5 Ideal Locations for Real Estate Investment in Dubai
The Dubai property market is brimming with lucrative investment opportunities. Although property demand and prices fell in 2020 as a result of the global pandemic, they have since picked up and are on track for a strong recovery. According to reports, the villa market has returned to pre-COVID levels, while the apartment sector is still climbing. While the UAE government’s exceptional pandemic management is credited with the strong recovery, the role that Expo 2020 Dubai played cannot be overlooked. According to property reports, property sales in the Emirate have nearly doubled since the global fair began. Increased activity has been reported in key performing areas, making them suitable for real estate investment in Dubai. The 5 top most locations for Real Estate Investment in Dubai are:
Jumeirah Village Circle (JVC)
Let’s find out in depth, why are these the most prime locations for investment in Dubai.
Dubai Marina is one of the most famous and prime locations in Dubai. This location promotes a beach lifestyle. It surrounds itself by tourist attractions, skyscrapers and a wide range of entertainment choices. The most important attraction of this location is its water-facing properties including a desirable community making it great for your next investment.
It is one of those locations where you will possibly find everything just below each and every property located here. Residing in Dubai Marina allows you to live a life you’ve dreamt of, taking care of all the possible entertainment options out here. Properties in this area are in the mid to high range, providing investors with a high ROI. The majority of the properties are studios, apartments, and penthouses. However, villas are also available, albeit in limited supply.
From an investment standpoint, Dubai Marina has a lot of potential. During the first, second, and third quarters of the year, it recorded 1142 transactions worth AED 2,592 million, 1678 transactions worth AED 5,149 million, and 1542 transactions worth AED 4,020 million, respectively. The final quarter is expected to follow suit and deliver outstanding results for investors.
The ideal location of the community, as well as the availability of luxury residential high-rise developments and waterfront properties, are some of the major factors that make it a firm favorite of investors and end-buyers.
Business Bay, with its well-equipped infrastructure, is the next community on the list of best areas for real estate investment in Dubai. It is a mixed-use community designed to promote business in the Emirate but also includes impeccable residential developments, mostly high-rises with luxury apartments and studios offering an upscale lifestyle.
Business Bay properties are more expensive, the lifestyle is fast-paced, and the location is ideal. It lies between the Dubai Water Canal and Downtown Dubai. It may not be suitable for those looking for a villa lifestyle, but if you are an investor, there are plenty of opportunities.
These statistics show that the area remained an investor favorite throughout 2021. During the first quarter, it recorded 1079 transactions worth AED 1,431 while the Q2, 2021 property market report shows 1355 transactions worth AED 2,271. The third quarter also ended on a high note, with the sale of two of the most expensive properties in Business Bay (Volante worth AED 40 million and Dorchester Collection Dubai worth AED 37 million).
Palm Jumeirah is one of the most beautiful areas in Dubai, embodying luxury and superior craftsmanship. The crescent-shaped community is home to some of the most sought-after properties, complete with cutting-edge facilities and amenities. It provides an ultra-luxurious lifestyle surrounded by stunning water views and greenery. This is why, despite their high price, properties in this area provide an excellent return on investment. Palm Jumeirah also has popular hotels, resorts, and other attractions, making it a popular tourist destination as well as a popular location for real estate investment in Dubai.
When it comes to Palm Jumeirah real estate investment and properties, investors can choose from high-end apartments, penthouses, and villas. These properties are appealing to buyers because of their excellent infrastructure, cutting-edge amenities, and vibrant lifestyle. As a result, Palm Jumeirah is a regular member of the top areas in Dubai where people prefer to invest in real estate. It is also in a prime location among areas with the most expensive properties.
Jumeirah Village Circle
Jumeirah Village Circle (JVC), a mixed-use development by Nakheel, has long been popular among real estate investors and end-users. It is conveniently located, has reasonably priced properties, and has earned a reputation as one of Dubai’s best family-friendly communities. Because of its strategic location, the area offers a rather quaint lifestyle, 33 landscaped parks, and easy access to other communities and parts of the Emirate.
It is a suitable area for real estate investment because it remains in high demand among property buyers. According to property reports, 771 transactions totaling AED 661 million were recorded during the first quarter of 2021. The second and third quarters each saw 1024 transactions worth AED 793 million and 946 transactions worth AED 778 million.
Home to Burj Khalifa, Dubai Mall and other notable landmarks, Downtown Dubai is one of the best areas to find your new property at. Apart from being a prime location, this location stands as a priority for investors, residents and tourists, of course. Although the property prices range at a higher cost, this location guarantees an attractive ROI.
As an investor, you can target high-earning expatriates, who make up a sizable portion of the local population. It offers a choice of high-rise buildings to mid-sized villas and more catering to all kinds of needs based on different kinds of residents.