Dubai Property: Choosing The Best Localities For Bargains
People who are hoping to invest in real estate on Dubai would certainly want to know which areas are likely going to get them some very good deals. For the bargain hunters, looking for a good deal would mean looking around and finding the best places that will not only offer the ideal property type, but the best price too.
As it turns out, bargain hunters are likely to scoop out an excellent deal by villa rental will be able to find plenty of offers along Al Furjan and Jumeirah Village Circle. This was revealed by the new data provided by Propertyfinder.
Prices of properties at Jumeirah Village Circle or JVC have experienced a drop of 11.8% from April to October of last year. Meanwhile, there was a drop of 13.9% for the prices for the same period of time at Al Furjan. The data shows that villa rents in Dubai have seen the highest decline in terms of asking prices when compared to other property types. According to the report, there are even several communities that have experienced declines in prices in double digits. Demand is arising in affordable areas. The same is true for handovers too. This means that prices are going to fall down especially with the availability of new stocks. As a result, residents in Dubai are going to have a field day as this will result in some truly attractive bargain offers.
Today, end users mostly drive the market. In addition, instead of cash buyers, long-term investors are influencing the market too, to some extent. The falling and rising of prices are somewhat temperate. It is also influenced by demand and supply as well as sentiments that are caused by both international and regional events that are economic and political in nature. It is also influenced by the movements of currency.
Mudon, Al Barsha, and Jumeirah Islands are also among the places that offer some very attractive bargain rates for villa rental. For people that are looking for apartment rentals, one of the most prominent names on the list is Dubai Land. Many people prefer it thanks to the fact that it is an option that is family-friendly. It also offers a number of brand new units too. In 2017, this area saw a total of 2,500 handovers. Completing the list are Discovery Gardens, Al Furjan, and Dubai Silicon Oasis- all of which are cited for being family friendly, have high handover rates, short commutes, as well as for being central locations.
The recent years have seen the new development market in Dubai with a variety of new projects that were being introduced. There were also delayed projects that were remnants of the boom marketing that are now resuming. Handovers for the year 2018 are slated to be more than 32,000 units. Projects that are off the plan are in oversupply. With overall supply continuing to increase, many are hopeful that this will also be met with an increase in demand.
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