Dubai, possibly the most famous one of all seven emirates, is currently home to 2,7 million residents. It is a thriving and happening city with a future that is bright both literally and figuratively – Dubai has got over 300 days of sunshine per year, and it will soon host Expo 2020. Coming up as well is the world’s new tallest building, The Tower at Dubai Creek Harbour. The emirate is already famous for having built the current tallest tower in the world, the Burj Khalifa, the world’s most luxurious hotel, the Burj Al Arab, and the largest made-man island, Palm Jumeirah. A visionary city and the business hub of the Middle East, Dubai’s offer of apartments for sale is diverse, accessible and ever-growing.
Types of Apartments in Dubai - Even though Dubai became famous for its oil reserves, oil now makes out less than 5% of the emirate’s revenue. Instead, the city has reinvented itself as a leader in tourism, aviation, finance and real estate. Apartments for sale in Dubai are tempting to investors worldwide as they have become synonymous with a high-end lifestyle in a top holiday destination. Apartments for sale in Dubai can also be premium investment assets. Residential buildings in Dubai often feature swimming pools, gyms, spas, 24-hour security service, and more. There are furnished and unfurnished apartments for sale across the city. Units are built for singles (studios, 1-bedroom), couples (1-bed, 2-beds) and families (2, 3, 4-beds and above).
Popular Areas in Dubai - Apartment sizes and whether they are family friendly or not depends mostly on the areas/developer. Some of the consistently popular communities for buying apartments in Dubai are Dubai Marina, Downtown Dubai, Jumeirah Lakes Towers (JLT), Business Bay, Palm Jumeirah and Jumeirah Village Circle (JVC). Dubai Marina is particularly popular for luxury apartments and penthouses with spectacular views of the Arabian Gulf and the Marina itself. Downtown Dubai is sought-after due to proximity to the Burj Khalifa, the Souk Al Bahar and the Dubai Opera. Other areas for investing in an apartment in Dubai may not be at the top of the popularity index, but they offer a more affordable luxury lifestyle.
Potential for Return on Investment in Dubai - With an ever-growing population of expats (85%), Dubai is ideal for acquiring buy-to-let apartments. The average ROI on apartments in the city often stands at an impressive 7% for capital appreciation. Regarding the rental yields per community, the highest profit comes to owners of units in Dubai Marina. In terms of types of apartments for sale, superior ROI comes to those who invest in studios. For these units, Dubai Silicon Oasis has been known to reach a remarkable 10% return on investment. Communities like Dubai Sports City, Arjan and Jumeirah Village Circle are known to generate high rental yields as well - 9% and higher. Another good option for capital appreciation is one-bedroom units, especially 1-bed apartments for sale in International City Dubai (10% ROI).
Lifestyle and Community in Dubai - In Dubai, expats from across the globe make out most of the population. As a tax-free city with little crime, it is a favourite among families. However, due to its never-ceasing flow of job opportunities, singletons are equally keen to buy there. The most common lifestyle destination for everyone is, of course, the beachfront. Lush and glittering shopping malls, dining venues, entertainment centres, parks, and sports facilities are aplenty for those who buy a flat in Dubai; as are schools, universities, museums and galleries. Some important factors to consider when purchasing an apartment in Dubai is whether the area is freehold or not. If an area is a freehold, it will give you full ownership of your desired apartment/investment asset. Furthermore, consider the developer’s track record, nearby amenities, proximity to the beach and, if you don’t drive – the commuting options. In Dubai, the red metro line connects the far-end sides of it (Jebel Ali on one side and Rashadiya on the other), while the green line passes through the populated areas of Deira and Bur Dubai. In addition to the metro, Dubai has buses operating throughout most of the communities, while trams, taxis, water taxis, Uber and Careem are also popular options of transportation.