Residents have shown increasing interest in renting units in established Dubai communities such as Jumeirah and Umm Suqeim, according to research by Cluttons.
The company's April 2010 property market overview found many people are choosing to rent or purchase properties in these older low-density areas, as well as other well-established communities with amenities such as schools, medical services, shops and outdoor areas.
According to the report, a contributing factor to this trend is the fact that rents in Jumeirah and Umm Suqeim have fallen 45 per cent from their peak. Steve Morgan, head of Cluttons UAE, says with the greater choice now available in the marketit's not surprising that more residents are opting for quality lifestyle locations.
"Areas that offer a community feel include The Springs, The Greens, The Meadows, Arabian Ranches and Dubai Marina," he says. "The opening of the new flyover at The Greens has greatly reduced congestion; those previously put off by rush hour delays may now consider it a viable option."
He believes that both investors and developers can learn from this trend towards community-oriented living.
"If a development is complete, it must have a direction, a focus and a USP - and this does not necessarily mean high-end luxury."
Overall, rents have declined by an average of 5.5 per cent across Dubai compared to the previous quarter, although some areas have been affected less.
"All areas have suffered but developed and mature communities have been affected less than others," says Steven. "It is fair to say that a well-located, good product has logically fared better: a one-bedroom Tiara Residence on Palm Jumeirah still commands a rent in the region of Dh120,000."
Average villa rents in Dubai have fallen by 4 per cent in the past quarter, slightly more robust than apartment rates, which have declined by 6 per cent, the report found.
