The hottest areas for overseas property investors and tenants in Dubai have been revealed in a new report from real estate website Property Finder.
The popular residential neighbourhood of Dubai Marina, known for its beachside living, has emerged as the most sought-after location for property buyers, while the upscale Downtown Dubai, home of the world’s tallest tower, has generated a lot of interest from renters.
Real estate analysts have said that regardless of the perceived slowdown, there is still a substantial amount of investor interest in Dubai’s housing market from both local and international buyers.
Dubai Marina attracted the highest number of queries from potential investors, witnessing double the number of searches as other neighbourhoods. Prices in the hottest area of Dubai Marina range from Dh1.8 million for a one-bedroom flat, while two-bedroom units cost around Dh2.1 million.
Potential homeowners were also interested in acquiring residential units in Downtown Dubai, where a one-bedroom apartment with Dubai Fountain views can cost Dh2.3 million, as well as in the Palm Jumeirah, Arabian Ranches and Jumeirah Village Circle, which rounded out the top five locations among prospective investors.
Among Dubai’s tenants, the hottest areas in the first half of 2018 were Dubai Marina, Downtown Dubai, Palm Jumeirah and Al Barsha. Between July and December last year, Al Barsha emerged as the fourth most popular area for renters, while Business Bay moved up to the fifth position.
Tenants in the hottest area of Dubai Marina can expect to pay between Dh60,000 and Dh 100,000 for a one-bedroom flat, depending on the location and views.
Rents are currently favourable to tenants in Dubai at the moment, having dropped close to 2010 levels.
Hottest Areas for Real Estate Investors
Jumeirah Village Circle
Hottest Areas for Renters