Revealed: Dubai’s most popular H1 2016 rental area
Bayut.com has published its list of the top five most popular apartment rental areas for the first half of 2016
Dubai Marina was the most popular apartment rental area in Dubai during the first six months of 2016.
Bayut.com’s list of top five rental areas in Dubai, which was collated using search data from the real estate portal, also includes Jumeirah Lake Towers (JLT), Bur Dubai, Downtown Dubai, and Dubai Silicon Oasis (DSO).
In H1 2016, Dubai Marina received the highest percentage of search hits, with 13% of the total number. The average apartment rent across all bed categories in the area was calculated at $41,110 (AED151,000) during the six-month period.
JLT, which came in second place, garnered 7% of Bayut.com’s total search hits during H1 2016. The area’s average apartment rent was $29,400 (AED108,000).
Bur Dubai, the third most popular apartment rental location, attracted 6% of H1 2016 searches, with average rents of $29,670 (AED109,000).
In fourth place, Downtown Dubai received 5% of search hits, with average rental prices of $44,100 (AED162,000).
The fifth most popular apartment rental area in Dubai, DSO, attracted 4% of search hits. The average rent for apartments in the area during H1 2015 was $18,780 (AED69,000).
A release issued by Bayut.com stated: “As the first half of the year draws to an end, the real estate market of Dubai has managed to garner positive response from investors that has seen values registering marginal increases in the fifth month of the year.”