By Bernd Debusmann Jr
Half of all people who moved on the Palm Jumeirah stayed in the area, according to a ServiceMarket study
Dubailand, Dubai Marina, Business Bay and JVC are the top areas in Dubai with the highest influx of new residents, according to a study conducted by online services marketplace ServiceMarket.
According to the study – which is based on an analysis of moving requests placed through ServiceMarket – Dubailand accounted for 8.56 percent of move-in requests, compared to 8.34 percent in Dubai Marina and JBR, 7.77 percent for Business Bay, DIFC, Downtown and the Burj Khalifa area, and 7.05 percent for JVC and JVT.
The remaining areas were Dubai Silicon Oasis (4.15 percent), Tecom, The Greens and The Views (3.87 percent), JLT (3.83 percent), Dubai Motor City and Sports City (3.39 percent), Palm Jumeirah (3.28 percent) and Al Nahda (3.04 percent).
In a statement, ServiceMarket said that Dubailand’s relative popularity is likely largely a function of its location, lower rent rates and availability of freehold properties for purchase compared to areas such as Downtown and Dubai Marina.
“Besides getting better value for money, residents of this neighbourhood are also likely to face less traffic and can benefit from an abundance of new facilities like shopping malls, schools and theme parks,” the statement added.
The more established Dubai Marina and Downtown areas, on the other hand, are popular because of their central locations and proximity to Dubai’s most popular attractions.
When it came to retention rates – or residents moving within their same area – Palm Jumeirah took the top spot, with 50 percent of moving requests, followed by Dubai Marina/JBR (49 percent), Business Bay and DIFC (48 percent) and JVC and JVT (48 percent).
The study also found that a total of 53.26 percent of the influx of residents in just ten areas of Dubai.
Dubailand, Dubai Marina and Downtown have been in the top three most popular areas in Dubai since 2017.For all the latest real estate news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.