Revealed: Dubai tenants are moving to these locations
It is the perfect time for people who want a spacious place for good money’s worth to repack their apartment and move to a bigger place.
Dubailand and its suburbs are the most popular areas where Dubai residents are moving to, according to online marketplace ServiceMarket, which provides moving, cleaning and home services in the UAE.
Downtown, Business Bay, Dubai International Financial Centre, Dubai Marina and Jumeirah Beach Residence and Bluewaters are the other most popular areas where Dubai residents move to in the third quarter of 2020.
Dubailand and its suburbs, comprising multiple projects such as Town Square, Mira Community, Akoya Damac, Remraam, and Arjan, came top of the list with approximately 12.1 per cent of all moves. Marina and Downtown have also been on the list of the top five most popular areas in Dubai for sixth consecutive year, it said.
The tenants are shifting to outskirts of Dubai due to lower rents and more spacious apartments with most of trend seen among families. With so many options to choose from amongst the newly-established projects in Dubai, it is the perfect time for people who want a spacious place for good money’s worth to repack their apartment and move to a bigger place among the newer communities.
It is important to note that the Academic City, Silicon Oasis and International City have also seen an increase. This change is mainly due to people moving to Dubai Silicon Oasis and International City.
This further elevates the premise that people are moving towards the suburbs at the outskirts of the city. These communities on the outskirts of Dubai mainly target the expat community, especially families with kids, promoting an improved standard of living with enough space for the kids to play and enjoy the outdoors.
Role of rentals
Since 2019, rental rates in Dubai have been on a downward trend due to the disparity between supply and demand as more and more projects were developed and handed over. The arrival of the Covid-19 pandemic in 2020 exacerbated the situation and further drove down the rental rates as demand for new homes dropped.
This reality could have caused the acceleration in moving requests to the outskirts of Dubai, coupled with the following potential factors:
1.Rental rates per square foot in the suburban areas are lower as compared to other areas within the city. Rental rates of 3-bedroom villas in Akoya Oxygen are around Dh66,000 while similar sized units in areas closer to the city’s center, like Jumeirah are around Dh157,000.
2.The rental costs in the suburbs are not only lower but also offer more space. Many of the suburbs offer townhouses and villas with spacious gardens and more rooms. These extra rooms can prove to be quite useful during the pandemic when most of the people are either working from home or opting for distance learning in which case they require a home office or a separate room for studying.
3.With many people still working from home, the commute factor could be less of an issue as people don’t have to travel to work or school on a daily basis. Earlier on, when moving to a new place, the proximity to the place of work or school was an important element in determining the move. However, during the pandemic, remote working has allowed residents to move to the outskirts where they can get spacious villas/ townhouses at reasonable rates without having to worry about the daily travel to and from home.
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