While many Dubai residents are currently focussing on buying affordable apartments in the city’s prominent localities, the emirate’s high-end villas will continue to attract a niche of home buyers. The exotic luxuries associated with Dubai have lured people from the farthest corners of the world. And since we are talking about lavish living, it is almost impossible not to mention designer villas built on man-made islands featuring lush green gardens, private beaches and yacht docking areas.
Dubai is also considered a safe and secure city for raising children and certain localities here are some of the best places for family living, featuring facilities like quality schools, child day-care centres, recreational areas, green spaces, hospitals, shopping areas and restaurants. It is mainly these factors that are taken into account whenever a family buys or rents a villa in the emirate. To further help these potential buyers (and tenants), Bayut.com reveals the most popular localities for buying and renting villas in Dubai in January 2016.
|4.||The Springs||The Springs|
|5.||Emirates Hills||Al Barsha|
Considering the website’s findings, it was found that people generally favoured high-end localities for buying villas in Dubai. Palm Jumeirah, Arabian Ranches and Emirates Hills are among the most expensive and ultra-luxurious localities in Dubai.
Dubailand provides a mix of quality and affordability and since the market is presently dominated by long-term investment sentiment, the locality features the best long-term investment options in the emirate. The Springs, one of the oldest villa localities, is adequately populated and the gated community provides a secure neighbourhood for raising children.
Bayut said average prices of villas in Dubailand were around AED 3,700,000. Moreover, villas in Palm Jumeirah, mostly popular among the ultra-rich, cost an average of AED 11,000,000, while Emaar’s Arabian Ranches, with its equestrian and other community facilities, offered villas at an average price of AED 4,000,000. Average prices of villas in The Springs was AED 2,700,000, while those in Emirates Hills commanded AED 24,000,000.
In the rental category, affordability took the lead over luxury, with population concentration playing an important role in people’s preferences. The presence of Jumeirah, Al Barsha and The Springs in the top five localities show that people prefer areas where families are already living and their children are provided ample opportunities of making new friends.
Per Bayut.com, average annual rents of villas in Dubailand reached AED 200,000 in January, while villas in Jumeirah were being rented out at an average of AED 234,000. Average rents of villas in Mirdif and The Springs remained close to AED 148,000 and AED 180,000, respectively. Meanwhile, Al Barsha villas, with their close proximity to Sheikh Zayed Road, featured average rents of AED 206,000.
With stabilising property prices and strong rental yields, the emirate’s real estate market is best positioned for end-users and long-term investors.
As for the expected moderate buying activity in 2016, Dubai Land Department (DLD) Director-General Sultan Butti Bin Mejren recently revealed that the emirate recorded property transactions worth AED 68.48 billion ($18.64 billion) during the first 53 days of 2016. From the look of things, one can safely say that investment sentiment in Dubai remains strong and while apartments are presently the talk of the town, it won’t be long when villas will be back in the limelight as more and more families head to Dubai to raise children in a city that offers one of the best standard of living in the world.