Dubai Marina 'most sought after location for rentals'

02/04/2014 - Dubai Property News Posted by Neil King
Dubai Marina 'most sought after location for rentals'

Dubai Marina has been named the most sought-after location for rental property.

A study by propertyfinder.ae found the area accounted for the highest number of searches during the first quarter of 2014, achieving 17 per cent of the total amount. This kept it in the same position as last year. 

The report, published in the National, stated properties valued between AED 80,000 (£13,072) and AED 100,000 per annum proved to be the most popular, accounting for 12.2 per cent of all searches. Meanwhile, those costing AED 120,000 to AED 140,000 a year came second, equating to a further 10.3 per cent of enquiries. 

However, the low-end property market proved to be less popular, as housing valued at between AED 40,00 and 60,000 slumped to eighth place in the study, accounting for just 6.5 per cent of the total number of searches. This is a fall from the fourth position achieved during the first quarter of last year.

Downtown Dubai was the second-most desirable location in the emirate, representing 7.7 per cent of enquiries. This was followed by Jumeirah Lake Towers, Dubailand, Palm Jumeirah, Jumeirah Village Circle and The Springs.

Meanwhile, Dubai Marina was also named the most sought-after location in terms of buying property. The study found 18.6 per cent of the total number of searches was for housing in this location. Downtown Dubai was again the second-most desirable area, accounting for a further 10.6 per cent. 

Statistics showed Khalifa City was the most popular location in Abu Dhabi, achieving 18 per cent of enquiries. This overtook last year's number one area of Reem Island, which was beaten into second position. It accounted for 16.5 per cent of all searches. 

The study was based on the enquiries of more than two million users who visited the propertyfinder.ae site during the first three months of this year. In total, they looked at around 300,000 listed properties for sale and rent across the country.