By Claire Ferris-Lay
Propertyfinder.ae says location was top choice in Q2 for both buyers, tenants.
Dubai Marina was the number one hotspot to buy and rent property in Dubai during the second quarter of the year, according to the latest findings by the real estate website propertyfinder.ae.
For inquiries during Q2, it accounted for 20.4 percent of search terms for sales and 15.9 percent of rentals. “Dubai Marina properties are now viewed at least once in every five searches,” said the report.
The Palm Jumeirah and Jumeirah Lake Towers both took the second hot spot with 11.8 percent for purchases and 8.1 percent of rental inquirers during the same period.
The findings also revealed that Mirdiff was the third most popular choice to rent. “Mirdiff [is] clearly the most popular choice outside of ‘new Dubai’,” noted the report.
Despite Mirdiff’s increased appeal, the research revealed that both buyers and renters are continuing to move further outside of the emirate’s more traditional residential areas to ‘new Dubai’ locations such as Palm Jumeirah and Jumeirah Lakes Towers.
International City and Discovery Gardens also remained popular choices at the lower end of the price bracket, accounting for 3.3 percent and 3.4 percent for purchases and 2.8 percent and 4.4 percent of rentals respectively.
The findings were based on about 450,000 visits to the website during Q2 2010.
Propertyfinder.ae’s property hot zone’s by location search terms
To buy, Q2 2010
Dubai Marina, 20.4%
Palm Jumeirah, 11.8 %
Jumeirah Lakes Towers 11.2%
Arabian Ranches, 6.5%
Jumeirah Beach Residence, 5.9%
To rent, Q2 2010
Jumeirah Lakes Towers, 8.1%
Palm Jumeirah, 6.3%
RERA yet to resolve the non finished tower of Al-Areifie.Pending for long period. Since three years the tower is in same condition giving EXPRESSION OF NON COMPLETION IN EVERYBODY'S EYES when passing the main Sheikh Zayad Road.NEED URGENT ACTION FROM RERA.