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Where to buy property in Dubai

Monday, 23 February 2015

Investing in the Dubai real estate is always a profitable option, only if you know the right time and the right locality to invest in. The banks consider some property developers as high-risk developers, so acquiring a home loan might become difficult in some of the new launches. One must consider the developer’s history and reputation before investing in Dubai. It’s always better to know where the rest of the investors are pouring their money before you set your heart to a particular locality and that’s where Bayut.com can help you!

Top Six Localities in Dubai

According to Bayut.com, the most popular localities in Dubai for buying properties are Dubai Marina, Downtown Dubai, Dubailand, Dubai Sports City, Jumeirah Lakes Towers and Business Bay. These localities were most searched for in the previous months and thus they represent the general interest of investors.

Dubai-Infographic

Dubai Marina has always been popular with the expats and nationals alike due to its attractive man-made marina and tall residential towers.

Downtown Dubai, the locality that houses Burj Khalifa, is a mega development by Emaar Properties and is one of the most luxurious and expensive localities of Dubai.

Dubailand, with its magnetising off-plan properties, was the third most searched locality according to the online property portal. It offers both apartments and villas in Dubai, and since most of them are off-plan, they are considerably cheaper.

Dubai Sports City has started to gain prominence among the investors due to its recently launched property options, which are not only attractive, but also comparatively economical.

Jumeirah Lakes Towers is a locality just across the road from Dubai Marina which features economical residential offerings and is popular among the white collars of Dubai.

Business Bay was previously thought of as a commercial locality but due to the shift in investors’ interest towards residential offerings inDubai, many developers converted their office buildings to residential buildings and the locality gained prominence among investors.

Apartments:

The average prices of residential offerings in Dubailand are AED 577,584 for studio and AED 868,906 for one-bedroom apartments. The average rental prices of two-bedroom apartments currently stand at AED 1,372,506 while the 3+ bedroom apartments feature an average rental value of AED 2,136,302.

Villas:

The villas in Dubailand are also being favoured by the investors. On average, the rental price for 1-2 bedroom villas, according to Bayut.com, is AED 2,313,182. The three-bedroom and four-bedroom villas of Dubai have average rental prices of AED 3,362,442 and AED 4,168,507 respectively. The 5+ bedroom villas currently stand at a rental price of AED 7,526,437 on average.

The residential offerings of Dubai are attractive and if compared to the global prices, they are also economical to the countries they compete with. The strategic location of Dubai on the world map places it in the centre of the world makes it an important location for global businesses.