Dubai’s property landscape is witnessing a shift as buyers and developers alike turn their attention towards emerging suburban areas, seeking affordability and promising investment opportunities. The year has started with a positive momentum in property transactions, following a brief slowdown at the end of last year, with a noticeable surge in activity across the city’s outskirts.
Suburbs such as Arjan, Majan, and Furjan are becoming hotspots for mid-income buyers, rivalling established areas like Jumeirah Village Circle (JVC) for those in search of their dream homes at attainable prices. These areas are seeing a flurry of new off-plan projects, signalling a broadening of Dubai’s residential market to include these fast-growing districts.
Developers are launching new projects in anticipation of a rising demand for mid to upper-mid-range homes, offering more affordable options within the AED 1 million to AED 2 million bracket. The easing of the 50 percent down payment requirement for off-plan purchases over AED 2 million underpins this trend, which is expected to attract a larger pool of buyers and investors. Investment interest is also on the rise, with many looking to purchase properties in these suburbs for rental purposes, banking on their growing appeal among renters. Emerging districts like Arjan and Majan are predicted to quickly become preferred choices for mid-income buyers, following in the footsteps of areas such as Al Furjan.
The early part of the year is critical for gauging the health of Dubai’s property market, with the first quarter potentially setting the tone for another robust year of sales. Key to this optimism are the suburbs, where a significant portion of new residential stock is expected to be delivered, particularly in Arjan, which is expected to contribute around 1,500 units to the market. Significant off-plan projects, such as Aqua Properties‘ ‘The Central Downtown’ in Arjan, highlight that the introduction of new supply continues unabated, promising a mix of apartments and retail space. These developments reflect a concerted effort to enhance daily living convenience and accessibility for residents.
Land prices in these emerging areas remain competitive, offering a window of opportunity for end-users and investors seeking more affordable entry points into Dubai’s property market. Despite the overall upward trajectory in property values, places like Majan and Arjan offer a more attractive proposition for those looking to capitalise on lower land costs.
As Dubai continues to adjust its policies, such as the recent revision of the Golden Visa requirements, the property market is poised for continued growth, with a particular focus on enabling easier access for first-time buyers and long-term residents aiming to enter the housing market. This shift towards more flexible investment thresholds is likely to sustain the momentum in property sales, especially in the burgeoning suburbs that promise both affordability and quality living.
Original article reference: Zawya.