More people are looking to rent high-end villas as a result of on-going price reductions across the Emirate which means tenants can enjoy good value on luxury homes, according to developers at Dubai's Victory Heights.
Figures published in Landmark Advisory's June guide show that the overall rental market is still experiencing declines, with the villa market showing small reductions that means a three-bedroom villa in Victory Heights now costs on average six percent less to rent than it did in April 2010.
This means that a lower limit three-bedroom villa in the golfing residential community costs around AED130, 000 per year to rent compared with a three-bedroom apartment in Jumeirah Beach Residence, which costs approximately AED120, 000 per year to rent.
"We are seeing growing interest from potential rental clients who have realised that luxury villas present great value for money compared with apartments. They offer more privacy and more space, both inside and out, for all the family, without costing much more," explained Talal Chihabi Head of Sales, Marketing, Customer Services and PR, Victory Heights.
"Victory Heights is a vibrant, family-orientated community and we pride ourselves in delivering high-quality homes set in a beautifully landscaped environment, which offers residents a green and peaceful space to live," he added.
More than 400 families already live in Victory Heights which surrounds the award winning The Els Club golf course. Villas are built in three different styles; authentic Spanish Andalusian, bold Mediterranean and classic European.
Building work has also recently commenced on the project's first community centre which will offer residents a wide range of recreational facilities including swimming pools, children's play areas, basketball courts and BBQ areas. The centre is due for completion at the end of the year.
The development is located in the heart of Dubai Sports City, which later this year will be home to five Sporting Academies offering world-class coaching to children of all ages in football, hockey, rugby, swimming and cricket.
The city also hosts the International Cricket Stadium, where national and international cricket and football matches are played, as well as The Els Club and The Butch Harmon School of Golf where golfers of all levels and ages can practice their game.
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