Report shows outskirts proving popular for Dubai residents

This content was originally posted in 7DAYS UAE website at: Report shows outskirts proving popular for Dubai residents Newer and more affordable apartments are luring an increasing number of Dubai residents to the suburbs, real estate agents have said. Areas such as Dubai Sports City, International Media Production Zone (IMPZ) and Dubailand development Arjan are the favourite places to locate to, said Zakria Masood, a real estate agent for Property Bureau. “Before, International City used to be a reasonable option, but since it is now a very old development, people are opting for brand new and cleaner apartments that fall in the same [rent] range or slightly higher.” Another agent, Shaun Fernandes, said the areas were proving particularly attractive to small families and younger people. “With limited income they want to look for affordable places, which is not possible within the city unless you are ready to move into very old apartments, hence communities in the suburbs are in demand,” he added. According to a report by property portal bayut.com, apartments in International City, IMPZ, Dubai Investment Park, Dubai Sports City, Dubai Silicon Oasis, Dubailand, Discovery Gardens and Jumeirah Village Circle were found to be the cheapest options. “Small families interested in renting one-bedroom apartments at affordable prices are advised to consider International City, Al Nahda, Dubailand, Al Warqa, Downtown Jebel Ali etc,” the report said. Azam Butt, Editor-in-Chief of Bayut.com, added: “New tenants are generally looking in areas away from the city centre, where rents are still a bargain. The problem of affordable housing has received ample attention and authorities, as well as developers, have started taking note of the issue. “These affordable housing projects are targeted towards residents earning between Dhs3,000 and Dhs10,000 per month.” mahak@7days.ae Read the original story at: Report shows outskirts proving popular for Dubai residents