1. Open preferences
  2. general tab
  3. Default Machine Folder
  4. Dropdown
  5. Other
  6. Choose folder
  7. Click open
  8. click ok
  9. What happens in the background is, VirtualBox will update defaultMachineFolder in its VirtualBox.xml configuration file with the path of we have just chosen just now.
    <SystemProperties defaultMachineFolder="/Users/shakir/Workspace/Virtualbox/VM" defaultHardDiskFormat="VDI" VRDEAuthLibrary="VBoxAuth" webServiceAuthLibrary="VBoxAuth" LogHistoryCount="3" exclusiveHwVirt="false"/>
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