Dubai real estate is increasingly proving irresistible to investors and agencies. The United Arab Emirates (UAE) property market continues to gain momentum, as evidenced by the Dubai Department of Lands and Real Estate (DLD) reporting transactions totalling AED 26.5 billion (approximately US$70 billion) in May 2022 alone.
The total volume of transactions this year has exceeded 240 billion dirhams, which is 61% more than in 2021.
It is worth noting that the cost per square metre in Dubai is 3.5 thousand dollars, which is one and a half times lower than in megacities such as London.
In addition, the average rental price in central Dubai is 31% higher than in Paris, 27% higher in Berlin, and 44% higher in Madrid, making the UAE an attractive investment destination.
What you should know about Dubai real estate
4 Overpriced areas
Currently, the most popular areas in the Dubai real estate market are Business Bay, Downtown, Palm Jumeirah, and Marina. They are located near the Burj Khalifa and are on the first line of the beach. Housing prices in these areas range from $10,000 to $16,000 per square metre.
Since the start of the pandemic, apartment prices in Dubai Marina and Downtown Dubai have increased by an average of 22.7% and 11.2% respectively.
EquityMultiple
1. Sign up in minutes.
2. Invest in vetted real estate.
3. Easily build a more diversified portfolio.
4 Underrated areas
For investors, there are a number of undervalued properties in the UAE real estate market, the value of which is expected to increase by 20-30% in the next two years.
READ: American Dream: The Most Expensive Apartments in New York
The average cost of one square metre is $5,502. Dubai Hills is a central area of Dubai, located next to the sea. This green area already has a developed infrastructure with convenient transport hubs.
A metro station will be built here in 3-4 years. Since the beginning of the year, property values have already increased by 20%, and they are expected to increase by another 10% by the end of the year.
Expo City
The average cost of one square metre is $5,000. The UAE government plans to expand the metro towards the second Palma, which will make the area even more attractive.
Thanks to its convenient location and developed infrastructure, Expo City will be in demand, especially for long-term rentals, since mainly family tenants will settle here.
Meydan
The average cost of one square metre is $3,751. This area is attractive for its developed infrastructure, two English schools, hospitals, and convenient transport connections. Meydan also has an extensive park area, which makes it attractive for living and recreation.
Etihad Airways Destinations
Fly to Abu Dhabi with us or onwards to over 60 destinations across Asia, Australia, Europe, the Middle East and North America. And with no testing or quarantine in Abu Dhabi and most of our worldwide destinations, you can really make the most of your trip.
Jumeirah Village Circle (JVC)
The average cost of one square metre is $3,844. The demand for real estate is expected to increase in the JVC area. This quiet area has all the necessary infrastructure, including kindergartens, schools, hospitals, and a shopping centre.
The area is close to Dubai Marina, Palm Jumeirah, and JVT, where the Fashion TV building is being built. Transport accessibility allows you to get to the sea coast in just 5 minutes.
A whole investment firm of one.
Investing doesn’t have to be that hard.
Access stocks, ETFs, and more. Oh, and no commission fees. That’s right. Zero. Nada. Zilch. Your first stock is even on us.
*Conditions apply
Unveiling investment gems in Dubai real estate
The allure of Dubai real estate continues to captivate investors worldwide. As the UAE’s property market thrives, savvy investors are seizing the opportunity to tap into its vast potential. With a combination of attractive returns, affordability compared to global giants, and a robust infrastructure, Dubai real estate offers a compelling proposition.
While established areas like Downtown and Palm Jumeirah have their undeniable appeal, exploring undervalued areas in Dubai real estate like Dubai Hills, Expo City, Meydan, and Jumeirah Village Circle offers the potential for significant capital appreciation in the coming years.
These up-and-coming neighbourhoods boast excellent infrastructure, convenient location, and growing demand, making them prime targets for future growth within the thriving Dubai real estate market.
By carefully considering your investment goals and exploring the diverse options available, you can unlock the exciting possibilities that Dubai real estate presents.
_________________________________
Every month in 2024 we will be giving away one PlayStation 5 Pro. To qualify join our Facebook group, TikTok and Subscribe to our Sweet TnT Magazine YouTube channel
When you buy something through our retail links, we may earn commission and the retailer may receive certain auditable data for accounting purposes.
Recent Articles
- From NYC to paradise: Your ultimate winter vacation guide to Trinidad and Tobago
- The influence of central bank of Singapore on regional fiscal policies
- How nationals can open a US bank account from Trinidad and Tobago
- Caribbean Christmas markets: The ultimate guide for New Yorkers planning their 2024 holiday
- Singapore’s startup ecosystem: A hotspot for digital nomads in tech and finance
You may also like:
Explore awesome activities and places in Dubai and Abu Dhabi
Budget travel: Affordable ways to see the world
Autumn vacations: The most popular destinations
Planning your dream holiday to some place far from home
Places to visit in Coorg, the ‘Scotland of India’
9 Must visit top attractions in Singapore
@sweettntmagazine