Best Areas for Investment in Dubai Property in 2021

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    Dubai is appealing to people all over the world. The city has many attractions to offer, from the best-in-class real estate properties to tax-free earnings.

    Lured by Dubai’s attractions, many people from across the world have relocated to the city, and the trend of foreigners moving to Dubai is on an increasing mode.

    Due to the heavy influx of foreigners, the city’s real estate market sustains heavy demand for properties.

    When it comes to purchasing a property, Dubai is one of the best cities for investment in a property. With a matured real estate market, Dubai offers investors a broad spectrum of properties, ranging from apartments to villas.

    Whatever your property choice can be, selecting the right location for investing in a property in Dubai is one of the critical determinants of the return on investment(RoI). And with ample properties for sale in Dubai, you can find your dream home in no time.

    Here, we outline the best areas in Dubai for property investment:

    Dubai Marina

    Dubai Marina has attracted real estate investors for the last few years. Many investors prefer to purchase a real estate property at Dubai Marina, where there are plenty of world-class properties for sale.

    Dubai Marina is a waterfront location that adds to its growing popularity. You will get to see all types of apartments, villas, and other sale properties at affordable prices. The recent launch of Emaar’s attractive Bluewaters Island project also adds to the attractiveness of investing in a property at Dubai Marina.

    Property prices at Dubai Marina have remained more or less stable. And you can reap substantial benefits from investing in a property there. Apart from being stable, properties are also affordable.

    The average price for a studio apartment in Dubai Marina is AED 800,000, one and two-bedroom apartments come at AED 1.15M and AED 1.9M, respectively. Besides, you can get an RoI of 6.4 percent from a flat in Dubai Marina.

    Palm Jumeirah

    It is a favourite investment destination for many property investors. Its convenient location and the slew of modern real estate projects make Palm Jumeirah one of the best places to invest in Dubai property.

    Investment in real estate in Palm Jumeirah is likely to gain further momentum after completing the luxury Palm Beach Residences and Raffles projects.

    Property prices in Palm Jumeirah have remained almost stable since 2019. Sale prices of studio apartments are at AED 1.15M. For one and two-bedroom apartments, the prices are at AED 2.14M and AED 2.58M, respectively.

    Palm Jumeirah is also a preferred place for purchasing both apartments and luxury villas in Dubai.

    You can purchase a three, four, and five-bedroom villa at AED 6.2M, AED 9.2M and AED 16.5M, respectively.

    The secondary real estate market in Palm Jumeirah is prevalent, and that also serves the needs of property investors in Dubai.

    Downtown Dubai

    Downtown Dubai needs no introduction as it is a popular place, with remarkable attractions, like the famous Burj Khalifa, Mohammed Bin Rashid Boulevard, and the Dubai Mall.

    The place is also known as ”The Centre of Now” and is undergoing mega-development, spread across 500 acres of land.

    You will get to see all kinds of real estate properties in Downtown Dubai. Modern and high rise apartments are in and around the centre of the place, and the traditional ones are mainly in the Old Town.

    There can be no reduction to the appeal for the place as the attractive tourist spots will continue to draw in people.

    However, property prices in the place are on a higher side. Studio apartments come at AED 920,000, and one and two-bedroom apartments come at AED 1.45M and AED 2.7M, respectively.

    The higher prices do not erode the appeal for owning a property in Downtown Dubai. At around 5.4 per cent, higher rental yields are one reason for purchasing properties in Downtown Dubai.

    Arabian Ranches

    The popularity of Arabian Ranches as a preferred property investment destination is growing day by day.

    It is one of Dubai’s best places for investing in villas, which have been drawing interest among the people looking to invest in a property in Dubai.

    The availability of off-plan properties and an active secondary market are also the catalysts that intensify people’s interest to purchase properties in the place.

    You will get all types of properties in Arabian Ranches, which is also the best place to invest in Dubai villas.

    The average prices for three-bedroom villas in Arabian Ranches is AED 2.6M. While four-bedroom villas are priced at AED 3.8M, five-bed units cost AED 4.5M.

    You can expect an RoI of around 5.8 per cent from the investment in a villa in Arabian Ranches.

    Jumeirah Village Circle

    Jumeirah Village Circle also figures among the best places for investing in properties in Dubai.

    What makes the place one of the preferable places for property investments is the easy access to Dubai Marina, JLT, and Jebel Ali.

    With competitive pricing of the villas and apartments, interest among people to invest in Jumeirah Village Circle properties has grown manifold.

    In Jumeirah Village Circle, the prices of studio apartments are at around AED 485,000. One-bedroom apartments cost around AED 740,000, and two-bedroom apartments come at AED 1.1M.

    When it comes to the RoI, you can expect that at 6.7 per cent.

    Jumeirah Lake Towers

    For property investors in Dubai, Jumeirah Lake Towers is something to look at exclusively. The availability of affordable properties in the place makes it a great choice for investors looking to invest in Dubai properties.

    You will get best-in-class high-rise apartments for sale, which are located opposite the luxurious apartments in Dubai Marina.

    Apartments in Jumeirah Lake Towers have similar amenities but comes at a lower price tag. It enables you to make the best investment in a property in Dubai at affordable rates.

    Conclusion

    Purchasing a property in Dubai is a good investment that will enable you to stay in the fantastic city without concerns about rents. Moreover, owning a property in the city can give you good RoI. But, make sure that you choose the right location to purchase your property so that you can enjoy your stay in the city to the fullest.