Sales and Leasing October 2019

Tenant Migration 
The below figures are taken from the data provided by of move in and move out requests of utilities across Dubai.  I am aware that there are many other factors to take into account to be able to give a more in-depth analysis of the tenant’s market but this is the first guideline available for us to be able to look into tenant migration in the rental market.

Q3 2019

Al Furjan, Discovery Gardens 
– 4367 move-in requests, 5,652 move out requests, -1,285 tenants leaving the area – average lease 556 days 

Dubai Marina, JBR, Bluewater Island – 4,104 move in requests, 3,113 move out requests, 991 new tenants to the area – average lease 506 days 

International City 2,840 move-in requests, 5,170 move out requests, -2,267 tenants leaving the area – average lease 538 days 

Dubai Silicon Oasis – 2,636 move in requests, 2.075 move out requests, 561 new tenants to the area – average lease 446 days 

Jumeirah Village Circle – 2,562 move in requests, 1,385 move out requests, 1,177 new tenants to the area – average lease 447 days

Downtown – 2,416 move in requests, 1,590 move out requests, 826 new tenants to the area – average lease 473 days 

Jumeirah Islands, Jumeirah Heights, JLT, Jumeirah Park – 1,941 move in requests, 1,704 move out requests, 237 new tenants to the area – average lease 524 days 

Mirdiff – 1,722 move in requests, 1,586 move out requests, 136 new tenants to the area – average lease 520 days 

Dubai Sports City – 1,272 move in requests, 1,238 move out requests, 34 new tenants to the area – average lease 525 days 

The Greens, The Lakes, The Views – 1,186 move in requests, 931 move out requests, 255 new tenants to the area, average lease 533 days

Palm Jumeirah – 1,143 move in requests, 871 move out requests, 272 new tenants to the area – average lease 522 days 

Dubai Investment Park – 428 move in requests, 755 move out requests, 327 leaving the area – average lease 642 days

Arabian Ranches – 513 move in requests, 437 move out requests, 76 new tenants to the area – average lease 548 days

As you can see from the above data from Quarter 3 of 2019, most of the prime communities attracted new tenants to the area (more than moved out of the area), which is a reflection mainly to the rent adjustments over the past 6 months. 

The more affordable areas such as International City, DIP, and Discovery Gardens saw more tenants leaving the area to take advantage of rent reductions in the more accessible locations such as the Marina, JVC and Barsha. 

data from compiled by Laura Adams 

Sales Market 
September 1st – October 12th, 2018 compared to the same period 2019 
 How have the sales transactions behaved in response to price reductions and affordable off-plan payment plans across Dubai?

September 1st – October 12th, 2018 
Off Plan Sales – 1,777
Secondary Market – 1,878
Total: 3,655 sales

September 1st – October 12th, 2019
Off Plan Sales – 3,504
Secondary Market – 1,789
Total: 5,293

A staggering increase of 44.8% of total sales

A reminder that the UBS Global Wealth report stated that Dubai was one of only a few ‘fairly priced’ property markets currently in the World, as reported in my October 2019 blog.

Properties Wanted

Palm Jumeriah – For Lease 

Unfurnished Type F – 2 bedroom – Shoreline – Bldgs 6/7/8/9
Unfurnished Type D – 2 bedroom – Shoreline- Bldgs 4/5/6/7/8/9
Furnished Type D – 2 bedroom – Shoreline – Bldgs 8/9
Furnished Type B – 1 bedroom – Shoreline – Bldgs 8/9

Unfurnished 2/3 bedrooms – Oceana /Tiara Residence

Furnished and Unfinished  – 1/2 bedrooms – Golden mile 

Upgraded Garden Homes and Signature Villas 
Custom-built Garden Homes and Signature Villas

For Sale 

Lakeside Tower C IMPZ
Studio Apartment, Vacant, 369 sq ft with Balcony

Torch Tower, Dubai Marina
Partial Marina View 1258 sqft
2 bedroom, vacant

Ritaj, Dubai Investment Park 
2 bedroom + maid, 1,700 sqft pool view

Discovery Gardens
Studio, 500 sq ft vacant

JVC, District 16
Fully Upgraded 3 bedroom + maid Villa
8,000 sqft Plot

Springs Villa
3 bedroom, type M

The Villa Project
5 bedroom + maids room, private pool

Mira Oasis
3 Bedroom Type 3E Villa

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