Wednesday, May 1, 2013

Dubai real estate has regained its status of fast progressing and profitable industry in the region. The Q1 market report of residential real estate sector display high efficiency. Positive economic activities improve real estate developers and investors confidence to start new projects all over the UAE. Dubai is known as safe-haven in Middle Eastern region due to its lowest crime rate and stable political conditions. Such favorable economical and political conditions efficiently drag attention of wealthy and middle-class individual from neighboring regions of Asia and Europe. As more foreigners stared considering Dubai to live, work and business directly increases demand of residential and commercial real estate across the emirate. Higher demands for rental and for sale properties also increase asset prices and rents. According to recent rent index update by RERA for year 2013, specific Dubai communities and apartment projects are showing exceptional rise in rent rate.

Residential Rental Hot Spots in Dubai for year 2013

Arabian Ranches 

Arabian Ranches offers exclusive lifestyle facilities in variety of freehold villas and townhouses. It is established in the heart of desert located on Emirates roads, which heads to Abu Dhabi, Al Ain and Dubai. Residents can enjoy fine dining, exotic bars and entertainment/retail facilities within the community. For year 2013 rental rate for villas showed 22% hike.

Jumeirah Islands

 It is a housing development, which consist of 50 small islands. 46 clusters are exclusively used for residential purposes whereas remaining four clusters are used for Club House, restaurant, supermarket, gym and leisure facilities. Each residential cluster comprises of 16 villas. Recent rent index showed total percentage rise of 6.4% in villa rental rate.

Palm Jumeirah

The project itself considered as the 8th wonder of the world. This destination is known to provide highly luxurious living in collection of villas and apartments. It provides idyllic beachfront residences for luxury lovers. In year 2013 this community has earned the status of highly prices community to rent a villa. Rental rates for four-bed villa units ranges between AED300,000 and AED400,000 per annum.

The Greens

The Greens is a residential project of Emaar Builders consists of mid-rise apartment buildings that provide studios and one to four bedroom apartments. The project is located in close proximity to the Emirates Golf Club, Dubai Internet City and Dubai Media City. Highest rise around 28% in rent has observed for 2 bed apartments, 22% for studios and 15% for one bedroom apartments. This community is very famous among expats.

Dubai Marina

 Dubai Marina is the world largest man-made Marina. This neighborhood is also famous as new Dubai. Most of the Western and European expats prefer to live here as it offers stunning accommodation in high rise towers along with finest restaurants. Emaar built 6 high-end towers in this Marina that provide luxury accommodation and premier retail outlets. It is also showing 18% rise in rental rates for two bedroom apartments.

Downtown Dubai

Downtown Dubai is a dazzling and ultra modern neighborhood that strongly supports Emirate’s image as a global player. It offers urban lifestyle amenities, incredible entertainment and tourism spots. Accommodation options include villas and apartments, which are located among stunning retail and entertainment spots. This community houses world’s largest mall, The Dubai Mall, world’s largest aquarium, iconic Burj Khlifa, The Address Hotel and residences. It comes on third position in terms of rental rise. Total 16% hike in rental cost for two bedroom apartments has observed.

Residents are showing great interest to find accommodation in areas that are well connected with main roads and metro stations. Further they also consider accessibility to retail and entertainment amenities in area.


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