In line with the robust growth recorded by Dubai’s property sector, apartment prices in Dubai Marina and Jumeirah Lake Towers, two of the established lifestyle communities in Dubai, have recorded an average increase in price of 8 to 10 percent according to the latest report from the Valuation & Research team of Hamptons MENA.
A full-spectrum property service company, Hamptons MENA’s Valuations & Research undertakes regular evaluation of the property price trends in Dubai to offer expert advice to its clientele.
The Hamptons team reported that the price gains in Dubai’s property sector is now broadening to more residential developments, highlighting a broader recovery in property market sentiment across the city.
Declan King MRICS, Valuation & Research Manager of Hamptons MENA, said: “The positive gains reported by property in Dubai Marina and Jumeirah Lake Towers is testament to investor confidence in Dubai’s real estate sector strengthening across the board.
“Initially, the growth in demand and price was largely confined to selected neighbourhoods. The growing interest in real estate across diverse developments highlights that investors see stronger value proposition in the city’s property, led by Dubai’s vibrant economic fundamentals.”
Citing reports by the Dubai Land Department, Hamptons MENA reported that premium and secondary towers in Dubai Marina have reported an average 8 to 10 percent growth in price in the past six months. While premium towers – which have traditionally been hugely sought-after – in Jumeirah Lake Towers recorded similar growth trends, price gains by secondary apartments in the development were 3 to 5 percent. This is supported by increased viewing activity and interest for units across primary and secondary towers in both developments.
Offering Riviera-style living in a modern aesthetic setting, Dubai Marina by Emaar Properties is one of the first and largest of its kind waterfront developments in the region. With a total development area of 50 million sq ft, Dubai Marina encompasses a large canal spanning 3.5 km of waterfront area offering access to the sea from both ends. Frilling the canal are waterfront living apartments.
The project features several high-rises with luxury apartments as well as villas set against the backdrop of the Marina. With yachts moored along the Marina and some of the city’s best dining, entertainment and leisure facilities, Dubai Marina is the first choice for the stylish and sophisticated.
Jumeirah Lakes Towers (JLT) Free Zone by Dubai Multi Commodities Center, is a 200-hectare, mixed-use waterfront master development facilitating both business and community living by offering commercial, residential and retail property for sale and lease. JLT offers both a living and working environment with freehold and leasing options, and is home to over 35,000 residents and more than 5,900 companies.
Within the development and situated alongside the beautifully landscaped promenade are four winding, man-made lakes, stretching across approximately 179,000 square metres, where residents and the working community can enjoy an extensive array of outdoor cafes, restaurants and parks.
Situated in the ‘heart of New Dubai’, JLT’s prime location in close proximity to Sheikh Zayed Road, the main arterial between Dubai and Abu Dhabi, Al Maktoum International Airport, the Dubai Logistics Corridor, and between two operational metro stations, makes it the ideal address to live, work and play.
Hamptons MENA offers the full spectrum of property services including residential and commercial property sales, residential and commercial leasing and property management, international property sales, valuations, research and feasibility studies