Dubai's top communities: How rents rose in 2013

9 January, 2014: propertyfinder.ae, the UAE's leading property portal, which recently released its Q4 2013 report of UAE's most desired neighbourhoods to buy and rent property in, dived into the latest findings from Market Price Live, its up-to-the-minute data centre, to track the rise in rents across Dubai's key communities in 2013.

Dubai Marina, holding its position as the most-searched neighbourhood at propertyfinder.ae since 2012, experienced a 36% increase in rents over the course of 2013. On the other hand, Jumeirah Lake Towers, a constantly developing community offering a quieter lifestyle despite being located just minutes away from Dubai Marina, saw a modest rise of 6% in its rental prices last year.

Placing third in the most searched communities list last quarter, Downtown saw over a 100% rise in rents in 2013. With the iconic Burj Khalifa and the world's largest shopping mall as its centerpiece, the residences at Downtown are a renter's dream, evident from the area's ranking amongst Dubai's most searched locations to rent throughout 2013.

Lease prices of studios in Palm Jumeirah, surprisingly, showed a slight decline of 7%. However, rents of 1 bedroom residences grew by 14% in the serene waterfront community which has consistently appeared in propertyfinder.ae's top 5.

Dubai Sports City, jumping several notches from 18th position in 2012 to secure 6th spot in Q4 2013, saw a 30% hike in rental prices last year. From state-of-the-art sporting venues and residential and commercial developments together with all the amenities such as international schools, medical facilities, hotels and community centres in a purpose-built city, Dubai Sports City is a current hotspot for investors and renters.

“Whilst it's impossible to say what's 'best' for everyone, our Q4 2013 report is a good place to start for anyone looking to buy or rent a pad this year as it features trends, prices and statistics from across the market. Given that 2013 was a landmark year for the housing market, the expectations for 2014 are naturally high. With the introduction of the new rental decrees in Dubai and Abu Dhabi, it will be interesting to see how the leasing market pans out over the course of this year,” commented Michael Lahyani, CEO and Founder, of propertyfinder.ae.

For a copy of propertyfinder.ae's Q4 report or further information about this release, please contact Anna Lucas at anna@propertyfinder.ae.