Renters in Dubai have a lot to cheer in the month of April 2019 as house prices get more attractive in top villa communities.
Communities with the most savings
Among the major twelve communities, Dubai Sports City saw a sharp decline at -6.13% similar to its sale prices in Q1 of 2018. Although the community is quite a popular one, newer and more modern projects mushrooming all around Dubai city is showing the community’s maturity through declining rental prices.
Mudon Villas and Townhouses, situated in a great location on Dubai Land saw significant change in rental prices at -3.41% and at an average price of AED 1,43,447 per annum, it has become one of the more affordable villa communities in Dubai.
Motor City and Al Furjan have similar rental declines at -2.15% and -2.02% but Al Furjan appears more enticing with it lower price and a convenient location that provides access to key areas of Dubai. However for those seeking a life of excitement and plenty of entertainment, Motor City is the hotspot.
Popular Communities but prices keep declining
Jumeirah Village Triangle (JVT) and Jumeirah Islands are at the opposite sides of the price spectrum. Both declines waver around -1.50-1.52%.Though both popular in their own way, JVT caters to families seeking a community life with all amenities and facilities within hand’s reach.
Jumeirah Islands provides a plusher lifestyle with its luxury villas and beautiful vistas. Among the luxury property areas, it has managed to hold up its decline rates without overly compromising on rental yields.
Dubai Silicon Oasis known for its mid-sized homes at prices ideal for families is able to sustain the falling prices at a decent -0.91% decline whereas the top golfing community of Jumeirah Golf Estates is holding up even better inspite of high rental prices.
Good investment opportunity due to steady property prices
Jumeirah Park showed a rather low decline at -0.54% and looks somewhat pretty amidst the alarming rates of rental declines in Dubai. The Villa community had a rather uneventful month with no change in rental prices – a high achievement, one must say where many others are in the red.
Inspite of declining prices in leading communities, villas for rent appear more lucrative for renters who are looking for an upgrade from a space perspective as well as to enjoy some luxury real estate.