A news report says that beachside living featuring Dubai Marina, which is a popular residential neighborhood in Dubai, has caught the attention of property buyers. The expensive Downtown Dubai, which prides in the world’s highest tower, has drawn renters to itself.
Real estate pundits acknowledge the slowdown, yet they find enough attraction in the Dubai residential estate world in the local and overseas markets. The Dubai Land Department originated data supports it by divulging that past week registered transactions bordering the AED7.7 Billion Mark, whereas the week before it had noted AED 6 Billion. This bit of information portrays investors swarming developers’ offices with wads of AED to invest in houses on the beach or houses nearby.
Property Finder informed on Sunday, the first two quarters of 2018 witnessed potential investors making a beeline for estates in Dubai Marina. Such information made Property Finder claim that the Dubai Marina was the investors’ favorite choice in December 2018. Living by the coast is the chief attraction. The second thing people like here is the easy approach to entertainment, staying, eating, and shopping opportunities.
The Beach is the hallmark real estate development here, followed by Jumeirah Beach Residence, and recently launched Bluewaters Islands. Ain Dubai, or Dubai’s Eye, is a towering feature of Bluewaters Islands. The said real estate concern added that the search data regarding Dubai Marina was twice of the data concerning other communities.
On the present scale of prices, a one- bedroom apartment can have an asking price of AED1,800,000, whereas the price tag of two-bedroom accommodation can reach the AED21,00,000 mark. Potential buyers combed Downtown Dubai as well for the sake of attractive residential units. There, one-bedroom staying-solution can touch the AED2300000 figure in the proximity of the Dubai Fountain. The price tag shows a similar value when it comes to the same in Arabian Ranches, Jumeirah Village Circle, and even in Palm Jumeirah.
Attractive Locations to Invest in a House
Well, there are five suggestions:
- Dubai Marina
- Downtown Dubai
- Palm Jumeirah
- Arabian Ranches
- Jumeirah Village Circle
Except for the last location in the aforesaid list, all four communities held on their demand during the first two quarters of 2018. Jumeirah Lakes Tower found a place in the five most desirable communities from the investors’ perspective.
Regarding the tenants’ point of view, the first six months of 2018 saw Al Barsha, Dubai Marina, Palm Jumeirah, and Downtown Dubai entering the most desirable category. Regarding Al Barsha, it claimed the fourth top place in the renter class while Business Bay progressed to the fifth place. Tenants found themselves blessed with favorable rents, which were identical to rents in the year 2010. Take the example of Dubai Marina, where a tenant is to arrange AED60,000 to a bit excess to AED100,000 to rent a one-bedroom apartment. The variation in rent owed to location and views.
According to Jajje, the present time appears to be the most favorable for tenants. The last two years witnessed rents decreasing to 30%. The last 12 months beheld rents decreasing to more than 15%.
Favorable Communities to Rent
This community added to the Dubai landscape. A 2-mile long canal originated from the Persian Gulf is its salient feature. Concord Pacific Place is believed to be an inspiration behind it. Besides, Dubai Marina penthouses and apartment Jumeirah Beach Residence, which is famous for its 1.7kilomter long Walk and Beach. Dubai Metro and Dubai Tramway are the public transport solutions here.
This large-scale community features Dubai Fountain, Burj Khalifa, and Dubai Mall. Furthermore, the attraction list mentions Address Downtown, Al Manzil Downtown, and Vida Downtown in the restaurant sector. Souk Al Bahar shines in the shopping category here.
Dubai houses this galaxy of artificial islands located in the Persian Gulf. Palm Jumeirah Monorail serves transportation needs. The hotel and resort category in Palm Jumeirah mentions about two dozen entities, where Anantara, Atlantis, St. Regis Dubai, Emerald Palace, The Langham, Kingdom of Sheba, Duke of Dubai are some excellent examples.
The west of Dubai houses this sub-community collection, which comprises Al Barsha First, Second, Third, South One, South Two, South Three, and Heights. Chief attractions here Mall of the Emirates followed by Dubai Autodrome. Its distance from Dubai International Airport, Burj Khalifa, and the Palm Jumeirah is 25-minute, 20-minute, and 5-minute.
Many skyscrapers feature Business Bay that is to serve business and residential purposes. Business Bay pride consists of Bay Square, The Executive Towers, Bay Avenue, and Dubai Creek Extension.