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What are some good Areas to Buy an Apartment in Dubai?

Thursday, October 04, 2018

The property prices are falling throughout the UAE. The strong demand is allowing a bunch of communities to hold steady cost-wise. However, some are drawing new interest since they are getting more affordable.

Investors need to have a good understanding where the hot commodities are. Only then can they make a smart investment.

Thanks to the opening of the Dubai Canal, Business Bay prices continues to be flat. It seems to have gained interest in apartments, with a 28% YoY increase in leads in October 2017. The Springs, a townhouse community, rose high to number 1 most popular place to rent. It was marked as the second most popular area to buy, with median asking prices declining by 6%.

Most of the portals decide on the basis of leads, or people expressing interest in a property. These form the core value proposition of most of the top portals. Most of the leads are up 29 percent year over year.

Dubai Land apartments are the cheapest to buy in Dubai. These apartments posted a rapid increase in leads since November 2016. This is because the area moved into a record-breaking year for handovers.

Downtown is the most expensive area to rent. It held steady for leads in 2016. However, it saw a large uptick in interest. Its YoY rose in leads of 47% and 39% in September and October 2017, respectively.

Dubai Marina continues to be the most sought-after community to both rents or buy an apartment. Its demand is increasing day by day.

As far as the rise of asking prices is concerned, Sports City has posted modest gains in interest. It dropped popularity wise from spot 6 to 8.

For Jumeirah Village Circle Apartments, prices are pretty stable. However, the trajectory for demand in on the rise. This is because handovers increase in the community. As far as the real estate is concerned, Dubai tops the list.

Here is a list of the most popular areas for property investment in Dubai currently:

Buyers need to choose the right location. The real estate investments is a big factor in the ROI you can expect from it in a few years’ time. Some of the popular areas in Dubai are pretty expensive. But, the popularity is mainly based on their overall prospects for development.

Dubai Marina

Based on the overall property investments in Dubai, Dubai Marina continues to be a top favorite. This area has a plethora of high-rise apartments, pavilion villas, and retail and dining outlets. All of these has made it a top favorite amongst Dubai real estate investors. One of the most prominent projects is the launch of Emaar’s Bluewater’s Island project that highlights the location’s long-term allure as one of the top areas for investment in Dubai property. The asking prices for apartments in Dubai Marina have remained pretty stable. The average asking price for studios in Dubai Marina is AED 837k. The asking price for 1-bedroom flats is going for AED 1.3M. For 2-bedroom units, it is at AED 2.2M.

 

Downtown Dubai

This area is popular for investing in Dubai apartments. After all, it has proximity to many attractions in the city. If you wish to invest in Dubai property, you need to look at buying apartments in the emirate are Downtown Dubai and Jumeirah Lake Towers (JLT). Downtown Dubai is home to the Burj Khalifa. The Dubai Mall and Mohammed Bin Rashid Boulevard are known for the luxury high rise apartments in the heart of Downtown. Burj Khalifa is one of the most visited tourist attractions in the world.
The prices are pretty much on the higher side. The average price of studios lies at AED 1.22M, 1-beds going for AED 1.58M and 2-bedroom units fetching a cool AED 2.85M.

 

Jumeirah Lake Towers

If you want to make affordable Dubai property investments, JLT is a good option. The high-rise apartments for sale in Jumeirah Lake Towers lie opposite the more luxurious development of Dubai Marina. However, these offer similar amenities at a reasonable rate. Residents have a good access to a vast range of culinary outlets, bars, and recreational facilities. These recreational facilities include gyms, pools and fitness centers. The average price for buying studios in JLT is an AED 700k, 1-beds command an average of AED 1.15M and 2 bedroom flats will set you back by AED 1.62M.
When it comes to Jumeirah Village Circle Apartments, prices are stable. The demand in on the rise. This is mainly because handovers increase in the community.

 

Palm Jumeirah

Palm Jumeirah is a top favorite for property investments in Dubai. It is a perennial favorite for real estate connoisseurs. It has quickly become one of the most reliable places to invest in Dubai real estate. It is predicted that this trend will continue into 2018. It might peak when the luxury Palm Beach Residences and Raffles projects are completed.  The asking prices for apartments in the Palm Jumeirah for January 2018 have remained pretty stable, averaging at AED 1.19M for studios, AED 2.2M for 1-bedroom apartments and AED 2.7M for 2-bedroom apartments.

Palm Jumeirah is popular for buying both apartments as well as luxury villas in Dubai. The average asking price of a 3-bedroom villa in the area is AED 9M, 4-bedroom villa is AED 11.3M and 5-bedroom is AED 14.25M. With consistent popularity, Palm has become an ideal choice for expats looking at real estate investments in Dubai.

 

Arabian Ranches

The popular villa community of Arabian Ranches is one more brilliant option to go for. It has shown a great increase in interest compared to the last few months of 2017 among those looking to invest in Dubai. The longevity of the off-plan projects and the resurgence of the secondary property market are the major factors that have led to a continued interest in Arabian Ranches. This is a great option for families looking for investment opportunities in Dubai.

Arabian Ranches has seen a prominent increase in interest for buying villas in 2018. The average asking prices for 3-bedroom villas in Arabian Ranches are 3.09M, 4-bedrooms are at AED 4.25M and 5-bed units are at AED 5.45M.

 

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