Apartments for sale in Dubai
Upscale flats in Dubai are highly liquid and high-yield homes that make great buy-to-live or buy-to-rent properties. A distinctive feature of these residences is convenient floor plans that will satisfy the most sophisticated connoisseurs. Custom-designed apartments with stylish signature furniture and numerous premium services provide access to a wide range of amenities within a single building. Developers are competing for potential investors by creating projects with distinctive architecture, where owners of flats for sale in Dubai can live in comfort without setting foot outdoors. The following is often available to residents:
- Swimming pools and equipped recreation areas;
- Access to a private beach on the coast of the Persian Gulf;
- Modern gyms;
- Spa salons and lounge areas;
- Shops and restaurants;
- 24/7 concierge service;
- And many other benefits.
The full range of services depends on the complex’s location and master plan.
It’s now easy for foreigners to buy freehold apartments in Dubai, as the city has many such areas for expats, where they may have full ownership rights on a par with UAE citizens. The sales of real estate in Dubai have increased by 60%, up to 68,500 transactions worth AED 184 billion (USD 50.1 billion), since the start of the year, which is 77% more than last year. The overwhelming majority of deals were closed on apartments.
Cost of apartments in Dubai, UAE
Apartments prices in Dubai depend on many parameters, i.e., the floor area, location, amenities available, etc. The average cost of apartments in Dubai per square metre is approx. AED 18,950 (USD 5,160) for off-plan apartments and AED 11,450 (USD 3,120) for completed properties.
In the third quarter of 2022, an apartment in The Royal Atlantis was sold for AED 163 million (USD 44.4 million), making it the most expensive in the history of the entire Dubai real estate market. Notably, prices of premium apartments are sometimes higher than those of opulent villas. The highest-value properties are normally found in the prestigious community of Palm Jumeirah. These homes are part of projects such as:
- The Royal Atlantis;
- Six Senses;
- One;
- Ava.
If you’re planning to buy apartments in Dubai near the beach, Palm Jumeirah is an excellent choice. The Dorchester Collection Dubai in Business Bay is also in the top 5 projects with opulent apartments. If you want to admire the view of the Persian Gulf and the Burj Al Arab, apartments in Dubai should be selected in Umm Suqeim 3.
Lifestyle in Dubai
This city is a buzzing modern megalopolis that is extremely friendly to foreigners. Most of its population is comprised of other countries’ nationals. In Dubai, the traditional Arabian culture blends seamlessly with access to landmarks that cannot be seen anywhere else in the world, such as the iconic Burj Khalifa skyscraper, the man-made Palm Jumeirah archipelago, and the planet’s largest Dubai Mall. The megalopolis’s infrastructure is aimed at meeting the needs of various groups, so local living is just as comfortable for retirees as it is for young professionals and families with children.
Apartments in Dubai for investments
If you are looking for high-yield flats, buy in Dubai, and you can be sure of protecting your money. House prices constantly increase in this city, e.g., the average growth reached 11.9% over the first three quarters of the current year alone, and prices in some upscale districts, such as Palm Jumeirah, have surged by over 100% since the start of the pandemic. These high growth rates are not consistent, as the real estate market develops in cycles. Experts from AX CAPITAL, however, note that prices are always higher in each new cycle compared to the previous one, so investors benefit either way.
The demand for completed and off-plan apartments to buy in Dubai, United Arab Emirates, is the highest in the following districts:
- Business Bay;
- Dubai Marina;
- Downtown Dubai;
- Jumeirah Village Circle.
Also popular are Dubai Hills, Sur La Mer, International City, and other communities.
A buy-to-rent property in Dubai’s popular districts generates an average of 5 – 8% per annum, while a short-term lease can yield 11 – 13%.
Buy an apartment in Dubai with AX CAPITAL
If you are planning to purchase buy-to-live or buy-to-rent apartments in the UAE, experienced team members of the real estate agency in Dubai, AX CAPITAL, will be indispensable in this endeavour. You can view the available listings in real time. Please fill in a request on the website and we’ll share detailed information, select a quality property, document the entire transaction, and provide after-sales service. Buying real estate in Dubai is quick, easy, and safe with us.