fbpx

Real Estate in Dubai

By in Real Estate

It is said the best investment on Earth is Earth.

Benefits of real estate in Dubai

 

Real Estate is one of the most lucrative careers in the UAE, with agents and brokers facilitating millions of transactions, architects designing world-famous structures, and developers churning out one project after the other. Being a real estate agent in Dubai is no joke, however, it takes a certain level of passion, commitment and hard work to stand out and make a mark in the burgeoning property market of the emirate.

Dubai is the investment center of the Middle East, a place with the safest environment for investment. The city is the leader in the top investment attractiveness with property for investment among other countries. A favorable geographical location, Dubai investment properties, a rapidly developing segment of commerce and technology, and many business benefits attract the largest companies from all over the world. A potential investor can find different types of housing to invest his capital with different property prices and ways of earning.

Benefit of Real Estate in Dubai

Investing in real estate Dubai provides an opportunity to get the maximum profit, as housing and commercial premises in this mega-popular city among expats and travelers are profitable. The UAE is the point where the interests of people from all over the world converge. After the quarantine in 2020, the housing market has stabilized.

 

Housing, Rental and Utilities

Residential costs will depend on where you choose to live, and where you choose to live in Dubai will be highly dependent on where you will do business.

Here’s a reference of what you can expect in terms of rental costs of a residential property.

Type of Apartment Cost of rent per month
1. Apartment (1 bedroom) in City Centre AED 5,141.89 (USD 1399.92)
2. Apartment (1 bedroom) Outside City Centre AED 3,281.72 (USD 893.47)
3. Apartment (3 bedrooms) in City Centre AED 9,766.53 (USD 2659.01)
4.. Apartment (3 bedrooms) outside of City Centre AED 6,792.74 (USD 1849.38)

 

Property Types

There are numerous housing options on the market in the United Arab Emirates. Property in Dubai is attractive not only to home buyers and foreign nationals but also businessmen and investors for various purposes:

  • To resell villas in Dubai
  • To settle down with their children and family members
  • To rent apartments in Dubai
  • And other purposes

Those interested in housing in the emirate can buy freehold property and find real estate in Dubai. In different districts, the city offers various property options in apartment buildings, townhouses and penthouses with luxurious interiors, detached houses near beaches and residential complexes on artificial islands, and so on.

Areas of Dubai

These are the 5 best neighborhoods for foreign customers to buy real estate in Dubai:

  • Dubai Marina

The area is the most popular in the metropolis. There are luxury mansions, buildings with large-sized apartments, and other housing types. Cafes and numerous restaurants, shops and beach clubs are open for tourists and locals.

  • Downtown Dubai

This is a business center with offices of the world’s well-known companies and a tourist area with the sights of the emirate. Downtown Dubai is a city center with a well-developed infrastructure. Boutiques, beauty salons, restaurants, supermarkets, and entertainment venues are open to residents. There are also medical institutions, kindergartens, schools, and banks a few minutes’ walk away.

  • Palm Jumeirah

The man-made artificial island is a gem in the heart of the city, offering 360-degree views of the Persian Gulf and the panorama of the city. Palm Jumeirah offers diverse elite hotels, such as Atlantis, One & Only Palm, Kempinski, Rixos, and Jumeirah Zabeel Saray. In addition, Emaar Beachfront, a brand-new residential complex, offers unique properties in Dubai not far from the district. There are various types of property to buy here, from apartments and penthouses to villas and land plots.

  • Dubai Hills

The district known as Dubai Hills Estate offers luxury and affordable flats and villas by developers Meraas and Emaar in MBR. Dubai Hills Estate is the first phase of development in Dubai. It will include gardens, parks, bike paths, and golf courses. The district will have 4,600 villas and 22,000 apartments.

  • Business Bay

This is the largest business center in Dubai created by Sheikh Mohammed Rashid Al Makoum to develop a global commercial center in the UAE. Upscale office space and expensive flats are under construction in this area. Business Bay is a great place for international companies to do business in the Middle East.

To find out about Dubai property updated prices you can click on this link; https://www.propertymonitor.ae/dubai-house-price-timeline.html

 

Dubai Property Market Performance 2022

Top 5 performing areas 2022 (YTD)

  • Jumeirah Park
  • Jumeirah islands MBR City (al Merkadh)
  • Al Wasl (City Walk)
  • Nadd Hessa
  • Business Bay

 

Dubai property market summary 2022 (YTD)

Projects delivered

 

39
Units handed-over

 

15,441
Total sales value

 

74 billion
Total sales volume

 

27,673

 

Monthly Property Sales Value 2022 vs. 2021

Months Year 2021 (Value) Year 2022 (Value)
December 6.6 billion 16.7 billion
February 7.4 billion 16.4 billion
March 10.7 billion 22.6 billion
April 11 billion 18.2 billion

 

Monthly property sales volume 2022 vs. 2021

Months Year 2021 (Volume) Year 2022 (Volume)
December 3.3k 5.8k
February 3.8k 6.4k
March 4.6k 8.4k
April 4.8k 7.8k

Property sales volume over years

Year Volume
2015 47,374
2016 41,463
2017 47,860
2018 33,551
2019 39,722
2020 35,220
2021 60,963
2022 (Jan-April) 27,673

Property sales value over years

Year Value
2015 127.6 billion
2016 106.1 billion
2017 117.4 billion
2018 76.3 billion
2019 80.3 billion
2020 72.1 billion
2021 150.6 billion
2022 (Jan-April) 74 billion

 

For more information on any Real Estate advice, do well to contact Home Sweet Home Real Estate and we would be glad to be of massive assistance to you.

 

Share This