Property Prices in Dubai: H1 2019 Market Analysis By Bayut

As we move into the second half of 2019, it is time to take a look at the property price trends in the Dubai real estate market. To get a comprehensive look at how property prices in Dubai have changed over the course of the last six months, we have compared prices between H2 of 2018 to H1 of 2019.

Bayut’s real estate market analysis report shows that property prices in Dubai continue to be attractive for both tenants and investors. For renting, there is a perceivable shift in interest towards affordable areas. Reasonable communities such as Al Nahda, Mirdif, Bur Dubai, Deira, International City and competitively priced suburban neighbourhoods like Dubai Silicon Oasis (DSO) and Jumeirah Village Circle (JVC) dominate the list of popular areas for rentals.

In terms of the real estate price trends in Dubai for investors, we can see a rise in demand for more upscale properties like Palm Jumeirah, Arabian Ranches, Dubai Marina and Downtown Dubai.

With respect to average ROI, Dubai continues to be attractive for global investors with average rental yields of up to 9.7% overall in International City. Please note that actual ROI in the area can vary depending on the type of property you own.

These attractive rates coupled with the country’s new laws and residency visas have put Dubai on the global map for property investments.

Here’s a closer look at our H1 2019 market report for property prices in Dubai for renting and buying in the top 10 areas.

DUBAI MARINA RETAINS ITS CROWN AS THE MOST POPULAR AREA TO BUY APARTMENTS

TOP 10 AREAS TO BUY APARTMENTS IN DUBAI

POPULAR AREAS	ROI	STUDIOS Avg. Sales PriceChange from H2 2018	1 BED APT Avg. Sales PriceChange from H2 2018	2 BED APT Avg. Sales PriceChange from H2 2018
Dubai Marina	ROI 6.6%	STUDIOS Avg. Sales PriceChange from H2 2018 750,000 -9.1%	1-BED APT Avg. Sales PriceChange from H2 2018 1,100,000 -8.3%	2-BED APT Avg. Sales PriceChange from H2 2018 1,800,000 -10.0%
Downtown Dubai	ROI 5.6%	STUDIOS Avg. Sales PriceChange from H2 2018 977,500 -0.3%	1-BED APT Avg. Sales PriceChange from H2 2018 1,400,000 -9.1%	2-BED APT Avg. Sales PriceChange from H2 2018 2,550,000 -5.6%
International City	ROI 9.7%	STUDIOS Avg. Sales PriceChange from H2 2018 235,000 -7.8%	1-BED APT Avg. Sales PriceChange from H2 2018 340,000 -9.3%	2-BED APT Avg. Sales PriceChange from H2 2018 690,000 -1.4%
Palm Jumeirah	ROI 5.5%	STUDIOS Avg. Sales PriceChange from H2 2018 1,150,000 0.0%	1-BED APT Avg. Sales PriceChange from H2 2018 2,100,000 -6.7%	2-BED APT Avg. Sales PriceChange from H2 2018 2,400,000
Jumeirah Village Circle (JVC)	ROI 6.9%	STUDIOS Avg. Sales PriceChange from H2 2018 405,000	1-BED APT Avg. Sales PriceChange from H2 2018 728,000 -4.2%	2-BED APT Avg. Sales PriceChange from H2 2018 1,100,000 0.0%
Jumeirah Lake Towers (JLT)	ROI 7.8%	STUDIOS Avg. Sales PriceChange from H2 2018 565,000 -4.2%	1-BED APT Avg. Sales PriceChange from H2 2018 898,000 -5.5%	2-BED APT Avg. Sales PriceChange from H2 2018 1,325,000 -5.4%
Dubai Sports City	ROI 7.8%	STUDIOS Avg. Sales PriceChange from H2 2018 380,000 -5.0%	1-BED APT Avg. Sales PriceChange from H2 2018 597,000 -5.2%	2-BED APT Avg. Sales PriceChange from H2 2018 850,000 -5.6%
Dubai Silicon Oasis	ROI 7.7%	STUDIOS Avg. Sales PriceChange from H2 2018 350,000 -6.7%	1-BED APT Avg. Sales PriceChange from H2 2018 540,000 -3.6%	2-BED APT Avg. Sales PriceChange from H2 2018 850,000 -10.5%
Jumeirah Beach Residence (JBR)	ROI 6.2%	STUDIOS Avg. Sales PriceChange from H2 2018 1,00,000	1-BED APT Avg. Sales PriceChange from H2 2018 1,315,000 -7.7%	2-BED APT Avg. Sales PriceChange from H2 2018 1,749,876 -7.9%
Business Bay	ROI 6.2%	STUDIOS Avg. Sales PriceChange from H2 2018 750,000 -1.2%	1-BED APT Avg. Sales PriceChange from H2 2018 990,000 -8.1%	2-BED APT Avg. Sales PriceChange from H2 2018 1,512,000 -5.4%
Not available due to low/no historical inventory or influx of off-plan properties

In H1 2019, Dubai Marina continues to be a favoured choice for investors looking to buy apartments in the Dubai property market. The property prices in Dubai to buy apartments in Dubai Marina experienced substantial decreases across all units this time around. Average prices for studios are down by 9.1% from AED 825k in the last six months of 2019 to an average of AED 750k now, while 1-beds have dipped by 8.3% from AED 1.2M to AED 1.1M. The average prices for 2-bedroom flats in Dubai Marina also went down from AED 2M in the last six months of 2018 to AED 1.8M.

The heart of the city, Downtown Dubai retains the second position as a popular area to buy apartments in Dubai for H1 of 2019. The prices on average have fallen here in line with trends we have observed since H1 2018, with a noticeable decrease of 9.1% for 1-beds from AED 1.54M to AED 1.4M presently. The sales prices for 2-bedroom apartments in Downtown Dubai went down slightly from AED 2.7M to AED 2.55M while studios for sale remain at an average AED 977.5k.

Other locations that attracted attention from investors with respect to the apartments for sale in Dubai are Palm Jumeirah, Jumeirah Village Circle (JVC), Jumeirah Lake Towers (JLT), Dubai Sports City, Dubai Silicon Oasis, Jumeirah Beach Residence (JBR) and Business Bay. Overall, the property prices to invest in Dubai apartments in these areas have gone down by 5% to 8%. The only significant change is a 10.5% decrease for 2-beds in Dubai Silicon Oasis where the prices went down from AED 950k to AED 850k in H1 2019. Other noticeable changes are a 9% slide for average prices to buy 1-bedroom flats in International City from AED 375k to AED 340k. The units prices that remain stable include 2-beds in JVC which still average AED 1.1M and studios in Palm Jumeirah at AED 1.15M.

The decrease in property prices in Dubai not been very dramatic but they have made luxury areas such as Marina and Downtown more accessible for potential investors.

BEST BUILDINGS IN DUBAI MARINA TO BUY APARTMENTS

best towers with apartments for sale in Dubai Marina-2019 — Top towers with apartments for sale in Dubai Marina

The most popular building in Dubai Marina to buy apartments is the Marina Pinnacle, a high-end residential tower that stands tall at 77 storeys. The apartments for sale in Marina Pinnacle offers buyers a choice of 1, 2 and 3 bedroom apartments. Investors can expect to pay a minimum of AED 610k for a 1-bed, AED 870k for a 2-bed and AED 1.12M for a 3-bed.

The next popular buildings with apartments for sale in Dubai Marina include the Marina Diamonds, followed by Horizon Tower, Manchester Tower and DEC Towers.

FLATS IN INTERNATIONAL CITY HAVE THE BEST AVERAGE RENTAL RETURNS IN DUBAI

Investors looking at buy-to-let properties in Dubai will find that the apartments for sale in International City offer the most impressive overall average ROI of 9.7% in H1 2019. The second-highest average ROI for apartments in Dubai is for the units in JLT and Dubai Sports City at 7.8% and Dubai Silicon Oasis at 7.7%. These percentages can vary depending on the property type.

AL NAHDA DUBAI IS THE MOST DESIRED AREA WITH APARTMENTS FOR RENT IN DUBAI

TOP 10 AREAS TO RENT APARTMENTS IN DUBAI

POPULAR AREAS	STUDIO Avg. Yearly RentChange from H2 2018	1 BED APT Avg. Yearly RentChange from H2 2018	2 BED APT Avg. Yearly RentChange from H2 2018
Al Nahda	STUDIO Avg. Yearly RentChange from H2 2018 33,000 -5.7%	1-BED APT Avg. Yearly RentChange from H2 2018 40,000 -4.8%	2-BED APT Avg. Yearly RentChange from H2 2018 52,000 -7.1%
Dubai Marina	STUDIO Avg. Yearly RentChange from H2 2018 52,250 -5.0%	1-BED APT Avg. Yearly RentChange from H2 2018 80,000 0.0%	2-BED APT Avg. Yearly RentChange from H2 2018 115,000 -4.2%
Bur Dubai	STUDIO Avg. Yearly RentChange from H2 2018 40,000 -2.4%	1-BED APT Avg. Yearly RentChange from H2 2018 58,999 -1.7%	2-BED APT Avg. Yearly RentChange from H2 2018 80,000 -4.2%
Deira	STUDIO Avg. Yearly RentChange from H2 2018 32,000 0.0%	1-BED APT Avg. Yearly RentChange from H2 2018 52,000 -5.5%	2-BED APT Avg. Yearly RentChange from H2 2018 75,000
International City	STUDIO Avg. Yearly RentChange from H2 2018 24,000 -7.7%	1-BED APT Avg. Yearly RentChange from H2 2018 34,000 -5.6%	2-BED APT Avg. Yearly RentChange from H2 2018 51,000 -5.6%
Jumeirah Village Circle (JVC)	STUDIO Avg. Yearly RentChange from H2 2018 36,000 -5.3%	1-BED APT Avg. Yearly RentChange from H2 2018 54,000 -1.8%	2-BED APT Avg. Yearly RentChange from H2 2018 78,000 -2.5%
Dubai Silicon Oasis	STUDIO Avg. Yearly RentChange from H2 2018 32,000 -5.9%	1-BED APT Avg. Yearly RentChange from H2 2018 45,000 -6.3%	2-BED APT Avg. Yearly RentChange from H2 2018 73,000 1.4%
Jumeirah Lake Towers (JLT)	STUDIO Avg. Yearly RentChange from H2 2018 48,000 -4.0%	1-BED APT Avg. Yearly RentChange from H2 2018 67,000 -6.9%	2-BED APT Avg. Yearly RentChange from H2 2018 95,000 -5.0%
Dubai Sports City	STUDIO Avg. Yearly RentChange from H2 2018 34,999 0.0%	1-BED APT Avg. Yearly RentChange from H2 2018 48,000 -7.7%	2-BED APT Avg. Yearly RentChange from H2 2018 67,999 -8.1%
Downtown Dubai	STUDIO Avg. Yearly RentChange from H2 2018 65,000 -4.4%	1-BED APT Avg. Yearly RentChange from H2 2018 89,999 -5.3%	2-BED APT Avg. Yearly RentChange from H2 2018 125,000 -7.4%
Not available due to low/no historical inventory or influx of off-plan properties

The budget-friendly neighbourhood of Al Nahda is the most searched area by Bayut users, for apartment rentals in Dubai. The prices for rental flats in Al Nahda reduced across the board with 2-beds seeing the highest decline of 7.1% from AED 56k in H2 2018 to AED 52k in H1 2019. As for the other units, studios and 1-beds experienced marginal declines at the 5% mark. Studios in Al Nahda dropped from an average of AED 35k in the second half of 2018 to AED 33k now. The 1-BHK flats in Al Nahda are down from AED 42k to AED 40k.

Coming in second is the waterfront destination of Dubai Marina. The prices for renting flats in Dubai Marina also reduced marginally by 5% on average, with studios going from AED 55k in H2 2018 to AED 52k this year and 2-bedroom apartments declining from AED 120k to AED 115k. The 1-bedroom apartments in Dubai Marina experienced no change, remaining stable at an average of AED 80k for the first six months of 2019.

The other areas that made it to the top 5 neighbourhoods for renting apartments in Dubai include Bur Dubai, Deira and International City indicating a rising demand for budget-friendly neighbourhoods in the Dubai real estate market.

The property prices in Dubai for renting in these areas decreased in the first six months of 2019 within the range of 2% to 5% with the exception of Deira. Rents for 2-beds in Deira experienced a substantial decline from AED 87k in the second half of 2018 to AED 75k now, which can be accounted to price-sensitive tenants, who are negotiating better deals, leading to competitive pricing from the landlords, especially in the older parts of the city. The other area that saw a noticeable decline is International City where prices for studios went down by 7.7% and are now averaging at AED 24k.

Following the top five, we have neighbourhoods such as JVC, Dubai Silicon Oasis, Jumeirah Lake Towers (JLT), Dubai Sports City and Downtown Dubai rounding up the list of popular areas to rent flats in Dubai.

Al NAHDA 2 EMERGES AS THE MOST POPULAR SUB-COMMUNITY TO RENT IN AL NAHDA

best area in Al Nahda with flats for rent — Al Nahda 2 is one of the most popular areas for renting flats in Dubai

The affordability, wealth of amenities and the presence of many schools have made living in Al Nahda highly desirable for families.

As per our analysis of rental trends in Al Nahda Dubai, Al Nahda 2 is more popular with potential tenants bringing in 76.8% of the searches in the area. It is home to the Al Nahda Pond Park and has some of the best schools in Al Nahda in its vicinity. As per Bayut’s latest listings, prices for the flats for rent in Al Nahda 2 start at AED 20k.

Now let’s take a look at the property prices in Dubai for buying villas.

PALM JUMEIRAH IS THE FIRST CHOICE FOR BUYING VILLAS IN DUBAI

TOP 10 AREAS TO BUY A HOUSE IN DUBAI

POPULAR AREAS	ROI	3 BED VILLA Avg. Sales PriceChange from H2 2018	4 BED VILLA Avg. Sales PriceChange from H2 2018	5 BED VILLA Avg. Sales PriceChange from H2 2018
Palm Jumeirah	ROI 3.2%	3 BED VILLA Avg. Sales PriceChange from H2 2018 6,250,000 -2.1%	4 BED VILLA Avg. Sales PriceChange from H2 2018 9,800,000 -2.0%	5 BED VILLA Avg. Sales PriceChange from H2 2018 18,500,000
Arabian Ranches	ROI 6.0%	3 BED VILLA Avg. Sales PriceChange from H2 2018 2,599,000 -6.7%	4 BED VILLA Avg. Sales PriceChange from H2 2018 3,675,000 -3.2%	5 BED VILLA Avg. Sales PriceChange from H2 2018 4,500,000 -4.3%
Dubailand	ROI 5.7%	3 BED VILLA Avg. Sales PriceChange from H2 2018 1,350,000 0.0%	4 BED VILLA Avg. Sales PriceChange from H2 2018 1,999,000	5 BED VILLA Avg. Sales PriceChange from H2 2018 2,625,000 -9.2%
The Villa	ROI 4.6%	3 BED VILLA Avg. Sales PriceChange from H2 2018 1,290,000	4 BED VILLA Avg. Sales PriceChange from H2 2018 3,499,995 -4.1%	5 BED VILLA Avg. Sales PriceChange from H2 2018 3,750,000 -1.3%
The Springs	ROI 6.3%	3 BED VILLA Avg. Sales PriceChange from H2 2018 2,300,000 -2.1%	4 BED VILLA Avg. Sales PriceChange from H2 2018 2,825,000 -2.6%	5 BED VILLA Avg. Sales PriceChange from H2 2018
DAMAC Hills (Akoya by DAMAC)	ROI 4.9%	3 BED VILLA Avg. Sales PriceChange from H2 2018 2,400,000 -7.0%	4 BED VILLA Avg. Sales PriceChange from H2 2018 2,800,000 -2.8%	5 BED VILLA Avg. Sales PriceChange from H2 2018 4,950,000
Mudon	ROI 6.2%	3 BED VILLA Avg. Sales PriceChange from H2 2018 1,572,000 0.0%	4 BED VILLA Avg. Sales PriceChange from H2 2018 2,300,000 -6.1%	5 BED VILLA Avg. Sales PriceChange from H2 2018 3,900,000 -9.3%
Emirates Hills	ROI 3.6%	N/A: Emirates Hills has 6-beds and larger units. Refer to the writeup for more info.
Arabian Ranches 2	ROI 4.8%	3 BED VILLA Avg. Sales PriceChange from H2 2018 3,000,000 0.0%	4 BED VILLA Avg. Sales PriceChange from H2 2018 3,758,888 -1.1%	5 BED VILLA Avg. Sales PriceChange from H2 2018 4,500,000 -0.9%
The Meadows	ROI 5.0%	3 BED VILLA Avg. Sales PriceChange from H2 2018 3,499,725 -5.3%	4 BED VILLA Avg. Sales PriceChange from H2 2018 4,000,000 -4.8%	5 BED VILLA Avg. Sales PriceChange from H2 2018 5,000,000 -2.0%
Not available due to low/no historical inventory or influx of off-plan properties

Moving up from the second position in H2 of 2018, luxury villas in Palm Jumeirah are now the most popular area in Dubai to buy villas. The sales prices for villas in Palm Jumeirah have experienced a marginal drop compared to those seen in H2 2018, averaging at AED 6.25M for 3-beds and AED 9.8M for 4-bedroom units. However, the larger 5-bedroom villas in Palm Jumeirah have seen prices take an upswing due to the addition of more expensive properties, raising sales prices from AED 16M to AED 18.5M now.

The upscale houses on sale in Arabian Ranches come in as the second most popular choice for investors looking to buy villas in Dubai, where prices have dipped, in line with the trends seen across the real estate market. Prices for 4 and 5-bed units changed marginally and stand at AED 3.67M and AED 4.5M respectively. Only the cost of 3-bedroom Arabian Ranches villas experienced a perceptible decrease of 6.7% going down from AED 2.78M in H2 2018 to AED 2.6M now.

Dubailand, The Villa, The Springs, DAMAC Hills (Akoya by DAMAC), Mudon, Emirates Hills Arabian Ranches 2 and The Meadows are other popular areas with villas for sale in Dubai.

The exclusive community of Emirates Hills is another area garnering a substantial interest from high-profile investors. The most popular properties for sale here are the luxurious 6-bedroom villas in Emirates Hills where prices went down by 8% from AED 34M to AED 30.9M in H1 2019. This is followed by 7-bedroom villas in Emirates Hills that average at AED 44.75M in H1 2019.

SIGNATURE VILLAS IS THE MOST POPULAR COMMUNITY TO BUY VILLAS IN PALM JUMEIRAH

Top places to buy villas in Palm Jumeirah — Best neighbourhoods to buy villas in Palm Jumeirah

Signature Villas in Palm Jumeirah has attracted the most amount of investor interest in H1 2019 when it comes to villa investments. This area is known for ultra-luxurious villas that come in larger units of 5, 6 and 7 bedrooms. The lowest sales price that investors can expect here is AED 14M as per current listings on Bayut. Other popular communities to buy villas in Palm Jumeirah include Garden Homes Palm Jumeirah, Canal Cove, The Crescent and Palma Residences.

VILLAS IN THE SPRINGS AND MUDON HAVE THE BEST AVERAGE ROI IN DUBAI FOR HOUSES

According to property price trends in Dubai, The Springs, Mudon and Arabian Ranches offer the best average rental return for H1 2019 at the 6% mark. This is followed by Dubailand, where the villas deliver an average ROI of 5.7%. Another area from the Dubai real estate market that has a good rental return is The Meadows, which offers an ROI of 5%. Please not that this is the ROI for the overall area and can change based on individual unit types.

MIRDIF REIGNS AS THE MOST POPULAR AREA FOR RENTING VILLAS IN DUBAI

TOP 10 AREAS TO RENT VILLAS IN DUBAI

POPULAR AREAS	3 BED VILLA Avg. Yearly RentChange from H2 2018	4 BED VILLA Avg. Yearly RentChange from H2 2018	5 BED VILLA Avg. Yearly RentChange from H2 2018
Mirdif	3 BED VILLA Avg. Yearly RentChange from H2 2018 110,000 0.0%	4 BED VILLA Avg. Yearly RentChange from H2 2018 120,000 -5.5%	5 BED VILLA Avg. Yearly RentChange from H2 2018 130,000 -7.8%
Arabian Ranches	3 BED VILLA Avg. Yearly RentChange from H2 2018 145,000 -6.5%	4 BED VILLA Avg. Yearly RentChange from H2 2018 220,000 0.0%	5 BED VILLA Avg. Yearly RentChange from H2 2018 250,000 -1.9%
Jumeirah	3 BED VILLA Avg. Yearly RentChange from H2 2018 165,000 0.0%	4 BED VILLA Avg. Yearly RentChange from H2 2018 185,000 -2.6%	5 BED VILLA Avg. Yearly RentChange from H2 2018 220,000 -6.4%
Al Barsha	3 BED VILLA Avg. Yearly RentChange from H2 2018 160,000 0.0%	4 BED VILLA Avg. Yearly RentChange from H2 2018 175,000 -5.4%	5 BED VILLA Avg. Yearly RentChange from H2 2018 206,500 -6.1%
The Springs	3 BED VILLA Avg. Yearly RentChange from H2 2018 150,000 0.0%	4 BED VILLA Avg. Yearly RentChange from H2 2018 190,000	5 BED VILLA Avg. Yearly RentChange from H2 2018
Umm Suqeim	3 BED VILLA Avg. Yearly RentChange from H2 2018 160,000 -8.6%	4 BED VILLA Avg. Yearly RentChange from H2 2018 180,000 -10.0%	5 BED VILLA Avg. Yearly RentChange from H2 2018 230,000 -8.0%
Al Warqaa	3 BED VILLA Avg. Yearly RentChange from H2 2018 135,000 3.8%	4 BED VILLA Avg. Yearly RentChange from H2 2018 150,000 0.0%	5 BED VILLA Avg. Yearly RentChange from H2 2018 185,000 -2.6%
Jumeirah Village Circle (JVC)	3 BED VILLA Avg. Yearly RentChange from H2 2018 115,000 -4.2%	4 BED VILLA Avg. Yearly RentChange from H2 2018 130,000 -7.1%	5 BED VILLA Avg. Yearly RentChange from H2 2018 140,000 -3.4%
The Villa	3 BED VILLA Avg. Yearly RentChange from H2 2018 150,000 0.0%	4 BED VILLA Avg. Yearly RentChange from H2 2018 159,900 -5.9%	5 BED VILLA Avg. Yearly RentChange from H2 2018 178,000 -6.3%
DAMAC Hills (Akoya by DAMAC)	3 BED VILLA Avg. Yearly RentChange from H2 2018 110,000	4 BED VILLA Avg. Yearly RentChange from H2 2018 152,500	5 BED VILLA Avg. Yearly RentChange from H2 2018 180,000
Not available due to low/no historical inventory or influx of off-plan properties

In the first six months of 2019, the family-friendly villa community of Mirdif remained the first choice for Bayut users looking at villas for rent in Dubai. The property prices in Dubai for renting in Mirdif has not changed drastically in the past six months. The average price for renting 3-bedroom villas in Mirdif is unchanged at AED 110k and 4-bedroom houses dropped by 5.5% from AED 127k in H2 2018 to AED 120k now. The 5-bedroom houses for rent in Mirdif saw a higher decline of 7.8% where average prices went down from AED 141k in the last six months of 2018 to AED 130k now.

The suburban freehold neighbourhood of Arabian Ranches came in second for renting villas in Dubai. The average prices for the villas in Arabian Ranches have remained largely unchanged with average rents for 4 and 5 bedroom units standing at AED 220k and AED 250k respectively. The only noticeable change is a 6.5% dip for 3-bedroom rental villas in Arabian Ranches with prices going down from AED 155k in H2 2018 to AED 145k presently.

Other locations that attracted attention from renters for villas in Dubai are Jumeirah, Al Barsha, The Springs, Umm Suqeim, Al Warqaa, JVC, The Villa and DAMAC Hills (Akoya by DAMAC).

Property price trends in Dubai reveal that these popular areas saw modest declines, mostly under 8%. The only exceptions were Umm Suqeim and DAMAC Hills (Akoya by DAMAC), where prices decreased substantially for certain units between 10-12%, over the first half of 2019. Renters will also be happy to note that prices for 5-bedroom villas in Umm Suqeim have declined by 10% from AED 200k to AED 180k.

As for DAMAC Hills (Akoya by DAMAC), prices for 3 bedroom villas dropped from AED 125k to AED 110k and 5-bedroom houses went down from AED 200k to AED 180k. The change in property prices in DAMAC Hills (Akoya by DAMAC) can be attributed to the fact that it is a fairly new development.

With more handovers being completed, we can expect prices to fluctuate and either increase or decrease depending on the type of handover. More luxury deliveries could result in an increase and affordable units, may bring the price down further.

VILLAS FOR RENT IN UPTOWN MIRDIF ARE THE MOST POPULAR IN MIRDIF

Best areas with villas for rent in Mirdif — Top places to consider when looking for a house for rent in Mirdif

The villas for rent in Uptown Mirdif are the most popular for rent in the area. As per Bayut’s latest listings, the lowest rents for 3 and 4-bedroom houses in Uptown Mirdif are AED 80k and AED 85k respectively. Shorooq Mirdif is the other popular community in Mirdif for renting villas.

OFF-PLAN PROJECTS IN THE DUBAI REAL ESTATE MARKET

Top off-plan projects in Dubai — 5 Best off-plan developments in the Dubai property market

There are several attractive areas for investors looking at the top off-plan projects to invest in Dubai. The most popular among these in Akoya Oxygen, followed by the highly ambitious Mohammed Bin Rashid City (MBR City) development. In Akoya Oxygen, the most popular sub-community is the upscale Just Cavalli Villas, which boast designer villas at affordable price points starting from AED 1.05M.

Other suburban communities such as JVC and Dubai South, which provide easy access to the EXPO 2020 site are also favourites when it comes to off-plan investments in Dubai.

The off-plan projects in established neighbourhoods such as Palm Jumeirah, Downtown Dubai, JLT and Business Bay are good options for those looking at investing in Dubai. Other areas of note include Dubai Hills Estate, Dubailand and Dubai Studio City all of which offer a good value for money in terms of property investments in Dubai.

FORECAST FOR H2 2019

Commenting on the trends seen so far, Haider Ali Khan, the CEO of Bayut said:

“The first six months of 2019 have been dynamic for the overall Dubai market. Prices have continued to drop in key areas but there are more discussions concerning property investments in the region as a result of the permanent residency and long-term visa announcements. Dubai is also a competitive option compared to other cosmopolitan cities such as London, Shanghai, Singapore and Sydney, offering a similar standard of living at a much more affordable price point. This trend towards increased investor interest in the region is also reflected in DLD’s recent updates about real estate transactions going up by 33% in 2019 compared to the same period last year.”

“It’s natural for every market to go through fluctuations but if end-users capitalise on resources, such as our market trends data, they will be better equipped to make more informed investment decisions. Today, consumers can take advantage of the competitive prices available now and enjoy returns as the market becomes more of a sellers market. There are some really good smart payment plans available in Dubai which are hard to find anywhere else in the world. That coupled with the new initiatives launched by the government in the past year, could lead to more expats considering the city as a long-term option, resulting in more investment in Dubai real estate”, he added

That concludes this report on the property prices in Dubai. Keep an eye out on the Market Trends section of our blog for the in-depth H1 2019 market reports on Abu Dhabi, Sharjah and Ajman price trends.

Disclaimer: The above report is based on prices advertised by real estate agencies on behalf of their clients on Bayut.com, and not representative of actual real estate transactions conducted in Dubai.

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Dubai property market report for H1 2019: Prices continue to be affordable in the first half of 2019