I love your web site and have learned a lot especially answers posted by Mr. Zeeshan Khan. Can you suggest at least 3-4 residential apartment properties in Dubai with high rental occupancy? Looking for an affordable rental property and plan to hold for 10 year plus.
Thanks guys!
I am glad that you are finding the site useful, especially the community.
Dove, I would love to help you out in finding the right kind of property with a high rental yield. As I have been saying time and time again that if you are thinking of investing at the moment, then only go for completed properties. If you keep this in mind then you have already narrowed down our choices in terms of picking the right locality for investment.
Due to the economic crisis, property value has definitely declined by substantial amounts, however in certain areas they have decreased to the original value. Having said that, this does not mean that these localities are best in terms of investment. For instance properties in International City have come down to their original value and if you are lucky you might find a property which is lower than the original value but I would not recommend buying there, simply because the equity gain in the future is going to be minimal and rental yield is also not that high.
You should definitely consider investing in an area where both the purchasing and rental demand is high as this will yield the most optimum returns for you. If I had to buy 3 properties in an average area, I would rather go for 2 properties in a slightly expensive and posh area. You must play it safe considering all options for instance what if the Dubai Economy does not bounce back in the coming months or years. High demand areas will always be safe and sound.
Lets get to the crux of the matter, where should you invest? It really depends on your budget, however here are some key areas that you can consider.
1. Dubai Marina (Ideal Location, some properties have declined by nearly 50%, high demand area and renting out properties is very easy, close to all amenities etc)
2. JLT - Jumeirah Lake Towers (Great location, good investment opportunities and renting our is quite easy)
3. Business Bay and Downtown (Next to Burj Khalifa/Burj Dubai, ideal location, great long term returns, would be one of the best places to live in the world)
4. Meadows and Springs( Only villas, expensive properties, property has declined substantially in the last few months, limited villas available in overall Dubai so an ideal buy in terms of demand. Great community life and high rents.)
5. Discovery Gardens (cheaper properties, not very difficult to rent out, location is pretty good next to Ibn-e-Batuta Mall, great long term potential)
Do also let me know if you have done any research of your own and if you are already thinking of investing somewhere.
Hope this helps and all the best in your research.
Thanks Zeeshan khan. Your answer was very comprehensive and enlightening. I am getting all the information I can, from your "community section" for now about buying something. Thanks a lot.