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Your confusion is genuine because both are one of the best areas to invest in Dubai. However, if I would be at your place, I will prefer investing in Dubai Marina. This is because the current market trends show it is the most sought after location in Dubai by tenants and investors alike. This means if in future any time you would like to sell your property, you would be able to find good number of buyers willing to purchase at good prices.
Moreover, Dubai Marina is one of those locations which offered better capital gains and rental yields even during bad times as compared to other locations in Dubai. That is why I consider it a safe investment. Besides that, I believe if Dubai Tram opens in 2014, sale prices and rents will surely go up, since proximity is an important factor which investors and tenants always look for before renting or investing in any property.
Rightly said by Ana, in JLT you will have to face traffic issues otherwise the community is quite good to live in. Ana there are many chances that Dubai tram would open in 2014, since overall completion of project has reached 43%. Even if it does not open, Dubai Marina can be expected to offer all time high returns in future.
According to me, Princess Tower currently makes the hot spot for investment in Dubai Marina. Since this tower enjoys the reputation of being the tallest residential tower in Dubai, you can always find good number of tenants interested in your property and you can easily earn high rental yields after five years.
In Dubai Marina, service and maintenance charges are reasonable as compared to other communities in Dubai. Your budget is pretty good and you can easily buy a two bedroom apartment in Princess Tower. kindly check the following link of 2 bedroom apartments available for sale in Princess Tower that fall in your budget.
Thanks for your response Madiha.
I am also a little confused between Marina and JLT.
If I look in the long term, the dubai tram would be opening in around 2014. That should definitely hike prices up for Marina. For JLT, as soon as the road system and access to Shek Z. rd is improved, it should increase the prices of JLT as well.
I am very keen to buy a duplex apartment in X1 tower in JLT, but am not sure if its a better investment then Marina? Any ideas on that?
Thanks again madiha.
However my budget of 1.2 - 1.3 mllion is not gettng me a good apartment in marina. The princess towers has gone beyond 1.4 as the apartment handover has started.
Could u tell me:
1. Any other buildings in marina I should invest in?
2. I saw a duplex apartment in my range in X1 in JLT. Gave a villa like feel. But I am not so sure about the building maintenance. Will you have any idea about X1 towers?
3. Finally, any idea when the whole road access problem for JLT be resolved?
Will really appreciate your comments here.
I think your budget is pretty good to invest in Dubai Marina. Even if you think your budget is low, you always have the option to negotiate discounts with the seller. If you are good in negotiation, there are many chances that you may get an apartment at reasonable discounts. This is because properties in Dubai can be sold at less than 10% of their listed price depending on the negotiation skills of the buyer.
1) Besides Princess Tower, Marina Pinnacle, The Torch, Trident Grand Residence, Silverene and 23 Marina are also good buildings to invest in Dubai Marina.
2) X1 tower in JLT is a very good building to live in. Maintenance charges are reasonable here and the area offers high quality of life to its residents. I never said JLT is not good to live in as it is also one of the best areas to live in Dubai. If you have fallen in love with a duplex in X1, you can also go for it :).
3) No doubt there is some road access problem in JLT and I can not say exactly when the problem would be resolved completely. If your working place is near to your residence, you wont need to spend extra time on roads everyday to reach your office.
You seem to be an astute investor and I appreciate your efforts to make an informed property purchase decision. Good luck!
I am still in a fix :) the 2br I like are a little beyond my budget so I have decided to go for 1 BR in either marina or JLT.
But the agents I am meeting, everyone is giving me a very different opinion about which tower to buy an apartment in. Its like, which ever tower the agent has, he says this is the best one to invest in :)
I am getting a 1 br in princess towers for a little below 1 million. Is it a good investment if I wanna sell it after 5 years? Some people are saying its relatively new so no one knows how it market reputation turns up. Its a little far from metro too no? any downside for that?
And for JLT, is a 1BR in green lakes a safe investment?
The point is both these apartments are around 1 million (1 br). Isnt that too much for a 1br? should I go for a medicore tower where a 1br costs around 0.85 million?