Investments are the best way to earn higher ROI in the long term. Compared to other forms of investments in Dubai, the real estate business has always remained a profitable one despite the frequent changes occurring in the property market. From comfortable and luxurious villas to cosy, affordable lofts, Dubai can offer several options all at once. The striking architecture appeals to people from everywhere. Several properties for sale in Dubai were stagnant during the covid 19 outbreak, which dropped the overall business in the city.
By investing in properties in Dubai, people can enjoy many benefits besides the lucrative rental yields that are increasing by 5% to 9% year after year. Compared to other states or cities in the UAE, Dubai is affordable yet a place full of class and beauty. The property prices per sq. foot in Dubai is lower than properties in other countries. When purchasing a property, as a local or an overseas investor in any country, they are liable to pay the stamp duty and property taxes based on the total value of the household. Buying a property in Dubai does not require any of these procedures, making it an attractive deal for buyers worldwide.
Also Read: 10 Reasons to Invest in Dubai Real Estate
What to Consider Before Investing in Property?
One of the most significant commitments in a person’s lifetime is investing in a residential property. In an influential place like Dubai, where hundreds of transactions take place daily, finding the right place to invest is more of a hassle. However, based on some aspects, one can effortlessly reduce the time for house hunting.
- The ROI was generated from the property.
- Total size and age of the households.
- Nearby amenities like healthcare, schools, grocery shops, transport, etc.
- Commercial developments in the vicinity can improve the property value in the future.
- Maintenance and mortgage rate.
Benefits of Buying Property in Dubai
Since its boom, Dubai has always been a favourite place for real estate investors. Find below the top benefits of buying property in Dubai to help those who are willing to invest in Dubai properties.
- From 2008 – 2018 there is 86% growth in Dubai’s population and it is still increasing rapidly.
- As a business hub, there is always some development and innovation going on all the time.
- Dubai is ranked as the safest city in the region. So the sense of security the residents enjoy is priceless.
- You can become a resident of Dubai by investing at least AED 1 million through a UAE property visa.
- It may surprise you, but the acquisition of property in Dubai is very low compare to other capital cities of top countries.
- Similarly, Rental yeild in Dubai are much higher than to top real estate cities in the world.
- There is no property tax in Dubai at all.
- Upto 100% capital apprciation against your Dubai property investment in 10 years.
Best Areas to Buy Property in Dubai
Here we are with the list of the top 10 best areas to buy property in Dubai that can be your best property investment in Dubai.
|04||City Walk Dubai|
|05||Al-Qudra Road Dubai|
|07||Emaar Arabian Ranches Dubai|
|08||The Springs Dubai|
|09||Jumeirah Lake Tower|
|10||Jumeirah Village Circle|
The updated list of best places to buy property in Dubai
1. Dubai Marina
Skyscrapers and life-sized buildings define the sheer charm of Dubai Marina, a go-to place for short-term visitors in Dubai. This area is a high-end neighbourhood where wealthy people can be seen moving here, and the rental yields are about 6.4%. Most property investors choose to purchase in Dubai Marina for its affordability. The asking costs have been stable here and are a buyer’s market currently.
2. Downtown Dubai
One of the most populated tourist spots in Dubai is the Downtown area with several attractions here. This region happens to be the focal point that brings in more visitors from various countries. People who prefer to live in high-rise apartments or enjoy an excellent lifestyle move into this neighbourhood. Investing in Downtown Dubai will help people get maximum profits now, and will further increase in the coming years. Also, check out our list of most popular tourist attractions near Downtown Dubai.
3. Palm Jumeirah
Amongst all the neighbourhoods in Dubai, investors often prefer Palm Jumeirah, the best perennial spot for people to live. With many communities competing to bag the top spot in the list of best places to invest, Palm Jumeirah never fails to bag the top spot every year. Most of Dubai’s most profitable projects are situated here, adding more value to this locality. The minimum asking cost is higher here.
4. City Walk
Dubai’s most influential and vibrant region is the City Walk. The upscale restaurants, boutiques, chic shops, and other shopping centres are the best places for families to live here and spend their leisure time. City Walk is a blend of both residential and commercial projects. This locality is a central part of the Jumeirah community. Purchasing a property here will lure in more family tenants to this place.
5. Al-Qudra Road
Everyone picks a quiet and soothing place over a crowded neighbourhood. Al-Qudra is one place in Dubai to find isolated and calm places to live. The primary residents of Al-Qudra Road are students and new, young families. After the year-long lockdown, people have started altering their lifestyle preferences, and are moving to the outskirts without second thoughts. Investors can earn the best ROI in this place. Recently Al-Qudra district is getting in the news due to the discovery of lakes such as Moon Lake, Love Lake etc.
6. Business Bay
This well-acclaimed neighbourhood of Dubai is lined up with Skyscrapers and high-rise buildings. Business Bay is well connected with Dubai and is the best place to enjoy a modern lifestyle. Most residential projects in Business Bay of Dubai are still under development, and this is the best time for investors to grab the offer. The Expat population is dominant in Business Bay and prefers to rent apartments here.
Also Checkout: How to Be Sure of the Value of a Real Estate Property?
7. Emaar Arabian Ranches
Being a contemporary and a large region, Emaar Arabian Ranches has gained the best reputation for all right reasons. Investors who wish to let family tenants can choose this neighbourhood. High-quality life-loving audiences are the main residents. Many new properties like luxury villas, townhouses and apartments are emerging here. Excellent amenities like communal ponds, outdoor spaces, play areas for children are the specialities of Emaar Arabian Ranches.
8. The Springs
Several sub-communities and residential developments together form The Springs, Dubai. This neighbourhood is quiet away from the bustling city of Dubai but near enough to travel to the central parts of the city. More than the local residents, the expat population is more and continues to grow every year. Gated communities are more in number with over 14 sub-communities in the vicinity bound by sparkling waters and landscapes.
9. Jumeirah Lake Towers
Dubai’s most considerable development with over 78 towers in the city, Jumeirah Lake Towers emanates the best community vibes. JLT is surrounded by four lakes, and lake-view properties are more in demand among the new residents. People can enjoy the vibrant nightlife at JLT with pleasant weather throughout the year. Residential properties and hotels have developed recently and are taking the opportunity of an overflowing population.
10. Jumeirah Village Circle
JVC is the latest development in Dubai that was formed in 2005. More than 350 towers occupy this neighbourhood and are one of the most extensive localities in the city. Amenities like supermarkets, cafes, health centres, food courts and more are readily available in every part of JVC. Housing options are mostly villas, modern flats, townhouses. Both investors and tenants have a wide range of options.