly decreases of 1 per cent for the above areas.
• JLT saw more transactions than any other mid-range community last year, coming fourth in the emirate after Dubai Marina, International City and Downtown Dubai.
• With rents rising for high-end and prime properties, residents are searching for more affordable options that still offer community facilities and quality finishing. As such, mid-range apartments have performed well over the past quarter with an average increase of more than 5 per cent all across Abu Dhabi. Danet Abu Dhabi and Al Rayyana have recorded even stronger rental growth, up by 10 per cent respectively, as they are particularly popular for teachers and middle management due to their proximity to a number of schools, good quality, facilities and amenities.
• A number of mid-range projects are expected to be handed over this year, including many on Reem Island, which might affect rental rates and prices of mid- and low-range units all over the capital.
• It should be noted that only units on Reem Island can be purchased by non-UAE nationals, whereas all the other developments are exclusively available on lease or, in some cases, for UAE freehold ownership.
Source: Property Weekly