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New Dubai communities see most tenants move in

Dubai - These insights were provided by MoveSouq.com and Propertyfinder.ae who analysed tenants' moving requests and rental transactions to identify Dubai's 10 trending neighbourhoods in 2015.

The stabilisation of rents in Dubai has offered tenants an opportunity to upgrade their accommodation. With reports predicting a surge in rents closer to Expo 2020, tenants are wisely moving out of prohibitively expensive areas in Dubai and checking into more affordable properties, locking in rents.
As a result, established neighbourhoods in Dubai are seeing both high move-in rates and high move-out rates, while up-and-coming precincts such as Dubailand and Jumeirah Village, for instance, are seeing an influx of people moving in.
These insights were provided by MoveSouq.com and Propertyfinder.ae who analysed tenants' moving requests and rental transactions to identify Dubai's 10 trending neighbourhoods in 2015.
Dubai Marina and Jumeirah Beach Residence, Jumeirah Lakes Towers, Downtown Dubai and the DIFC, Business Bay and the Jebel Ali Village neighbourhoods are the five most established areas in Dubai, a report said. Consequently, these areas have seen the most number of tenants moving in and out. Meanwhile, the newly-developed and growing neighbourhoods of Jumeirah Village, Dubailand, Silicon Oasis and Academic City, and Jumeirah Park and Jumeirah Islands are experiencing a positive influx of people. Peripheral areas such as Mirdif, Muhaisnah, Al Warqa and Al Mizhar areas too are seeing more tenants move in.
Although rents in prime locations have seen a decrease of two to seven per cent during 2015, an infographic released by Movesouq.com and Propertyfinder.ae suggest that Dubai residents are seeking alternative solutions to find accommodation in new precincts where rents have been relatively stable and remain lower than in central districts.
MoveSouq.com used moving activity data from first to third quarters of 2015 to collate the report. Propertyfinder.ae provided average annual rental transactions during 2015.
- deepthi@khaleejtimes.com