With more and more people looking for alternatives of expensive accommodation options, many localities lately experienced a noticeably high tenant influx. Among these localities, Jumeirah Lake Towers (JLT) is a notable one. The apartments in JLT offer some very attractive features and amenities and tenants who move here find these apartments no less facilitating and satisfying than the other expensive localities such as Dubai Marina, Palm Jumeirah and Downtown Dubai.
Because of the increased interest of the tenants, the rental price of these apartments has also spiked at an impressive rate making JLT one of the top 5 most searched locations at Bayut.com. The shifting of the renting trend in favour of JLT apartments has drawn the attention of a lot of investors who find leasable property in JLT a reliable source of regular and reasonable income. It has also been learnt that quality wise, apartments in JLT match the highest construction standards of the UAE and offer the amenities and facilities that are some of the most notable selling factors of various posh developments in Dubai.
According to Bayut.com's data, the average price of apartments in JLT has increased about 4.23% during the first five months of 2013. The price hike is the highest for 4+ bedroom apartments i.e. 9% and the lowest for 3 bedroom apartments at 1.41%. The steady price hike recorded consistently during the first 5 months of the year suggests that its effect on demand, value and rental price of Jumeirah Lake Towers' apartments would be rather long lasting.
The performance of JLT on Search Trends ranking at Bayut.com has also been consistent since January 2013. The locality earns solid points every month to inch on the Popularity Index criteria set by the portal. Several reports from independent sources also confirm Bayut.com's finding that tenants and investors in the UAE have lately been more interested in renting and buying apartments in JLT than its neighbouring posh localities such as Downtown Dubai, Dubai Marina, and Palm Jumeirah.