Dubai is the new hot spot among property investors! With the Dubai Expo of 2020, Dubai is going to transform itself from an oil-centric economy to a knowledge-centric economy. That means internal development and improved infrastructure, transparent dealings and better job opportunities, and of course, an increase in the number of residents. Due to this, Dubai has seen a considerable rise in the number of upcoming residential developments and off-plan properties. Investors are flocking to buy property in Dubai, and if you’re considering investing too, then these are some of the best areas in Dubai to purchase a property.
1. Dubai Marina
You can speak to all the real estate brokers in Dubai, and they will all recommend buying a property in Dubai Marina. Given the investment will be pretty large, but so will the return on investment. Dubai Marina is a popular area which is known for its sky-high residential buildings which overlook the marina. Along the marina, there are quite a few restaurants and retail stores, which makes this area very central and very popular, among locals and tourists alike.
2. Downtown Dubai
The area where the world-famous Burj Khalifa stands is known as Downtown Dubai. There are quite a large number of residential apartments here, some of which are under construction. This area is known for its high rise apartment buildings which have a gorgeous view – on one side, you have a view of the city while from the other side you get to enjoy a panoramic view of the water. Just think about it, who won’t want a property right next to the Burj Khalifa?
3. Palm Jumeirah
Palm Jumeirah is a man-made wonder – it is a 3 mile long and 3 mile wide man-made island in the shape of a palm. When you’re skydiving in Dubai, or just flying over Dubai, that huge palm-shaped structure is what you see from above. Palm Jumeirah basically has over 4000 villas and quite a few residential apartments which have been constructed in recent years. If you’re looking to invest in a holiday home, or you’re looking to invest in a high-value property that can be let out to visitors and tourists, then Palm Jumeirah is a great investment!
4. Arabian Ranches
If you’re looking for upcoming areas to invest in, then you should consider investing in the Arabian Ranches villa community. While the asking price for each villa is pretty high, the return on investment is equally high, which makes this a great purchase. This area looks very different from modern Dubai – instead of sky-high buildings and spacious shopping malls, you’ll find a stretch of luxurious world-class villas. But when it comes to selling these spectacular villas to a potential buyer, you can make a huge profit! If you’re considering investing in the Dubai property market to sell within a few years, then Arabian Ranches is a great investment.
5. Jumeirah Village Circle
Jumeirah Village Circle is a recently developed township which basically consists of villas and town-houses. Just because the area has the word village in it, doesn’t mean you should think less of it – the villas and townhouses here sell for millions and millions, of every currency. There are plenty of green spaces, parks, schools and community centres, which makes this a rather independent township. If you’re looking to invest in a property that is high-end and luxurious, but away from the hustle and bustle of the city, then you should definitely think about investing in the villas and townhouses of Jumeirah Village Circle.
Dubailand has been attracting a lot of attention from potential investors in recent years, especially with the upcoming Dubai Expo of 2020. Think of Dubailand as a world of its own – with world-class entertainment, sports fields, leisure and recreational areas and fancy residential buildings, this area has become very popular. If you want to invest in stylish villas and modern apartments, then Dubailand is a really good investment opportunity, especially since the prices are expected to rocket within a few years.
Based on the amount you’re willing to invest and your reasons for investing, you need to do your research. Be it an investment as a personal asset, an investment for rental income or to make a profit on the sale, you should invest in an area that suits your requirements. In order to invest in Dubai, you don’t need to have a residency permit. According to the laws, any person can purchase in Dubai’s freehold property market in designated areas as authorised by His Highness the Ruler of the Emirate of Dubai. So, the best way to do so is by hiring a real estate agent or a property broker who knows the procedures and laws regarding property investment, who can help you understand the legalities and can help you close the deal.