Dubai tenants prefer to live in Marina, Downtown and JLT

Dubai Marina is the most-searched community by apartment tenants and prospective buyers.

Dubai Marina is the most-searched community by apartment tenants and buyers, according to propertyfinder.ae. It has retained the top spot for another year, attracting nearly a fifth of all monthly searches (19 per cent) on the portal. Downtown Dubai and Jumeirah Lakes Towers are joint second for the second most popular community.

The majority of rental searches are for one-bedroom apartments (39 per cent), followed by two-bedroom units (35 per cent), while just two per cent of people are looking to rent a four-bedroom property.

While Palm Jumeirah retains fourth spot for a second year, Dubai Sports City has leapt four places, taking fifth place, with five per cent of monthly apartment searches.

"It's very interesting to see the rise of Dubai Sports City and new communities Dubai Silicon Oasis and Al Nahda entering the top 10 for the first time. This is a reflection of apartment renters' desire for cheaper housing," said Lukman Hajje, propertyfinder Group CCO.

"There is a noticeable gap between the asked price per square foot and what people are willing to pay in every community."

Price gap
The biggest gap between asking price and willingness to pay is evident in Palm Jumeirah rental properties, with people wishing to pay Dh18 less per square foot than landlords are asking for.

When it comes to buying villas, people are still searching for the same communities as last year - Arabian Ranches, The Springs and Jumeirah. These areas retain the top three spots as last year.

People are more willing to pay closer to the asking price in these three areas, with the asking price per square foot for an Arabian Ranches villa averaging just Dh6 more than what people are willing to pay.

Asking and buying prices match up in The Springs, while people looking to buy in Umm Suqeim are most dissatisfied with the asking price. These buyers want to pay Dh16.5 less than what sellers are asking for.

When it comes to buying, most site visitors search for a three- or four-bedroom property, underlining that families are buying, while singles are hunting for the perfect studio in Dubai Marina.

While 13 per cent of buyers hit Arabian Ranches to look for a home, Jumeirah Islands has garnered three per cent of searches.

Apartment buyers search most for Dubai Marina properties, (21 per cent of searches), but look to pay Dh243 less than the asking price. Downtown Dubai is also pulling in apartment buyers. Jumeirah Village Circle is proving popular with apartment buyers.

- deepthi@khaleejtimes.com