An Healthy Demand for Property in JVC
The most popular neighbourhood in Dubai for tenants looking for affordable housing in the emirate is Jumeirah Village Circle.
North 43 , the latest residential development in JVC, is in high demand in the community for those who are looking to invest in this vibrant community.
Rental Prices
1. Rental costs in Jumeirah Village Circle were up 7 % to 16 %.
2. Averaging at AED34,000, AED48,000 and AED70,000, for studios 1-bed and 2-bed units.
Popular Areas for Affordable Housing in the Emirate with 2 to 21 %
1. Al Nahda
2. Bur Dubai
3. Business Bay
4. Deira
Note: The costs for luxury flats have gone up to 43 %.
Popular Areas for Affordable Villas in the Emirate with 7 % Rise
1. Mirdif has emerged as the most preferred area. ]
2. Suburban areas of JVC, Dubailand and The Springs have also sought the attention of tenants with 29% increase in rental prices.
Moderate Fluctuations
5 % was seen in DAMAC Hills 2.
Rental Prices of Luxury Apartments & Villas
- Al Barsha reporting a 15% rise in four and five-bed units.
- Rental prices for flats in Dubai Marina rose from 16% to 22% with an average cost of a one-bed unit priced at AED 88,000.
- Rental costs at Downtown Dubai rose from 3% to 43%.
- Rental flats at Palm Jumeirah with 22% rise, over the six months.
Quick Facts
- JBR, with a staggering growth in rental prices for one and three-bedroom units, whereas two-bedroom apartment rates declined under 3%.
- Jumeirah continues to attract high-income tenants looking out for luxury villa rentals as prices have increased from 14% to 17%.
Rental Yields & Sales Over Six Months
1. Affordable apartments at Dubai Sports City has emerged as profitable with an 8.04% growth in yields.
2. Dubai Marina and DAMAC Hills showed a return-on-investment of 6.97% and 6.53%.
3. Arabian Ranches 2 saw a 6.12% rental returns.
4. Sale prices for villas & apartments, with rise from 1% to 19%.
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