propertyfinder.ae sees renewed interest in Jumeirah Village Circle @property_finder @PFUAE

Latest quarterly report suggests appetite for residential space in the area growing as infrastructure improves

 Demand for residential properties in the Dubai Jumeirah Village Circle (JVC) development has witnessed a dramatic increase in the second quarter of 2013 compared with the same period last year, according to a recent report published on 8^th July 2013 by propertyfinder.ae, the UAE’s leading real estate portal.

The quarterly survey, which analyses data from searches made by 1.8 million visitors to the propertyfinder.ae website, underscores JVC’s massive year-on-year leap from 10^th to 6^th in the ranking of most favoured home locations in Dubai.

Renan Bourdeau, managing director, propertyfinder.ae, said the uptrend can be attributed to the improving conditions of public infrastructure surrounding the 860-hectare plot, which sits like a circular island surrounded by Al Khail Road, Sheikh Mohammed bin Zayed Road and Hessa Street.

“Potential home buyers are finding JVC more accessible as most of the road constructions around the area are either complete or nearing completion. The bump from 10^th to 6^th place is a major feat for a location, especially in a very competitive property market such as Dubai,” he said.

The rise in demand for residential properties in JVC also reflected a growing trend towards accessibility, convenience and cost-effectiveness.

“What we found out from the survey is that communities that prove to be in huge demand are those that feature excellent amenities and efficient road systems, but are still very reasonably priced. Another location that showed similar credentials is the Al Barari luxury development project in Dubailand, which jumped from the 20^th position in Q2 2012 to the 16^th ranking in Q2 2013,” Bourdeau explained.

As in the previous year, Dubai Marina, Palm Jumeirah, Downtown Dubai and Jumeirah Lake Towers remained the most searched locations to buy a property in Dubai. Other locations in the Top 10 list include Arabian Ranches, Dubailand, The Springs, Dubai Sports City and Jumeirah Beach Residence.

Meanwhile, destinations that fail to provide amenities tend to stay on the sidelines. An example is International City, which saw its ranking slip from 15^th to 17^thin the second quarter of 2013 as it suffers from low rent, excess supply and lack of incentives such as recreational facilities for residents.

However, propertyfinder.ae believes that the outlook for these areas may not be too bleak as developers have reportedly expressed interest in boosting the locations’ market appeal.

The report also highlighted the hotspots for people looking to rent in the emirate. Dubai Marina’s popularity remains unabated with searches jumping to nearly 18 per cent in Q2 2013 from 15 per cent last year. Palm Jumeirah, Jumeirah Lake Towers and the Downtown Dubai area were also sought after by tenants.

To view the second quarter report, visit the propertyfinder.ae website.