Dubai Residents Hunt For New Homes As Rental Searches Jump 44%

(MENAFN- Khaleej Times) Dubai residents continued to actively search for new homes over the summer, with rental searches jumping 44 per cent year-on-year as tenants looked at everything from more affordable communities to premium neighborhoods, according to new data from Bayut.

Search trends between June 1 and August 25 showed affordability remains an important factor, but residents are also weighing location, space and lifestyle when deciding where to live.

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Some residents were looking to relocate, while others were searching for larger homes or properties that better suited their changing lifestyles.

Jumeirah Village Circle leads apartment searches

Jumeirah Village Circle attracted the highest number of views for rental apartments during the period, followed by Business Bay, Dubai Marina, Arjan and Downtown Dubai.

Jumeirah Village Circle also offered a comparatively lower entry point for tenants, with a median asking annual rent of around Dh70,000.

That compares with Dh99,900 in Business Bay and Dh120,000 in Dubai Marina.

The figures suggest tenants are increasingly weighing how much they are prepared to pay for proximity to business districts, established neighborhoods and lifestyle amenities.

Where are families looking for villas?

For villas and townhouses, Damac Hills 2 recorded the highest rental interest, followed by Mirdif, Damac Lagoons, Arabian Ranches 3 and Dubai Hills Estate.

Median asking annual rent in Damac Hills 2 stood at around Dh110,000, compared with Dh150,000 in Mirdif and Dh170,000 in Damac Lagoons.

At the premium end, Dubai Hills Estate recorded a median asking annual rent of approximately Dh385,000.

Bayut said families are considering communities across different price points, with budgets, space requirements and lifestyle increasingly influencing their decisions.

Buyers also look to Jumeirah Village Circle

The same trend can be seen among people looking to buy.

Jumeirah Village Circle attracted the highest level of apartment buyer interest, followed by Business Bay, Dubai Marina, Downtown Dubai and Arjan.

The median asking price in Jumeirah Village Circle stood at around Dh1.13 million, compared with Dh1.9 million in Business Bay.

For villas and townhouses, Damac Lagoons ranked first for buyer interest, followed by Damac Hills 2, The Valley by Emaar, Dubai South and Dubai Hills Estate.

Median asking prices across these communities ranged from approximately Dh2 million in Damac Hills 2 to Dh14.6 million in Dubai Hills Estate.

Fibha Ahmed said the 44 per cent increase in rental searches shows that summer is no longer necessarily a quiet period for Dubai property.

She said residents are becoming more methodical when choosing homes, comparing options and considering lifestyle requirements and longer-term value before making a decision.

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