With multiple housing options, a competitive market and a vibrant living experience, Jumeirah Village Circle is one of the most consistently favourite communities in Dubai. Nakheel launched this project in 2005 and since then, it developed into one of the most vibrant, family-friendly communities. Anyone who knows the Dubai real estate market must be aware of the growing number of communities and residential options that it offers to potential buyers and tenants.
And one of the most consistently popular options is Jumeirah Village Circle – commonly known as JVC. From multi-storey luxury townhouses to premium apartments, these properties in Dubai offer stunning views of the Dubai skyline and the neighbourhood – both property buyers and tenants are spoilt for choices. Though many other names make to the list of top communities in Dubai, yet Jumeirah Village Circle (JVC) is one of the most favoured communities.
Is it the availability of entertainment? Is it all about its sports facilities or a plethora of amenities? Or is it about the variety of properties in JVC? We will try to discuss all these reasons in the following blog post.
Jumeirah Village Circle (JVC) is a family-friendly community, nestled away from the bustle of the central city. Moreover, a large number of facilities are planned within the community including a strategically designed community centre, making it an ideal fit for families with young children. You can find several sports facilities there and also parks and open green spaces are in abundance around residential properties in JVC. Several top-performing schools are also part of this residential community.
Jumeirah Village Circle (JVC) enjoys a prime location with convenient access to Dubai’s major key destinations and tourists attractions. It is almost 15 minutes away from major shopping malls (including Mall of the Emirates, Marina Mall and Ibn-e-Battuta Mall) and resorts and a short drive away from Dubai Marina, Downtown Dubai, Dubai Internet City and many more. Moreover, the community offers a direct and easy commute to and from the community – making properties in Dubai an ideal choice for residents who commute to other parts of the city on daily basis.
Jumeirah Village Circle (JVC) features a wide range of residential properties in Dubai including apartments, villas and townhouses. In general, apartments are the most popular options for rent but villas can also be a good selection for bigger families. Most of the apartment developments feature high quality communal facilities, which is a major attraction for tenants. JVC was initially launched by Nakheel but still, you can find several developments there by other developers. Depending upon your personal choice, you can find several good apartment developments in JVC that you can finalize according to your budget.
Speaking about affordability, Jumeirah Village Circle is affordable in terms of rent as compared to several other popular communities in Dubai. You can find numerous affordable apartments for rent in Jumeirah Village Circle. Considering its prime location and quality of facilities, it is one of the best advantages of renting an apartment in JVC. Even though rents are increasing everywhere in Dubai, JVC is still affordable and this is what quickly attracts residents.
Another interesting feature is that JVC is equally popular among local Emiratis and expatriates – mainly due to affordable rents, facilities and various types of properties in Jumeirah Village Circle.
According to a recent report, Jumeirah Village Circle remained one of the most popular neighbourhoods in the first half of 2022 – for tenants looking for affordable housing options in Dubai.
The rents increased by 7 per cent to 16 per cent on average for studio, 1 bedroom and 2 bedroom apartments for rent in Jumeirah Village Circle. The average rent for 1 bedroom apartment has touched around AED45,000 to AED48,000 on yearly basis in JVC – people are still demanding for rental properties in JVC.
A few other consistently popular yet affordable areas in Dubai are Al Nahda 2, Deira, Dubai Silicon Oasis and Bur Dubai. Mirdif remained the most affordable area for rental villas in Dubai. An average increase in rent from 2 per cent to 21 per cent is observed for reasonably priced rental properties in Dubai. On the contrary, an average increase of 40 per cent is recorded for luxury apartments for rent in Dubai.
Many real estate experts denote this increase to the healthy demand for rental properties in Dubai in both the affordable and luxury sectors of the market. It is also notable that Dubai recorded a large number of property sales transactions worth AED61.9 billion between January and May 2022. And June 2022 alone was the highest grossing month in the last 13 years for Dubai real estate sector, with property transactions worth AED22.7 billion.
With so much happening globally, Dubai has proved to be an appealing option both for expatriates and foreign property investors.
Dubai real estate has proved to be the best market to earn returns both in form of capital appreciation and rental returns. Moreover, not just the property sales prices but the rental prices of properties in Dubai have also recorded a major spike. Almost a 41 per cent hike is recorded for rental properties across luxury communities in Dubai. According to a report, “High-end areas in Dubai saw rental growth of 25 per cent last year, the highest among 30 cities listed in the index, fuelled by the government measures mentioned above and the return of professionals to the city.”
This is what appeals to a majority of expatriates who have been moving to the UAE in search of work and making it their permanent home. Moreover, the higher demand for rental properties also indicates that it is the high time to invest in buy-to-let properties.