The UAE's Bayut.com has confirmed that the local real estate market has experienced stability in the first half of 2017, and even though both sales and rentals have experienced a bit of a lull in prices, the market is still considered fertile ground for those investors searching strong returns.
Haider Ali Khan, CEO of Bayut.com, said that the property portal has always focused on data, and that its goal is to be at the forefront of assessing the market trends based on the properties being listed by the real estate brokerage community.
Ali Khan added: “Over the past years, the market has gradually matured, and as this progression has taken place, investors need more credible information regarding the housing market, and we are working diligently in doing our part by presenting the information.”
The report revealed that the most popular communities in Dubai for rent in H1 2017 were Dubai Marina, Dubai Silicon Oasis, and Jumeirah Village Circle.
In Abu Dhabi, the most sought-after areas for rent were Al-Reem Island, Khalifa City, and Mohamed Bin Zayed City.
The most searched areas in both emirates, for buying property in H1 2017 were the traditionally in-demand areas, such as Dubai Marina, Downtown Dubai, and Al-Reem Island, but also smaller family-friendly suburban areas like Arabian Ranches and Jumeirah Village Circle.
Bayut.com’s H1 report focuses on the performance of Dubai and Abu Dhabi in both sales and rent categories.