Dubai: Dubai’s residents are heading for the suburbs… or al least thinking about it.
That’s why locations such as Wasl Gate and Town Square are now among the more popular ‘out of city’ choices for residents, both when it comes to renting and buying as well as in terms of searching for a suitable property.
“While the listed properties across Tilal Al Ghaf, Al Muhaisnah, Wasl Gate, Town Square, Mira, Rukan and Dubai Harbour did not increase significantly throughout the year, these areas seem to have grown exponentially in popularity,” says the latest update from PropertyFinder.
“The market has witnessed a surge in demand for larger and more spacious units situated on the outskirts of the city. People are starting to venture further away from the epicenter in search of alternative communities.”
Head start
In this regard, Nshama’s Town Square will be one of the main beneficiaries, having already set itself up as a location where more units are being delivered regularly. Listings show a one-bedroom apartment (with chiller thrown in) with an asking rent of Dh28,000.
Emaar’s Mira – where a three-bedroom home starts from Dh84,000 - and Arabian Ranches remain steadfast on the popularity side, if residents want a place some distance away from high-rise clusters.
Need for more (with less?)
Going by what Dubai residents are searching for when it comes to property, the need for more space is right up there. Top keywords through the year included ‘upgraded’, ‘furnished’, ‘pool’, ‘payment plan’ and ‘sea view’, according to PropertyFinder.
Yes, having to deal with COVID-19 and all the attendant issues had all to do with it. And it helped that rents were under pressure across the city.
In the second-half of the year, most searched were ‘chiller-free’, ‘upgraded’ and ‘new’, “further emphasizing that people are leveling up their living solutions”.
Upgrade mindset
“Despite the uncertainty and instability this year, Dubai real estate saw an increased appetite for upgraded housing solutions – be it to a larger, more spacious home situated on the outskirts or even if a move to a smaller space, but in a more prime location,” the portal reports.
“People are looking to set themselves differently. The number of villa and townhouses searches have increased by 400 per cent since the start of the year, as compared to apartment searches that have witnessed a drop.
“Given the accessibility of the current real estate market, people are also looking to upgrade to more prime locations including the likes of The Springs, Dubai Marina, Jumeirah Lakes Towers and Arabian Ranches.”
