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According to a recent study, residents looking for affordable housing in the emirate preferred Jumeirah Village Circle.
Rental prices in the region located south of Dubai increased by 7-16%, averaging 34,000 dirhams, 48,000 dirhams and 70,000 dirhams per studio, one-bedroom and two-bedroom apartments.
With an increase from 2% to 21%, Al Nahda, Bur Dubai, Business Bay and Delta have also become popular areas for affordable housing in the UAE.
According to the survey, prices for «inexpensive» rented apartments in the most popular areas of Dubai increased by 21%, while the cost of luxury apartments increased by 43%.
The growth is driven by healthy demand for real estate in both affordable and elite market segments. During the first half of this year, many fundamental changes took place both in the region and around the world. Given that the attention to safety and security is understandably high, Dubai has become an attractive option, especially for international investors and former owners.
