Dubai Market Outlook - November 2014
In October we witnessed an increase across the city in villa sale prices while apartment rates decreased on average, confirming the real estate market is back on track to sustainable and healthy growth. Rents for all unit types rose this month on average in the majority of Dubai’s residential areas.
This month we focus on Jumeirah Beach Residence (JBR) where new facilities were recently opened, for instance The Beach project, a one kilometer long outside mall and cinema, with prime access to a public beach. Access to the community has been improved recently, with the opening of the Dubai Tram project on November 11th, with two stations providing quick access to the Jumeirah Beach Walk. These enhancements will impact positively on the property values with an average increase in sale prices of 3.5% month-on-month. Rents of 1 and 2 bedroom apartments follow the trend with an increase last month; 3 and 4 bedroom apartments rents remained stable.