Dubai sees shift in demand to bigger properties

22 December, 2020 12:00 AM printer

Dubai: The Dubai property market has seen an increase in user demand for units in the suburbs this year as tenants sought more spacious homes amid the Covid-19 pandemic, according to listings portal Property Finder.

Communities such as Tilal Al Ghaf, Al Muhaisnah, Wasl Gate, Town Square, Mira, Rukan and Dubai Harbour witnessed a surge in popularity this year, according to a report by the property portal, report agencies.

“The Dubai real estate market saw an increased appetite for upgraded housing solutions – be it to a larger, more spacious home situated on the outskirts of the city, or even if a move to a smaller space, but in a more prime location, people are looking to set themselves differently,” the report said.

Prime and central locations such as The Springs, Dubai Marina, Jumeirah Lakes Towers and Arabian Ranches are also seeing an increase in demand as people, who were earlier priced out of these communities, now find them affordable. Dubai’s real estate market slowed after a drop in oil prices that began in 2014, in tandem with an oversupply in the market as projects are completed.