Propertyfinder.ae, the UAE’s leading property portal, revealed that Dubai Marina, Dubailand and Downtown were the most searched locations by renters on the site during the month of April – three communities that have consistently figured in the list of top rental neighbourhoods .
Achieving 17% of the total searches, Dubai Marina remains the hot favourite amongst renters given the community’s waterfront ambience and popularity amongst expats. In second place was Dubailand, a residential district that has received much attention lately for its affordable pricing and upcoming infrastructure, garnering close to 9% of the searches for rental properties on the site. In third place was Downtown, with 8% of the views.
“Since we released our quarter one report recently, we’ve noticed certain trends that are recurring and others that have accelerated. Whilst Dubai Marina also topped the list of rental communities in quarter one, we see Dubailand move up two spots from its 4th position last quarter. Downtown, on the other hand, has moved down one place since quarter one, probably due to the surge in rents given its status as one of Dubai’s most affluent, expensive and vibrant districts. Interestingly, despite rental increases, we see Arabian Ranches, a premier villa community that did not figure in the top 10 in Q1, move up to 9th place in April. With escalating rents in Dubai a source of concern for many residents, it is perhaps not too surprising then that well-priced areas such as Dubailand are moving up the list of most searched communities,” said Renan Bourdeau, Deputy CEO of propertyfinder.ae.
Aside from rises in leasing prices for apartments and villas, Dubai is also seeing an increase in rental demand given its growing expat population and visitor numbers, increasing corporate activity and the Expo opening up trade opportunities.
“Compared to January this year, views of Dubailand properties have risen by 50% whilst Dubai Sports City properties have enjoyed a 33% hike in renter interest. With most of the upcoming residential supply expected to be handed over in Dubailand, Dubai Silicon Oasis, Dubai Sports City and Jumeirah Village – areas which serve the middle income housing segment – it seems likely that more people will be driven to renting in these areas over the course of this year as leasing prices continue to soar,” added Bourdeau.
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Tuesday, April 29- 2014 @ 10:47 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.