Dubai is considered one of the best places to live peacefully and luxuriously. By renting a place in Dubai, you can enjoy all the luxuries this cosmopolitan city has to offer. The most popular areas to rent an apartment here are Jumeirah Village Circle (JVC), Al Nahda, Mirdif, Dubai Silicon Oasis, and Akoya Oxygen, according to a new report released on the 10th of January.
Zoom Property on Monday disclosed that the rental value of studios and one-bedroom apartments at Jumeirah Village Circle increased by 1.44 per cent, 1.29 per cent, and 4.76 per cent, respectively, in the third quarter of 2021.
As a result of Expo 2020, which took place for six months, rental activity has increased nearby. One location that has benefited from this is Dubai South. In addition to this, Mirdif and Akoya Oxygen are also in high demand for affordable villas, followed by JVC and JVC Terraces. Additionally, high rentals are seen in Reem and Dubai South.
Several factors led to the strong recovery in the rental market, including the return of foreign investors and efficient dealing with the pandemic. A major part of the reason for the market boom is Expo 2020 Dubai, which is attracting visitors from across the globe, said Ata Shobeiry, CEO of Zoom Property.
According to ValuStrat, in 2021 sales transactions broke previous records and capital values mostly reached their pre-pandemic levels. The report forecasted that citywide price and rent increases will continue to grow through 2022, but at a lower, healthier rate due to economic reforms and an accelerated vaccine program.
According to Zoom Property, the most popular high-end areas in 2021 were Dubai Marina, Downtown, Jumeirah Beach Residence (JBR), Palm Jumeirah and Al Barsha. The most popular area for people looking for luxury villas in Dubai is Jumeirah; other options include Al Barsha, Umm Suqeim, Dubai Hills Estate, and Arabian Ranches.
Rental rates in Dubai Hills and Arabian Ranches rose by 40 per cent due to high demand. Gulf Realtor offers a wide selection of affordable and expensive properties in these Dubai communities to buyers.
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