January 2019 rental prices of villas and townhouses revealed that the down trend of Dubai property market continued from last year, well into the first quarter of this year. The promise though is in the transactions happening in secondary and off-plan markets, drawing attention to some of the best communities to invest in Dubai.
Rental prices attract upgrades to villa homes
Rental prices are going south and property prices follow suit. As seen in the graph below, 1.5-2% decline in rentals appears common across major neighbourhoods of Dubai. Damac Hills (Akoya by Damac), Arabian Ranches, Al Furjan, Falcon City of Wonders and Victory Heights – all popular communities saw a decline early in the year.
These beautiful and convenient communities are a good reason for renters to upgrade to villa properties as falling prices increase affordability.
Secondary market and off-plan transactions
Arabian Ranches and Arabian Ranches II are well-preferred locations by most expats. With the high number of transactions in both, secondary as well as off-plan deals, this neighbourhood continues to enamour its residents by providing easy access to all modern amenities.
For those looking for a slightly premium lifestyle, Jumeirah Golf Estates, Jumeirah Islands, Jumeirah Park and Emirates Living provides panoramic views and scenic beauty amidst the busy city life, yet catering to every need of various family members. Buying a villa here means being on a permanent vacation.
Mohammed Bin Rashid City and Victory Heights are popular for those looking at everyday conveniences such as quick access to key areas of Dubai, amenities, schools, work and activities for growing children. Houses in these neighbourhood are built to suit an active lifestyle.
Mudon and Akoya Oxygen provide the much needed established community-living that most expats look for while buying a home in Dubai. The homes here hit the sweet spot of convenience and hence easy to exchange hands in secondary market when previous owners move on to greener pastures.
Agent to fall back on
The options are endless for those seeking a home to buy or rent in Dubai. However it is not always easy to find out everything about a property beforehand. Expertise of professional, licensed agents will settle those nerves while one is on a home hunting mission with several constraints including time.
When you choose a property online, book a viewing first and talk to the agent on the listing to ensure you are comfortable with all aspects related to settling in the new neighbourhood.