September 19, 2019 Today’s Paper
  • Bahrain
  • Kuwait
  • Oman
  • Qatar
  • Saudi Arabia
  • UAE
  • Countries News:

Dubai Marina is the most popular area in Dubai market in 2018

UAE - February 20, 2019

Dubai Marina was the most popular area in which to buy a home in the first half of 2018. The area witnessed twice as many searches as the runner-up, Downtown Dubai.

The top five most searched for areas by prospective buyers were rounded out by the Palm Jumeirah, Arabian Ranches and Jumeirah Village Circle.

For the second half of the year, the top four areas remained unchanged in the second half of the year, although Jumeirah Village Circle fell four spots and was replaced by Jumeirah Lakes Towers.

Property prices are now below construction costs, so buying in this market represents fabulous intrinsic value.

For renters, the most in-demand areas in H1 2018 were found to be Dubai Marina, Downtown Dubai, Palm Jumeirah, Jumeirah and Al Barsha.

In the second half of the year, Al Basha moved to fourth place, while Business Bay went to fifth.

Dubai apartments’ advertised rental asking prices have dropped 30% in the last two years, with more than half that in the last 12 months alone.

As more supply is handed over to owners in areas including Town Square and Dubai Hills Estate, it is expected to see more demand generated in those areas as the population will expand and spread out from the centre.

Also, the user sentiment toward the off-plan sector was strictly for investment purposes, while the majority preferred the secondary market when it came to purchasing for personal use.

Share this page

x
Join our and be

Keep up with the latest market trends, offers, news, view and how-tos through our newsletter.