- Why Invest in Dubai’s Luxury Properties?
- Popular Areas
- Additional Benefits
- Tips for Investing in Luxury Real Estate
We’re delighted to return with our Expert Advice segment for March 2021! This month, we sat down with Anthony Joseph Abou-Jaoude, Associate Director at Provident Estate, to discuss the Dubai luxury property market in 2021.
In this exciting segment, Anthony delves into why it’s a great time to invest in the luxury property sector in Dubai, some of the benefits that homeowners can enjoy and his picks for the best luxury real estate projects in Dubai!
You can watch the full video below, or keep reading for highlights from the episode.
Why invest in luxury properties in Dubai in 2021?
Anthony reveals that prices have dipped over the last year, allowing more homeowners to enter the luxury real estate market. Bayut & dubizzle’s Dubai annual sale market report for 2020 also reveals that prime, upscale neighbourhoods like Palm Jumeirah, Dubai Hills Estate and Emirates Hills have seen sales prices become more affordable in 2020.
Aside from lucrative prices, more developers are offering post-handover payment plans and discounts on registration fees. Some developers are even choosing to waive the DLD registration fee entirely for buyers. Such incentives have led to an increased interest in Dubai luxury properties for sale, mentions Anthony.
Which areas are most popular for luxury property investments in Dubai?
According to Anthony, beachfront and golf course communities steal the spotlight when it comes to luxury homes for sale in Dubai. You’ll find that many of the city’s most beautiful residential communities, whether it’s for illas or apartments, feature lush golf courses and tranquil beaches.
Aside from one-of-a-kind properties and spectacular views, homeowners can also benefit from many amenities when they buy luxury property in Dubai. Those living in luxurious golf course communities in Dubai often receive free memberships to golf clubs and horse riding facilities, while residents of beachside communities enjoy private beach access and watersports.
Thanks to the attractive prices right now, Anthony says that it’s possible to buy a beachfront home in Dubai starting from AED 1.4M or roughly $400k, while golf course properties in Dubai are starting from an affordable AED 1.8M or $500k.
When it comes to luxury off-plan projects in Dubai, Anthony reveals his personal favourites in the episode. He mentions that the opulent XXII Carat community offers unparalleled waterfront villas, while The Dorchester Collection in Business Bay and One Palm on Palm Jumeirah also offer grand some of the best luxury properties in Dubai.
What are the benefits of buying a luxury property for sale in Dubai?
The Dubai luxury property market offers many unique benefits for both international and locally-based investors, says Anthony. International investors are keen to benefit from Dubai’s tax-free environment, which means they don’t have to pay taxes on their property purchase, capital gains and rental income.
Another reason why Dubai is the best place to buy luxury homes is the highly competitive price-per-square-foot. Compared to cosmopolitan hubs such as Geneva, London and Singapore, the price-per-square-foot in Dubai has been most affordable to date. Investors and homeowners can purchase apartments, villas and townhouses that offer the highest standard of interiors and amenities for much more reasonable prices.
Anthony also pointed out the increasing number of long-term visas for real estate investors in the UAE, such as the 5 and 10-year visas, are adding to the appeal of the upscale residential market in Dubai. The recently-introduced Retire in Dubai scheme also allows real estate investors above the age of 55 years to get a 5-year residence visa. Aside from taking advantage of the tax-free environment and competitive prices, property investors can now benefit from the city’s family-friendly lifestyle and cutting-edge infrastructure.
What should buyers keep in mind when investing in Dubai luxury real estate for sale?
Anthony advises buyers to take their time and research which area is best suited to them. Whether they are purchasing for investment purposes or as a new home, it’s important to do their homework beforehand about areas you’re interested in. Anthony advises researching the area’s transaction prices, rental activity and services charges over the last five years, as these are crucial factors that can help buyers and investors make an informed decision.
It’s also important to check your cash flow, says Anthony, as buyers who can make cash payments are likely to find more lucrative deals in the market. Learn all about the advantages of buying property with cash vs mortgage to find out which is the better choice for buyers.
About Anthony Joseph Abou-Jauode
Anthony Joseph About-Jaoude is the Associate Director at Provident Estate and the CEO of Primestay Holiday Homes. Anthony entered the real estate market in 2014 and has since then established himself as a leading property broker who is dedicated to meeting his clients’ requirements and delivering a high standard of service.
About Provident Estate
Founded in 2008, Provident Estate is a reputed property agency in Dubai that offers a comprehensive suite of real estate services. Their focus remains on providing clients with tailored advice and assisting them through every step of their real estate journey.
That concludes our Expert Advice segment on buying a luxury property for sale in Dubai! The city’s luxury real estate sector offers some truly unique homes to appeal to the most discerning buyers, while the additional benefits that come with the property purchase ensure a sound investment.
Discover the most popular areas for luxurious apartments in Dubai, where you can reside in a stylish property overlooking beaches and leafy landscapes. Or take a look at the most beautiful villa communities in Dubai that are home to stunning lakes and golf courses. Alternatively, browse listings on Bayut for luxury villas for sale in Dubai or sea view apartments in Dubai for sale, if you’re looking to invest in Dubai’s most luxury properties.
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