The rise in tenant interest in Emirates living appears to show a reverse in recent trends in the city which has seen a lot of rental interest in newer developments such as Mira, Damac Hills and Mudon because of their attractive price points and clean, fresh, ‘brand new’ appearance. Consequently, rental prices of properties in Emirates Living have dropped, sparking more tenant interest.
Lewis Allsopp, CEO of Allsopp & Allsopp says “Our data shows that on average, rental prices in the Emirates Living area have decreased by 9% over the last 12 months. The Springs, Meadows, and Lakes were always Dubai’s staple go-to villa communities. The demand for villas in the area has always been high, however, recently handed over developments have enticed the interest of a lot of tenants.”
In recently recorded data from Allsopp & Allsopp, a rise in interest in Emirates Living is proven - properties across the area in the month of September were ‘live’ (advertised online) for an average of 16 days with an average of 9 viewings on each property before it was rented. This compares to last year’s data of property being live for 23 days with an average of 14 viewings on each. Two villas out of the last eight rented haven’t made it live on property portals as there were already tenants waiting for them, further highlighting the demand in the area.
The Springs, Meadows, Lakes and Emirates Hills have always been popular areas for families residing in Dubai. The Emaar developments were built with attractive landscapes and boast home to some of the city’s most prestigious schools. The neighbourly atmosphere adds a comforting feel with retail centers being well established and easily accessible providing an extra bonus.
Allsopp continues; “The majority of Emirates Living villas are of excellent quality. It’s no secret that a few have seen some neglect over the years, but most Landlords are now conscious that villas need to be in top condition in order to be attractive to tenants. With competition rising from up and coming areas, landlords are very aware of the importance of keeping their properties in outstanding condition and many are investing in their properties to bring them up to standard.”
With the drop in rental amounts, a large proportion of tenants are navigating back towards communities that are already completed to avoid construction noise, dust, and disruption. Emirates Living provides a well-established place to reside in an excellent location within Dubai. Despite the competition from newer developments, Emirates Living is returning to popularity among Dubai tenants.
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About Allsopp & Allsopp
British-owned Allsopp & Allsopp operates to international service standards, having won 23 international property awards. Its growing team offers deep local knowledge with four offices across Dubai; Palm Jumeirah, Jumeirah Golf Estates, Springs Souk Mall and Business Bay. By basing their agents in key communities, they will be able to meet clients face-to-face to discuss their needs.
Allsopp & Allsopp is a family-founded real estate business with operations in the UAE and the UK. Set up in 2008 by CEO Lewis Allsopp and Managing Director Carl Allsopp, the UAE arm focuses on residential sales and lettings in Dubai. The award-winning company also offers property management, conveyancing, and mortgage services.
Allsopp & Allsopp prides itself on delivering levels of customer care well above industry benchmarks, while strictly adhering to the regulatory framework governing the Dubai property market. Employees follow business methods, which demand exceptional honesty, a stringent code of conduct and total transparency to the client.
Allsopp & Allsopp’s headquarters is in the prestigious Vision Tower in Business Bay and employs a team of over 200.