It was followed by Al Nahda, Mirdif, Silicon Oasis and Akoya Oxygen.
“Jumeirah Circle” is the most popular destination for residential rentals during 2021
Expo 2020 contributed to the recovery of the Dubai real estate market.
From the source
A report by Zoom Property Insights stated that the "Jumeirah Village Circle" area is the most popular destination for affordable residential rental properties in Dubai during 2021. Al Nahda, Mirdif, Silicon Oasis and Akoya Oxygen are also ranked second after Jumeirah Village Circle. .
In the luxury housing sector, the highest number of searches was recorded for "Dubai Marina" and Downtown Dubai, while the areas of "Jumeirah Beach Residence", Palm Jumeirah and Al Barsha maintained consistent performance throughout the year.
The report pointed out that there was an increase in the rate of renting apartments and villas, last year, thanks to the continued recovery from the Corona pandemic, noting an increase of 3% in the rate of apartment rents, as tenants preferred large spaces in order to provide more spaces for remote work.
The rental value of villas in some areas of Dubai has increased by nearly 40% thanks to the great demand for destinations such as Dubai Hills Estate and Arabian Ranches.
Atta Shbeiri, CEO of Zoom Property Insights, said, "The return of foreign investors and the effective handling of the Corona pandemic, were among the main reasons that led to the strong and rapid recovery of the real estate rental sector.
The launch of (Expo 2020 Dubai) also had an important and main role in the recovery of the real estate market.”
He added: “When we talk about apartments with moderate rental values, we find that JVC maintained its position as the preferred choice for renters in Dubai last year.
As it is famous as a family-friendly area, it has witnessed an increase in rental rates and demand.”
With regard to high-end apartments, "Dubai Marina" occupied the top of the list during 2021, which also included Downtown Dubai, Palm Jumeirah, and Jumeirah Beach Residences.
The report stated that a significant increase in demand for affordable villas was observed in Mirdif, Akoya Oxygen, Jumeirah Village Circle, Al Reem District and Dubai South City.
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