Aug 29 2012 |
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Dubai's most popular residential areas for rent in H1 2012
By Shuchita Kapur
Marina leads new Dubai areas for demand
According to Better Homes , Dubai Marina beats all other communities when it comes to rent.
"The most popular residential areas in leasing for the first half of this year was Dubai Marina," Annetta Shaw, Head of Residential Sales and Leasing, Head Office, Better Homes told Emirates 24|7.
"The Springs and Meadows recorded a 5 to 8 per cent jump in rental deals in Q1 of 2012. The increase was not that huge due to a high number of available villas but still decent considering the size of this community," Mehta elaborated.
"Executive Towers in Business Bay recorded a minimum of 10 per cent increase over the previous year and Emaar's Greens clocked a 5 to 8 per cent jump in rental deals over the same period last year," he added.
As per Asteco estimates, towards the end of H1 2012, rental rates in established quality communities achieved average increases of 6 per cent.
Apartments in Dubai Marina and Downtown Dubai were the most sought after witnessing a 10 per cent increase, with a two-bedroom apartment fetching between Dh90,000 and Dh120,000 per annum.
Within the villa category, Asteco figures show that the rent increase was seen most in Mirdiff area as demand strengthened.
"Mirdiff showed the largest increase with rent for a three-bedroom house increasing to Dh90,000 per annum a 13 per cent jump from Q1 2012. Double-digit (11 per cent) growth was also recorded in Arabian Ranches," said a report by Asteco.
© Emirates 24|7 2012
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