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MENAFN - Khaleej Times - 24/12/2013

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(MENAFN - Khaleej Times) Whilst Dubai Marina, Downtown Dubai, Palm Jumeirah and Jumeirah Lake Towers remain firm favourites with buyers, Dubai Sports City's reputation as a property hotspot seems to soar, revealed propertyfinder.ae, the UAE's leading property portal.

From not figuring in the top 10 list last year, the community zoomed ahead to eighth position this quarter, the company recorded in its latest quarterly report compiling Q4 trends in home prices and rents based on listings and user behaviour on the website.

Michael Lahyani, CEO and Founder of properfinder.ae, said: "The broad recovery in the residential market is pushing up sale prices and rentals across most areas, including mid-market communities such as Dubailand, Jumeirah Village Circle and Dubai Sports City."

Renters also seem to be looking at more viable options given the rise in rents in more established villa communities, with Jumeirah Village Circle moving up to seventh spot this quarter from its 12th position in Q2. International City also saw a revival of sorts, earning a place in the top 10 list for the first time this year. In line with this trend, Arabian Ranches dropped four places from Q3 and Discovery Gardens moved up one spot this quarter.

"Dubai's property market has clearly rebounded with prices increasing by over 20 per cent this year even as new projects get launched every other week. Real estate demand is only likely to inch higher in the years leading to the Expo, so if you want to put your money into a home or office, these are the communities where owning and renting seem to make sense," added Lahyani.

 






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