Apartments for sale in Dubai, UAE
Apartments are a popular type of residence in Dubai, as they offer both premium quality and access to a wide range of amenities within a single building. Developers are competing for potential investors by striving to make their projects as unusual and memorable as possible, so upscale apartments in Dubai often become true masterpieces with custom design, stylish signature furniture, and premium services and amenities, including the following:
- Swimming pools and waterside recreation areas.
- Modern gyms.
- Spa salons and lounge areas.
- Shops and restaurants.
- 24/7 concierge service.
- And many others.
Buying an apartment in Dubai
It’s now easy for foreigners to buy an apartment in Dubai, as the emirate has many freehold areas where expats may have full ownership rights on a par with UAE citizens. The sales of real estate in this emirate 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.
The demand for completed and off-plan apartments in Dubai is the highest in the following districts:
- Business Bay.
- The Dubai Marina.
- Downtown Dubai.
- The Jumeirah Village Circle.
- The Burj Khalifa.
Also popular are Dubai Hills, Sur La Mer, International City, and other communities.
Apartments in Dubai: prices
The value of apartments in Dubai depends on many parameters, i.e., the floor area, location, amenities available, etc. The average market price 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.
If you’re planning to buy an apartment 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.
Investment apartments in Dubai
Buying apartments in Dubai, United Arab Emirates is a wise and educated method of protecting your money. House prices constantly increase in the emirate; 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, however, as the real estate market in this emirate develops in cycles. Experts from AX CAPITAL note that prices are always higher in each new cycle compared to the previous one, so investors benefit either way.
A buy-to-rent property in Dubai generates an average of 5 – 8% per annum, while a short-term lease can yield 11 – 13%.
Selecting and buying real estate in Dubai
Are you planning to purchase apartments in the UAE? Experienced team members of the real estate agency in Dubai, AX CAPITAL, will be indispensable in this endeavour. Please fill in a request on the website and we’ll share detailed information, select a quality buy-to-live or buy-to-rent property, document the transaction, and provide after-sales service. Buying real estate in Dubai is quick, easy, and safe with us.