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As the first half of the year draws to a close, the real estate market of Dubai has managed to garner positive response from investors that has seen values registering marginal increases in the fifth month of the year, says Bayut.com. With rents holding ground across Dubai, the property website has complied a list of areas that remained the most popular with tenants looking for rental apartments in the first half of the year.
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\nDubai’s most popular apartment renting locality outshone the rest by receiving a clear majority of search results – 13 percent – during the first half of the year, says Bayut.com. The locality is famous for beautiful waterfront properties and an array of luxuries. The area features Dubai Marina Mall and its own Dubai Metro station. The average apartment rent across all bed categories in the area in the first half of 2016 was calculated as AED151,000.
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Jumeirah Lake Towers (JLT)
\nJumeirah Lake Towers (JLT) remained the second-most popular locality for tenants looking for accommodation in the first half of the year. The area received 7 percent of the searches related to rental apartments in that period, says Bayut.com. Though it’s located right across from Dubai Marina, JLT is comparatively affordable, featuring some of the best mid-end apartments in the emirate. It is extremely popular with mid- to high-income professionals. The average apartment rent across all bed categories was AED108,000.
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\nProviding one of the best high-end residential spaces in Dubai, Downtown Dubai bagged the fourth position on the list. The locality received 5 percent of the searches meant for rental apartments during the first half of the year. Bayut.com says the area is home to many high-rise apartment buildings and is especially popular among residents since it also provides some of the best views of Burj Khalifa. The average apartment rent in Downtown Dubai during the first half was recorded at AED162,000.
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\nBur Dubai fought its way into the list by accounting for 6 percent of the search hits received during the first half of the year. This locality is representative of Dubai’s traditions, culture and its history, says Bayut.com. It is also home to several popular tourist attractions including museums and historic buildings. Bur Dubai is one of the most densely populated areas of Dubai. Average apartment rent was AED109,000.
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Dubai Silicon Oasis
\nDubai Silicon Oasis made it to the top five in apartment renting localities so far in 2016 by receiving 4 percent of search results. The modern suburban locality is equipped with all basic facilities of life that cater to the residents’ needs effectively, says Bayut.com. The community is situated next to International City Phase 2 and easily accessible through the public transport network. The average rent for apartments in Dubai Silicon Oasis was AED69,000.