Stay up to date with the latest market news
Latest trends indicate that Dubai tenants have been increasingly moving from apartments to villas and townhouses since the outbreak of the Covid-19 pandemic.
The trend is driven by families’ need to have more space. Several residents continue to work from home and their children learn online.
This change in tenants’ preference was reflected in data released by Chestertons, which suggested that apartment rentals dropped 12.4 per cent, while villa rents fell just 5.3 per cent last year.
Lynnette Abad, Director of Research and Data, at Property Finder, said that at the beginning of the pandemic, searches for villa/townhouses increased 400 per cent, while those for apartments declined.
“We also predicted pent-up demand as we knew soon-to-be buyers were going to purchase properties due to attractive prices in the market and also the lowest mortgage rates we have ever seen. Since then, we have seen the results of this by having record-breaking months in November and December of 2020 for secondary/ready property,” said Abad.
Aditi Gouri, head of strategic consulting and research at Cavendish Maxwell, said after the movement restrictions ended in Dubai, there was a clear shift in demand from apartments to townhouses and villas, as people seek larger living areas with outdoor spaces.
“With the increase in demand outpacing supply and availability in case of villas/townhouses, landlords have been able to successfully demand one-cheque payments and even increase rents in some cases,” she said.
Below is a list of areas where villas and townhouses are available for annual rents of between Dh37,000 and Dh85,000 (courtesy: Property Finder).
>> Dubai South
Rent: Dh37,000 for 2-bedroom
Why Dubai South: A masterplanned community, Dubai South is preferred by those who want to be in close proximity to Al Maktoum International Airport. It is also a popular location for its proximity to Expo 2020 site. The recently-launched Dubai Metro’s Expo 2020 route makes this place more attractive for residents.
>> Area: Akoya
Rent: Dh40,000 for 3-bedroom
Why Akoya: A luxury project by Damac, people find this place peaceful. It is located in the well-established community in Damac Hills.
>> Area: Jumeirah Village Circle
Rent: Dh70,000 for 1-bedroom
Why JVC: This area is a prime residential area. It is popular among residents who work close to the Expo 2020 site and Al Maktoum International Airport. The area is preferred by families with kids, thanks to a variety of schools in the area.
>> Area: Mudon
Rent: Dh75,000 for 3 bed-room
Why Mudon: Located in Dubailand, this gated community is just a 15-minute drive from Jumeirah beach and residents can find all the necessities here such as grocery, pharmacy, nursery and health club.
>> Area: Townsquare
Rent: Dh75,000 for 3-bedroom
Why Townsquare: Located along Al Qudra Road, people move to this place because it is family-oriented. Al Qudra cycle track is near Townsquare for the health-conscious residents.
>> Area: Serena
Rent: Dh78,000 for 2-bedroom
Why Serena: A project by Dubai Properties, it offers an easier access to some important neighbourhoods such as Business Bay, Jumeirah Beach Residence, Dubailand and Jaddaf Waterfront.
>> Area: Reem
Rent: Dh85,000 for 3-bedroom
Why Reem: A relatively new community, this place offers schools, restaurants, hospitals and parks. Similar to other communities in the area, this place is a preferred choice for the Western and Arab expats.
This article was originally published in Khaleej Times
Stay up to date