The housing market in Dubai is developing as fast as the metropolis. Both individual residential buildings and modern quarters are currently under construction in the city.
Which area and residential complex is more suitable for the buyer’s purpose? In which areas is real estate most profitable and where does property not meet expectations?
Many investors are concerned about the answers to these questions. We answer some of them below.
There is no one-size-fits-all answer to this question as people buy housing in this city for various purposes. Some of them are:
Each buyer has their priorities when selecting a property but the location is a key consideration. Foreign investors prefer the following areas of the city:
Palm Jumeirah is an exclusive area so most English-speaking buyers have been investing in local real estate there for many years.
Other neighborhoods are less popular but there are also beautiful locations where developers have projects that meet the most modern standards.
District 2020 is an example of this. This is a community of residential complexes with many shopping and office centers, pavilions for exhibitions, and the international event – Expo 2020 has been held since October 1, 2021. Moreover, the largest airport in the United Arab Emirates is located in this area. Therefore, District 2020, as investors expect, will have many visitors, both participants and tourists. Most of them stay in this district.
Dubai Creek Harbor is also in demand. There are plans to open the tallest building on the planet, 928 meters high and with about 200 floors.
It will have apartments built in a circle. There will also be commercial properties. According to experts, Dubai Creek Harbor will be developed in the next 10 years. The local market already has housing in over 10 skyscrapers.
Real estate experts note that such projects attract buyers and investors as people come here to see the sights. Tourists rent housing, emigrants and investors buy it, and others rent and resell it. Another new area that specialists call promising is Emaar Beachfront. It is under construction on a man-made island and consists of 27 high-rises with premium-class housing. Residents will have a private beach with a separate entrance. There will also be a yacht club, a port for cruise ships, a rest area, and a 135-meter-high lighthouse with an observation deck.
Foreign buyers purchase real estate in popular and prestigious neighborhoods built by state developers. These are Dubai Properties, Meraas Development and Emaar Properties.
These companies do not just develop buildings but create entire neighborhoods and with a unique style. In residential complexes, they build parks, cafes and restaurants, shopping, office centers, etc. to create the infrastructure of an entire urban area.
Investors cannot doubt the quality of these amenities and the high level of their development. With such experienced developers, the investor has no risks to be concerned about.
The main thing is to choose a residential complex that best suits your purpose such as where it will be more profitable and faster to sell your housing or rent it out.
In this case, realtors can help you. They will explain the features of buildings, quality of structures, work of management companies, and many other nuances.
Prices for apartments in more well-known communities start from $150,000 and $320,000 for real estate near the coastline.
In one quarter, housing prices may differ from different construction organizations.
For example, there are more than 200 high-rise buildings in Dubai Marina. Different developers built up the area so the properties differ not only in price but also in quality and rental rates. Here, you can buy a studio apartment for about $150,000 but even the block’s reputation cannot guarantee to find tenants. The reason is the poor-quality interior decoration and poor service from the managing company. It is better to choose a more expensive property so that it brings passive income to its owner.
Emaar Properties built the most profitable apartments in Dubai Marina. Its properties have passed the test of time. They are many years old although the decoration and engineering have remained the same. The cost of rent and demand in these houses is higher than the nearby ones.
When choosing an area, experts do not recommend paying attention to peripheral locations.
It is important to remember that if different developers built one area, it is unlikely to be in the same style. That is why it is necessary to take into account not only which construction company built this house but also who built the entire block.
Ax Capital helps buyers choose and register properties in Dubai. Employees of the organization are glad to offer their services. Start by choosing an apartment today. Call our representatives on the phone number listed on the website.