The primary housing market in the United Arab Emirates is concentrated mainly in Dubai – recognized as the most important commercial and financial center of this wealthy country, located on the Persian Gulf’s shores. To find apartment for sale by the sea in UAE, you should consider several most relevant areas of the local market for new buildings.
In Dubai, a significant decline in housing prices was recorded due to a slowdown in the global economy and an oversupply:
- in Downtown Dubai, prices fell by 16%;
- housing in the famous Burj Khalifa became cheaper by 16%;
- in Dubai Marina – by 5-7%.
The cost of villas and townhouses also decreased by 9%. But, even though buyers periodically take a wait-and-see attitude in their actions, the most popular areas of Dubai do not experience a global shortage of investors.
The excellent place of the Dubai Marina area today offers a wide variety of apartments and a wide spectrum of retail venues and cafes, making Dubai Marina a clear choice among property investors.
Most recently, one of the largest developers in Dubai, Emaar, has begun constructing a project on an artificial island between The Palm Jumeirah and Dubai Marina. Now, it is in significant need among citizens of the CIS. The main reasons are the presence of the beach and the fact that this is a new foundation, where the quality of materials is better than in most buildings built ten years ago.
Downtown is the center of Dubai and requires no warm-up. It is house to the world-famous Burj Khalifa and the Dubai Mall, making it one of the most visited places in the world. Downtown Dubai, also known as the “Center of the New,” is a metropolitan area covering 500 acres of ground. This location is well-known for its extravagance flats in Dubai. Demand for property in the area is expected to continue due to its proximity to Burj Khalifa. While prices are at their peak here, high demand from both the new and used market makes Downtown Dubai a good investment opportunity. Buyers know this, which is why the area occupies one of the leading positions regarding the number of property trades.
It is a new area under construction in Dubai and is currently one of the regional leaders regarding the number of transactions. The reason for this is quite simple: reasonable prices within Dubai and convenient payment by installments. Buyers are also attracted by the infrastructure of the area, which offers a golf course, a leafy garden of 1 sq. km, a large number of walking areas, which are not so many in Dubai, a new shopping center that was opened at the end of 2019, cafes and restaurants.
No wonder this area is very popular with families. Therefore, buying a home in Dubai Hills may be an excellent location for the customer to buy real estate in Dubai to rent out and live. It is also worth mentioning that the Dubai Hills area has been added to the list of areas with premium real estate. This happened because villas appeared in Dubai Hills near the golf course.
However, the popularity of the Dubai Hills area has grown not only in the luxury segment but also in the average – all thanks to reasonable prices and a suitable payment plan.
At the same time, the demand for property for sale in Dubai, which grew due to the above factors, did not significantly affect the demand for buying a home in other areas. Even though there was a decrease in interest in these areas after the “promotion” of Dubai Hills, these areas soon returned to their usual places of leaders in the region.
Property in Dubai
If you have yet to decide what area to choose, it is the right time to use the services of Emirates.Estate website. You may discover all the necessary information here, including the prices which you may compare.