Property in Dubai
Dubai attracts a large number of people wishing to change their permanent place of residence: out of 3,5 million residents, about 90% are foreigners by origin. People come here for various reasons, but the main ones are a soft tax policy and favorable conditions for investing in real estate. One of the most important factors that a potential buyer and investor should take into account when choosing a property is the area in which it is located. So, it is more profitable to buy villas in The Springs and Arabian Ranches, and apart-hotels in Palm Jumeirah and, of course, flats in Dubai Marina for foreigners.
We have collected the TOP-3 areas that are the most attractive in terms of real estate investment. And let’s start, of course, with the main pearl of the emirate.
Real estate in Dubai Marina
Almost 5 square kilometers of the Dubai Marina area are located on the very shores of the Persian Gulf. Its more than 200 buildings include the 88-story 23 Marina Tower, the 84-story Ocean Heights Tower, and the second tallest building in the world, the Princess Tower, whose 101 floors rise above the surrounding landscape, offering amazing views.
Dubai Marina belongs to the so-called freehold areas. This means that you can buy real estate here in full ownership, in contrast to the leasehold areas, where housing can only be rented for 99 years. At the same time, most of the buildings here are residential, which provides potential investors with a huge choice. In the Dubai Marina area you can find everything: relatively small studios, penthouses with 4-6 bedrooms, villas and duplexes. For those who are very serious relocating to Dubai , whole floors and even buildings are offered.
Dubai Marina is the southeastern area of the city, not only residential, but also a resort. Therefore, in the past two years, it has attracted a large number of tenants who appreciate the premium apartments, beautiful waterfront views and proximity to almost all of the city’s main tourist attractions.
For investors, the area offers a high level of apartment profitability. The average ROI of luxury housing here is 5.5% per annum. And with the right choice of the developer, location and amenities, it can be 7-8%.
Property in Emaar Beachfront
If you are looking for a project with a high ROI, be sure to check out this area of the city. It is located on an artificial peninsula adjacent to Dubai Marina. Now there is active construction going on here: in 4 years it is planned to build 27 skyscrapers, a huge port and all the necessary infrastructure. Emaar Beachfront is expected to become a major tourist destination with a rental yield of at least 8%. And now there is a unique opportunity to invest in real estate on favorable terms: at more affordable prices (compared to ready-made housing) and at attractive payment plans offered by the developer.
Housing in Downtown
Downtown is a huge area in the north of the city, with residential and commercial buildings. It is here that many of the world-famous attractions of the emirate are located, including Burj Khalifa, Dubai Opera and Dubai Fountain.
Properties in Downtown are in steady demand from tenants who prefer the convenience of relaxation, integrated communities and proximity to attractions.
In total, about 30,000 ready-made and under-construction real estates are put up for sale in the district. This year it is planned to commission the Emaar Grande skyscraper with a height of 78 floors. In addition, there are proposals for townhouses and low-rise villas.
Developed infrastructure and proximity to attractions provide high rental yields. On average, it is from 5.4% per annum.
Real estate agency in Dubai
Real estate is a reliable way not only to save, but also to increase your savings. A growing market, combined with low prices, as well as tax incentives and a favorable attitude towards foreigners, make the emirate an attractive place to invest, whether you plan to move here or simply receive passive rental income.
What kind of real estate is better to buy and in what area, it is worth choosing based on your capabilities and priorities. If you want to save money and time, we advise you to immediately contact the experts. A realtor who is well versed in all the intricacies and features, as well as in current trends, will help you quickly choose the option that suits you, as well as offer convenient options for managing real estate.
AX CAPITAL agency is there to help you get through the process of choosing and purchasing real estate in Dubai. The specialists of the agency are highly qualified and will provide you with the all the information about the recent changes of the market.
We hope you found this blog post on Dubai Marina and two more areas in Dubai you will regret not investing in real estate in 2023 useful. Be sure to check out our post on 10 Best Tourist Attractions in Dubai for more great tips!
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