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Additionally, It Costs Less To Purchase Residential Properties Outside Of Cities.
Being a city girl who loved the convenience of everything that came with it, Filipina expat Rachel Delacruz. However, when she became pregnant with her first child, she suddenly felt the need for so much “own personal space.” She made the decision to relocate to DAMAC Hills 2, a suburb that is about 50 kilometers from her workplace.
Delacruz scored a great deal. She switched from renting a 2BHK apartment in the city for Dh60000 per year to a 3BHK townhouse for Dh40000 per year. In addition “it comes with a garden,” as well.
Rachel is one of the many UAE residents who are relocating out of the city for some peace and quiet after work. She loves that her now 3 months will grow up in a “large space he can call his own.” Despite the fact that it has meant hospitals being further away, less eating out, and fast food options.
The Most Popular Suburban Options
According to Property Finder research, there is a “growing trend” of residents and locals relocating to suburban areas. Scott Bond from Property Finder classifies these areas as suburbs in search of a home befitting their Dubai living. With housing at competitive rates, peaceful privacy, and a larger space, he said. The most popular suburban areas, according to Scott, are Damac Hills, Dubai Sports City, and Al Furjan.
How Much Do Most Tenants Pay?
When it comes to the selection of villas and apartments for rent in the well-liked suburbs, residents are spoiled for choice. Because of their family-friendly facilities, and green lifestyles. As well as strategic locations, these areas are becoming extremely popular.
Buy Or Rent?
Both renters and buyers are “significantly growing” in these communities, claims agency-owned realty website houza. During the pandemic, a large number of people moved to these areas, where they have adapted to the environment. As the “work from home” trend continues, more people are prepared to purchase a home for a long-term move. According to Sarah Hewerdine, head of marketing at houza, this trend is observed with families, especially those who have kids.
Many people are expanding their search to additional areas farther away. Because of the skyrocketing cost of real estate in communities in the center. They do not have to give up on either space or the number of bedrooms, which helps, Sarah remarked.
Purchasing Homes: City vs. Suburbs
Sales in suburban villa communities have increased by twofold in the q3 of 2022 versus the same period last year. According to Property Finder’s Scott, wealthy buyers will find it much simpler to negotiate a price for a “slice of suburban life” in Dubai’s upscale villa and townhouse communities. Where homes sell for a fraction of the cost five years ago.
“They have undergone meaningful lifestyle changes because of the real estate boom in such suburban communities. Which has frequently required relocating and moving into larger available spaces at competitive prices,” he continued.
Benefits and Cons
The main appeal of residing outside of the city is the lower cost of the units. The main drawback is the longer commute times. In particular, traffic along the Al Qudra corridor might be difficult and lengthen travel times, according to Sarah.
Before deciding between an elegant rented flat at Dubai Marina, a large villa in Arabian Ranches, or an Eastern-styled townhouse at Jumeirah Golf Estates, Scott advised tenants to consider the value and style of life factors that come with each property.
The Age of Suburban Living Has Arrived
Houza claims that since the Covid-19 pandemic, affordable villa communities outside of Dubai’s city center have grown in popularity. As cities around the world continue to grow economically and demographically, we have noticed this trend. A typical example from London or New York would show how people who want to move further out would do so. In order to save money or get more space maybe for a growing family, Sarah said. “Some people still view purchasing in these communities further out as being associated with being on the outskirts of Dubai. However, as city develops, it will be viewed as more centrally located with a longer investment horizon, say 10+ years.
