Dubai City Guide: Dubai Properties – Apartments For Rent
Dubai city guide: Dubai properties – apartments for rent
Planning to relocate to Dubai? Read this quick guide to get an insight into Dubai properties market outlook for 2017. Further in the article, we also pick a question regarding short-term, affordable rentals in Dubai. But first, lets look at the property trends for 2017.
Dubai Properties: January 2017. General Trends:
Continue to notice families down-sizing on living costs (when buying or renting). More expensive and bigger properties remain on market for much longer periods of time.
January 2017 certainly witnessed an uptick in sales closing activity. However, as per Dubai Land Department reports: transaction volumes are marginally slower Year on Year; though, value of transactions has increased Year on Year.
Continuous mental shift in the market for investors, home-owners and industry professionals that stability is the ‘new market norm’.
Many investors are convinced that the continued global economic and political shifts will benefit Dubai a lot.
Feeling is that, 2017 could end up being quite similar to 2016; i.e. slow and steady; and more consolidation. The market is certain that off-plan sales will be slow; which will be a benefit for this market.
2017 could also notice seeing prolonged periods of overseas buying activity as Dubai capitalizes on its hard earned image of stability, progress and diversification.
Off-Plan Trends 2017:
Majority of demand noted for studios and 1 bedroom units on a payment-plan basis; a developer that launches projects with the right studio / 1 bed feasibility can still sell-out pretty quickly.
Secondary resales of off-plan remains low with only a handful of developments (mainly near completion ones) drawing wide-spread attention. However, many projects still command a premium and there is absolutely no indication of a lot of negative premium sales.
Developers are paying attention on existing developments rather than new mega developments. The pace of sales is steady but not as expected.
Q: “I am going to relocate to Dubai for a 6 month on an onsite role. Which are the areas with reasonable rent near Academic City?”
Answer: Warm greetings from
You are already good luck as two very good and most affordable housing communities in Dubai are very close to Academic city.
Nearest one is Dubai Silicon Oasis (6 kilometers. 5–10 minutes by Taxi/Car). Annual rent of a Studio ranges between Dhs. 42–48,000 and 1BHK ranges between Dhs. 55–65,000.
Little further is International City, around 15 kilometers, 15–20 mins by Taxi/Car. Annual rent for a Studio ranges between Dhs. 32–40,000 and 1BHK for Dhs. 40–47,000.
There is a fine mix of different communities at Dubai Silicon and International City, both.