Where prices have fallen in Dubai property

According to <a href="http://www.propertyfinder.ae" target="_blank">Propertyfinder.ae</a> market insights, rents have fallen between Q2 2014 and Q2 2015 in Dubai. If you’re looking to move, start your search here

Sheikh Zayed Road
Down 5%
One of the highest year-on-year declines was recorded on Sheikh Zayed Road, especially in high-end properties. Budget-conscious renters with eyes on other locations have had a strong negotiation stance.

Current price range:
One-bedroom apartment: Dhs95,000-Dhs125,000
Two-bedroom apartment: Dhs110,000-Dhs170,000
Neighbourhood tip: Dwelling along SZR means having to deal with traffic, dust and noise. Some of the older towers set back from the road offer spacious, quieter rooms.

Motor City
Down 5%
A community built of low-rise apartment blocks and townhouses built around Dubai Autodrome. This is seen as one of the more economical areas in New Dubai but is removed from most of the city attractions. If you have a car, or don’t mind being out of the thick of things, it’s an option.

Current price range:
One-bedroom apartment:
Dhs60,000-Dhs95,000
Two-bedroom apartment: Dhs115,000-Dhs170,000
Neighbourhood tip: Renters seeking large balconies should check out the Fox Hill apartments located opposite Dubai Autodrome.

JLT
Down 4%
Across the road from Dubai Marina, JLT remains popular with singles and couples seeking convenience and modern style. It boasts more or less the same access to attractions, but can be cheaper than its over-the-road neighbour.

Current price range:
One-bedroom apartment: From Dhs103,000
Two-bedroom apartment: From Dhs166,000
Neighbourhood tip: JLT is popular with young working professionals as well as families. Tenants who do not own a car and rely on the metro should seek out properties in Clusters B, C, D and E for Jumeirah Lakes Towers station and Clusters T to Y for Dubai Marina.

JBR
Down 7%
This beachside area has seen a steady decline in rates despite the emergence of better facilities. Traffic congestion continues to be the most common gripe as residents have accepted the shrinking of the beach following the opening of the excellent outdoor eating and shopping facilities and cinema in the neighbourhood.

Current price range:

One-bedroom apartment: From Dhs140,000
Two-bedroom apartment: From Dhs176,000
Neighbourhood tip: It is not the quickest method of transport, but if you find a property close to a Dubai Tram stop it can be an economical and even time-friendly way of getting out of the area.

Jumeirah Village Circle
Down 3%
This is a green, family-friendly community of villas and townhouses developed by Nahkeel. Families in Dubai are looking to secondary locations such as this in search of affordable housing and although sales are slowing down, website Dubizzle.com has this year reported a huge increase in the number of inquiries about
the neighbourhood.

Current price range:
One-bedroom apartment: From Dhs86,000
Two-bedroom apartment: From Dhs153,000
Neighbourhood tip: Developer Nakheel has planned to implement 28 new traffic signals in the area to help ease traffic woes.

Jumeirah Village Triangle
Down 3%
This is a smaller freehold neighbourhood just across the road from Jumeirah Village Circle, of mainly one and two bedroom properties. Infrastructure continues to improve in line with more availability of property, making these Al Khail Road locations more desirable.

Current price range:
One-bedroom apartment:
From Dhs115,000
Two-bedroom apartment: From Dhs223,000
Neighbourhood tip: New shopping centres and neighbourhood shops continue to be announced in the area. Look to rent close to open or forecast developments to be sure to have a steady flow of new facilities and conveniences close by.

Dubai Marina
Down 7%
Despite the emergence of many new neighbourhoods and the quest for more affordable housing, Dubai Marina remains the benchmark district for many Dubai residents. As time passes, it becomes harder to squeeze any new towers into the area, meaning rents should eventually normalise and stabilise with competition coming between neighbourhoods rather than between buildings.

Current price range:
One-bedroom apartment:
From Dhs116,000
Two-bedroom apartment: From Dhs183,000
Neighbourhood tip: Pet owners be warned – dogs are banned from Marina Walk, but if you nip over to JLT you can exercise your pooch around the lakes there.

Downtown Dubai
Down 4%
A den in Downtown puts you at the very centre of the city, between New and Old Dubai, and views of the Burj Khalifa around every corner. Long-term popularity seems guaranteed, making it a competitive (i.e. expensive) neighbourhood to break into.

Current price range:
One-bedroom apartment: From Dhs138,000
Two-bedroom apartment:
From Dhs222,000
Neighbourhood tip: Renters considering Downtown should book a viewing in developments such as Burj Views, South Ridge or Old Town especially if you’re driving as there’s easier access to Al Khail Road during peak hours. You are, however, further away from the only metro station in the area.

Business Bay
Down 2%
This area, which has a close proximity to Downtown Dubai but with a bit more distance from attractions, should appeal to renters. It means you’re close enough to see the bright lights, but far enough away that you’re not paying premiums. The fact that it is still under construction should be taken into account as supply could change, but there are still pitfalls.

Current price range:
One-bedroom apartment: From Dhs75,000-Dhs105,000
Two-bedroom apartment: From Dhs110,000-Dhs135,000
Neighbourhood tip: New development Bay Square has plenty of spacious studios ideal for singletons and couples. Amenities, and convenience shops are still being opened so this could be an area to watch.

Al Barsha
Down 10%
Liking Al Barsha is the same as liking jazz – the term is so broad it can be hard to pin down. With villas, skyscrapers, mid-sized towers and townhouses, most property types are present here. Considering the paucity of attractions (other than the marvellous Mall of the Emirates) when compared to other neighbourhoods, rental prices sometimes raise an eyebrow.

Current price range:
One-bedroom apartment: From Dhs98,000
Two-bedroom apartment: From Dhs147,000
Neighbourhood tip: For newer builds and a less than ten-minute walk to Mall of the Emirates and its adjoining metro station, look for apartments along the Al Barsha Road.

*All figures are provided by Propertyfinder.ae’s market insights

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