A Dubai-based comparison site for moving and storage companies recently released a report around moving activity in Dubai and Abu Dhabi.
The analysis identifies 15 areas in Dubai which account for 67 per cent of all moving activity within the emirate, with Dubai Marina at No. 1. Of those 15, the top 4 areas are Dubai Marina, Jumeirah Lakes Towers, Downtown, and Jumeirah Village, which accounted for more than 25 per cent of all the moving activity in the past six months.
The UAE Real Estate Trends report by MoveSouq.com is based on more than 2,000 moving requests made by UAE residents between October 2013 and March 2014, the company said in a media statement.
The report also found that Dubai Marina, Jumeirah Lakes Towers, Discovery Gardens and Gardens, and Business Bay saw more people moving out than people moving into these areas. This trend could be due to saturation of these areas and rising rent prices, the report speculates.
Further analysis showed newly developed areas of Jumeirah Village and Dubailand experiencing the opposite, whereby more people moved into these developments than moved out. The results also show that the more exclusive areas of Downtown and Emirates Hills had an equal “move in” and “move out” rate, signifying that once people move into these areas, they tend to stay.
The company also analysed data from Abu Dhabi moving requests and found that 15 areas in Abu Dhabi accounted for 66 per cent of all moving activity, with only Khalifa City, Reem Island, and Khalidiyah making up more than 25 per cent of all the activity in Abu Dhabi.
“It will be interesting to see how these trends change over time given the UAE’s current economic growth and continuous expansion of the real estate sector,” said Bana Shomali, CEO, MoveSouq.com.