Dubai: The Springs is attracting more mid-income expatriates as villa rents continue to follow a southward trend, property companies and residents said.
Rents in the New Dubai community have witnessed sharp drops and a standard two-bedroom villa in the residential community that cost Dh110,00 a year ago is now going for an average of Dh75,000.
Like Mirdif, the once-upmarket community now fits into the affordable accommodation category. The community's elite have left, or moved on, and are now renting their villas to mid-income families. With an online search showing a two-bedroom villa in Springs 10 available for a yearly rental of Dh70,000, Springs living is now within everyone's budget.
Loving it
Tonya Thompson, a stay-at-home mom from the United States has called Springs home for a year and a half. Despite the downward spiral of rents and constant construction, Thompson loves where she lives. Putting up with the drawbacks is a minor swap for the lifestyle the community offers her. "I love the fact that just about everyone from everywhere lives in The Springs. It's such a healthy education for my children to have neighbours from the UK, Australia, South Africa and India to play with. The community vibe is brilliant. I love how The Springs is so family-oriented," she says.
While the majority of Dubai's singles opt for high-rises and Marina-living, it's the families with children and pets that flock to The Springs. The area's sole downside, as far as Thompson is concerned, is the on-going construction. "Earlier I could drive from where I live to the Springs Town Centre, but now, due to the construction, I have to drive around the roadworks to get to the mall. So instead I purchased a bicycle and now cycle around."
Some residents believe construction is a main reason for the drop in rents.
Dubai's Real Estate Regulatory Authority (Rera) lists the average rent in The Springs at Dh70,000 to Dh100,000 for a two bedroom villa with study, and Dh100,000 to Dh140,000 for three bedrooms. Compare that to the average rent of Dh250,000 in 2008, and it's clear why more families are gravitating towards The Springs.
A spokesperson for Arch Properties Brokers said, "RERA figures talk about what the market value should be. However, actual prices are based on demand and supply. At the moment, supply in The Springs is low, so the real rents at the moment fluctuate between Dh80,000 and Dh90,000 for a two-bedroom, and between Dh120,000 and Dh170,000 for a three bedroom villa."
The area also comes with pitfalls. Construction aside, there is little to no public transport. Sivaporn Mekouar, a resident for over three years, says that without a car she would have been handicapped. "We have two shopping centres on either end of The Springs and the distance between the villas and the residences is not walkable."
The Thai mum drives her twins to the Town Centre and the area's community parks and pools every day. "Although retail options are limited, we do have almost everything in Town Centre," she says.
A quick look around reveals restaurants, jewellers, a supermarket, pet store, pharmacy, children's shops, real estate stalls and just about everything one would want for their daily retail needs.
Divided into 15 sections called Springs 1 to 15, each area is similar with identical housing of two and three-bedroom options.
Must Know Facts
- Retail: The area's two shopping centers offer host of retail options from Mothercare and Pets Delight to Tavola and Beyond Beach.
- Restaurants: There's a choice of fast food outlets, cafes and restaurants ranging from continental to Indian
- Service providers: du and etisalat operate in the area.
- Medical Facilities: Hills Community Pharmacy and the nearby Meadows Village
- Supermarkets: Spinneys and Choitrams
- Schools/Nurseries: Raffles Nursery in Town Center and Emirates International School
- Entertainment options: The nearest entertainment options are in Dubai Marina/JBR, Media City and Ibn Battuta
- Taxis: Hard to get. One needs to make bookings in advance
