Dubai is one of the most beautiful, multicultural, and fastest-growing cities in the world. It boasts of stunning infrastructure, cultural diversity, a stable economy, and a rich heritage. This is why many local investors, foreign nationals, and ex-pats prefer it for real estate investment in the best places to buy property in Dubai.
Having a population of 2,921,376 as of 2021, the city is growing by 1.50% annual change. The property prices in Dubai are stable and rental yields are high which are other reasons to invest in the city.
With premium property spots like Dubai Marina and Business Bay, the city is ranked high for offering the best infrastructure and quality of living in the Middle East. If you are interested in investing in the Dubai property market, you are going in the right direction.
Dubai is considered the investment capital of the UAE and there are valid reasons for this. It is also one of the most famous cities attracting tourists from all over the world. However, to invest in Dubai property, you need to learn which areas are ideal for ensuring promising returns.
In this blog, we are going to walk you through all the best locations for buying property in Dubai. Explore these locales to find the right one as per your preferences and budget. Let’s move ahead.
Most Popular Destinations for Purchasing Property in Dubai
Presenting the first on our list is Dubai Marina, a place famous for beautiful luxury villas, high-rise apartments, and a series of retail and dining outlets. In this place, the prices of the properties are stable. You can purchase 1 BHK apartment for an average price of AED 1.15 million and 2 BHK apartments for an average price of AED 2 million.
Buying property in this location can prove to be a fruitful investment for you. You can also earn high rental yields if you choose to let out the property after owning it.
In the center of Dubai Marina is located- the Dubai Marina Mall. It is one of the biggest and most famous shopping malls in Dubai. Housing 140 retail outlets, this mall has everything in store for you, just explore it. Also, the upcoming Bluewaters Island project has many good things in store for property investors who opt for this location.
Another preferred location for real estate investment in Dubai is Palm Jumeirah. It is one of the most sought-after locations because of its consistent development, marvelous projects, and upscale location. With projects like Palm Beach Residence and Raffles coming up, there’s no reason one shouldn’t consider this area for property investment.
Property prices have remained stable as of now. However, they are expected to peak when these projects are completed and available for sale.
You can purchase 1 BHK for an estimated price of AED 2.14 million and 2 BHK for an estimated price of AED 2.58 million. The location is also popular for its luxury villas. You can own a three-bedroom villa for a price of AED 6.2 million.
Some more popular projects that attract real estate investments are- The Pointe, Club Vista Mare, and Nakheel Mall. They are a good choice for earning a high rental yield if you prefer to invest when the prices are still favorable.
Earning the spotlight for its proximity to the world’s tallest tower-Burj Khalifa, Dubai Fountain, and Dubai Mall, we have Downtown Dubai.
Earlier known as Downtown Burj Dubai, this place is spread over a large area. Here you can find several high-rise apartments and towers. This place is usually crowded with tourists as Burj Khalifa is one of the most visited tourist attractions for people all over the world.
Prices are usually on the higher side in Downtown Dubai. You can consider buying residential properties such as a one-bedroom apartment for an average price of AED 1.45 million and a two-bedroom apartment for an average price of AED 2.75 million. The high rental yields which are around 5.4% are another reason for investing here.
Jumeirah Village Circle
A coastal residential area of Dubai, Jumeirah Village Circle is another popular destination for real estate investors. Located nearby Dubai Marina and Hebel Ali, it has low-rise private dwellings and luxury hotels.
You may find it a little more affordable than Palm Jumeirah and Downtown Dubai. Here, you can purchase a one-bedroom apartment for an estimated price of AED 740,000 and a two-bedroom apartment for AED 1.1 million. However, the exact prices vary depending on the type of property you choose to buy. This area is quite popular amongst ex-pats who are working in Dubai and want to make some investments.
Located in the heart of Dubai, Business Bay is another beautiful location to consider for Dubai property investment. With a well-developed infrastructure, it is an ideal place for trading, luxury living, and promoting corporate relations.
Entrepreneurs and property investors can crack a good deal by investing here. The location is appropriate being next to Burj Khalifa and the DIFC, freehold areas (made for foreign nationals to buy and rent property in Dubai).
Business Bay is equipped with over 240 towers, high-standard buildings, and luxury facilities. One of the best choices for property investment is if you are looking to buy commercial offices. Owing to these offices, the location is soon going to become the business capital and a freehold region.
Not only this, many towers have residential apartments available for rent and sale, you can explore these to find the best match to invest in Dubai.
Jumeirah Lake Towers
When you want to invest in a Dubai property while staying within your budget, Jumeirah Lake Towers is an excellent choice. You can buy or rent high-rise apartments here that are opposite the luxury towers of Dubai Marina.
This place offers every luxury facility to you at a lower price tag which makes it one of the most sought options for real estate investment.
People living in residential properties in Jumeirah Lake Towers can enjoy going out in bars, culinary outlets, gyms, pools, and more. For shopping enthusiasts, the Dubai Mall is close with hundreds of retail outlets that have everything in store for you.
You can buy studios in Jumeirah Lake Towers for an average price of 590k while a one-bedroom apartment for 900k and a two-bedroom apartment for AED 1.35 million.
Last but not least in our list for the best places in Dubai comes Arabian Ranches. A popular place for investment in Dubai, it has numerous villa communities. The development is consistently happening as the population is also increasing in the city.
The investors are showing greater interest over the years and which is why several new projects are coming up. The off-plan projects and secondary property market are two reasons for continuing interest of the investors.
People who want to get settled down with their families can choose to live here as it offers all kinds of luxuries and amenities. It is an excellent investment opportunity for you to buy a villa in Arabian Ranches.
If you are interested in investing in Dubai real estate, it is a wonderful choice to go ahead with your decision. This way you can secure your future and invest your money for good. You can also check out the pros and cons of buying property in Dubai to make an informed choice.
To get more advice on the best places to invest in the real estate market of Dubai, you can consult our experts at Allegiance today. We are here to help you with the most appropriate investment advice that not only brings high Returns on Investment but opens up more prospects for you in the future.
Connect with our team today!