Dubai tenants are gripping to these locations
According to the research reports by online marketplace Service Market, Dubailand has been revealed as the most popular area to move to in Dubai, with the neighbourhood recording the highest influx of residents in 2019, which features the shifts in moving-in and moving-out activity in comparison to previous findings.
The most popular areas where Dubai residents move to in the third quarter of 2020 are:
Dubai International Financial Centre
Jumeirah Beach Residence
Top five popular areas in Dubai for sixth consecutive year with multiple projects in Dubailand and its suburbs with approximately 12.1 % of all moves:
Tenants are relocating
People are upgrading to larger apartments or villas. There has also been a rise in the number and range of incentives with rent-free periods now of up to three months, the absorption of agent fees, lower security deposits and the inclusion of Dewa bills, maintenance or chiller charges. The tenants are shifting to outskirts of Dubai due to lower rents. It is the perfect time for people who want a spacious place for good money’s worth to repack and move to a bigger place among the newer communities.
Developments in Dubai: A significant increase in the move
The Academic City, Silicon Oasis and International City have also seen an increase and mainly target the expat community, especially families with kids, promoting an improved standard of living with enough space for the kids to play and enjoy the outdoors.
The UAE has also experienced the impact of the unprecedented COVID-19 pandemic in the first half of 2020 similar to other parts of the world.
▪️ Price per sq ft in the suburban areas is generally lower as compared to other areas within the city. Rental rates of three bedroom villas in Akoya Oxygen are AED 66,000 while similar sized units in Jumeirah are around AED 157,000.
▪️ The suburbs offer wide range of private villas and townhouses with spacious rooms and more gardens. The rooms are quite useful during the pandemic when most of the people are either working from home or opting for distance learning in which case they require a home office or a separate room for studying.