Each month, Bayut.com reveals the top areas in Dubai for buying and renting both apartments and villas, along with price trends and comparisons to January 2018. This report is focused on how the Dubai property market fared in February 2018, based on listings and user searches on Bayut.com
- Apartments for rent in Dubai Silicon Oasis were the most popular
- Jumeirah was the most popular area for users interested in renting a villa
- Dubai Marina apartments was once again the most popular area for those looking to buy apartments
- Arabian Ranches was the most searched for area with villas for sale
Dubai Silicon Oasis overtakes Dubai Marina as the top area to rent apartments in Dubai
The most popular area for renting an apartment in February 2018 in Dubai was Dubai Silicon Oasis. Rents for 1 and 2 beds here were AED 55k and AED 80k respectively, representing a 0.20% drop for the latter while the former stayed stable. The price of studios in the neighbourhood dropped 5% to AED 38k.
Last month’s most searched for area, Dubai Marina came in third place. Rents of studio, 1 and 2 beds here were AED 62k, AED 88k and AED 130k respectively. The annual rent of 2-beds remained the same as in January 2018, but studios dropped by 4.62% and 1 beds increased by 3.53%
Jumeirah is the most-searched for area for villa rentals
The neighbourhood of Jumeirah was the most searched for area by Bayut.com users. 3-beds here were listed at an average annual rent of AED 177.5k, dropping by less than 2%, 4-beds decreased by 8.33% to AED 220k and the rent of 5-beds stayed the same as in January 2018 at AED 280k.
The most affordable area to rent a villa in February 2018 is Mirdif, even though prices of 3-beds increased to AED 115k. However, 4-bed properties here declined by 3.85% to AED 125k.
Apartments for sale in Dubai Marina are the most searched for in February
Just as in January 2018, the most popular area for those looking to buy an apartment in Dubai is Dubai Marina. The average sale price of studios increased slightly to AED 85.4k while 1 and 2 bedrooms here declined to AED 1.2M and AED 2.02M, i.e., by 4.25% and 7.95% respectively.
The expected average ROI for apartments in Dubai stayed relatively stable as compared to January 2018 at 6.58% – less that 1% more than what it was in January.
Villas for sale in Arabian Ranches were the most searched for in February 2018
Once again, the most searched for area by people looking to buy a villa is Arabian Ranches. The average sale price of villas here increased slightly compared to the previous month. Three bedroom villas in Arabian Ranches were listed at AED 3.12M, (0.8% more), 4-beds at AED 4.25M (1.2% more) and 5-beds at AED 5.2M (3.3% more).
The average ROI for villas in February increased by 1.34% compared to January, ending at 5.29%.
Summary of sale and rent trends in Dubai over February
The property market in Dubai showed stability in February 2018, with the greatest price fluctuations caused by the influx of off-plan properties in certain areas.