Bayut Exclusive Report: Most Popular Renting Areas of Dubai, Jan 2017
With an AED 12 billion investment in the first 15 days of January, Dubai’s real estate sector has begun 2017 on a strong note. The numbers were revealed last month by Sultan Butti Bin Mejren, Director General of Dubai Land Department. Merjen had said that the market was expected to enter a new phase of momentum and growth in 2017, “as investor trust is building and certain areas of the city are attracting new interest from a variety of buyers”. So while the buying segment of the market gathers steam, Bayut.com brings you a guide to areas where renters are heading to in great numbers. Maybe your investment instinct pushes you to buy a unit in these localities for great rental returns in the future.
Apartments
As has been the case for several months, the most popular area for apartment renting in the first month of the year 2017 was Dubai Marina, the most loved neighbourhood in the city. The locality claimed an 11% share of the queries received by Bayut.com in January, meaning most searchers were looking for rental spaces in the area. Apartments in Marina area not only popular for offering beautiful waterfront views, but the area also gets its positive repute from its waterside promenades, cycling and running tracks and for being open to pets.
The second spot on the list went to Bur Dubai, which had 8% of inquiries associated to it. The busy and bustling old township of Dubai is synonymous with dhow cruises, traditional foods, shopping bargains and a laid back lifestyle. From the tradition on the second spot, the rankings took us to modern-day wonder that is Downtown Dubai on the third. The home of Burj Khalifa is known the world over for offering exclusivity, luxury and festivity like none other.
It was followed by the very practical Jumeirah Lakes Towers (JLT) on the fourth spot, where quality living meets affordability for many of Dubai’s residents. Downtown and JLT each took home a 6% share of the queries. The top five list for January was rounded up by Dubai Silicon Oasis, a true suburban oasis offering residents the best of facilities associated with quality living. The area received 5% of the inquires for rental apartments in Dubai.
Considering a move? Check out the options in these popular areas
Villas
Just like in December 2016, Mirdif retained the top spot in the list of most popular villa renting communities of Dubai in January 2017. Close to the airport, famous Mushrif Park and numerous recreational destinations, Mirdif accounted for 14% of the queries for rental villas. Al Barsha, a highly prized community along the main Sheikh Zayed Road, was at the number two spot with a 10% share of the search hits in January. Al Barsha is easily accessible through the Dubai Metro and is close to key areas like Dubai Marina, the Palm and Business Bay.
Receiving 8% of the queries, villas in Jumeirah claimed the third position on our list. It was followed by Dubailand, an extremely popular suburban community, which also had an 8% share of the search inquiries. The last spot in the list of popular villa renting communities in Dubai in January went to Arabian Ranches, which accounted for 7% of the search hits on Bayut.com.
Look for villas in these areas
Offices
The clear favourite area with businesses looking for office spaces in January 2017 was Business Bay. Having its own dedicated Metro station and operating base for some of the most sought after employers in Dubai, Business Bay is as suited to an organisation’s operations as an area can be. The second spot on the list went to JLT, which amassed 20% of the queries, followed by Sheikh Zayed Road with a 7% share of the inquiries. The fourth most popular locality with office renters was the city’s traditional business hub Deira, while the super luxury Downtown Dubai was placed fifth in January.
