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Pay Attention To The Jumeirah Village Circle Community
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An emerging community development of Jumeirah village in Dubai is a blend of finished and under construction projects. The Jumeirah village circle being a development of Nakheel was launched in the year 2005 with a built area of around 870 hectares and approximately 28 residential ongoing projects under construction. Nakheel is a freehold master developer. This community is integrated into 6 divisions with all of them having same plotting and layout features except the last one.
JVC offers apartments & townhouses and is situated at Sheikh Mohammed Bin Zayed Road. The prices are competitive and are the reason why it has become a popular area for investment in just a few months.
As per the index of property monitor, the average apartment price in JVC till may was Dh852 sqft., while the rent per month valued at Dh 40,000 for studio and Dh 1,20,000 for 3 BHK. The apartment prices in the community have decreased by -0.22% each month and uptill now it has gone down to 4.8% in the last year.
In line with the Dubai market, the average sale prices raised in 2nd quarter of 2014,estimated at Dh 984 sqft for JVC and ever since then, it has declined. Over the last one year, it has declined at a close range of Dh 830 to 870 per sqft. In between April and May 2017, the declines in the rental have averaged at -0.16% which is a steep decline of 12% over the last one year.
64 apartment transfers of JVC in secondary market were finished in May which is closely half of the top two locations of Dubai Marina and International City. These have 130 and 121 transactions during the month respectively.
JVC lead the off plan sales in the meantime with 335 transactions of apartments in a month within the community. This was higher in number than the next location south Dubai having 175 apartments for off plan sales. Most of these transactions of May were under the development of Ghalia Constella by Damac which features studios, 1 and 2 bedroom apartments which are to be handed over in the second quarter of 2017.
Significant amounts of project of JVC are still under construction, facilities and community infrastructure. Also its close proximity to the locations like Dubai Marina, Jumeirah Lakes Towers and Jebel Ali, make it a known location for renting and hence has topped the investment charts.
About the Author:-
The article is written by Bhupendra, associated with Allegoria Properties, the leading real estate brokerage in Dubai, UAE. Allegoria Properties is a part of Allegoria Capital which helps clients achieve their real estate needs and goals without any hassle.
Allegoria Properties has the range of services to focus on all aspects of property buying, selling and renting both residential & commercial. Our efficiency is derived from a combination of experience and knowledge of the UAE property market.
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