Apartments are one of the most popular and profitable types of property in the emirate. Representatives at Metropolitan Premium Properties will help you to quickly and efficiently conclude a purchase/sale transaction, taking care of all legal and document issues.
Apartments are one of the most popular and profitable types of property in the emirate. Depending on the size and location, this type of residence can generate an ROI of 5-9%. The majority of residential buildings in Dubai include an extensive range of amenities, including private parking, swimming pools, children's and sports playgrounds, gyms, and much more.
Over 60% of rented properties in the emirate are apartments, and the average annual cost of renting an apartment is AED 48,000 (USD 13,000). Buying an apartment will not only allow you to invest your funds reliably, but also provide a stable passive income. Representatives at Metropolitan Premium Properties will help you to quickly and efficiently conclude a purchase/sale transaction, taking care of all legal and document issues.
Investors can purchase both completed residences and off-plan properties. The price of apartments during the construction stage is approximately 30% lower compared to ready-to-move-in units.
Unlike countries in the CIS, the size and layout of apartments in Dubai are not characterized by the number of rooms. The developer specifies the number of bedrooms to which other rooms are attached. The layout of classic apartments in the UAE includes one or more bedrooms with built-in wardrobes or dressing rooms, one or more bathrooms, a kitchen with built-in appliances, combined with a dining room, and so on. The average size of such properties can range 93-186 square meters, and depending on the class of the building, the residence can be complemented with a balcony, terrace or a maid's room.
A studio is an apartment with an open layout, including a small kitchen area, a living room, separate bathroom and a bedroom. The average living space for this type of property is 35-40 sq. m.
Another common type of apartment in the Emirates are penthouses, which are spacious elite residences generally located on the top floor of a building. In some projects, an entire floor is allocated for this type of property. The penthouse layout may include a bedroom for staff, a personal office, a terrace with a seating area, a private garden, a pool, and much more.
According to the Bayut & Dubizzle report, as of the second quarter of 2022, Jumeirah Village Circles was the most popular among buyers in the budget segment. The average cost of purchasing a studio in JVC was AED 419,000 (USD 114,000), and apartments with 1 bedroom were AED 682,000 (USD 186,000). Residences in Jumeirah Lakes Towers, Dubai Sports City and Dubai Silicon Oasis were also in demand among buyers and investors.
Traditionally, Dubai Marina remains the most popular neighbourhood for buying luxury apartments. The average cost of housing here is AED 1,210,000 (USD 329,000). Apartments in Downtown Dubai, Business Bay, Palm Jumeirah, Jumeirah Beach Residence, and Dubai Hills Estate are also in high demand.
Apartments, studios and penthouses in Dubai from global developers
The new luxury project, The Highbury, by Ellington Properties offers luxurious studios and 1-3 bedroom apartments, a limited collection of duplexes, and an exclusive 4-bedroom penthouse with views of Burj Khalifa, Ras al Khor, and the crystal lagoon.
The new luxury complex, consisting of two towers, Skyhills Residences, is being built in Dubai Science Park and offers studios, 1-3 bedroom apartments, and 3-bedroom duplexes for purchase.
Burj Binghatti Jacob & Co Residences is a unique and ultra-luxurious project by Binghatti Developers, in collaboration with the jewelry and watch brand Jacob & Co.
Canal Heights is a residential complex on the Dubai Water Canal waterfront in Business Bay, developed by DAMAC Properties.
Aeon - a new premium-class complex by Emaar Properties in the actively developing Dubai Creek Harbour.
Bluewaters Bay by Meraas is a new complex with a unique location between Bluewaters Island and JBR. Elite apartments with 1-4 bedrooms and three exclusive penthouses with premium amenities, views of the Arabian Gulf and city skyline are available for purchase here.
The process of buying an apartment in Dubai starts with choosing a suitable housing option. To find a residence that fully meets your goals and budget, the best solution would be to hire an experienced realtor. Metropolitan Premium Properties agents will familiarize you with all the features and trends of the emirate's real estate market, assist in the negotiations, prepare a package of documents, and will accompany you during all stages of the transaction.
The buying process consists of the following sequential steps:
Additional expenses during the process of buying apartments:
If the residence was purchased through a mortgage, the buyer will also need to pay a DLD fee of 0.25% of the loan amount.
According to the results of the first half of 2022, apartments in Dubai Sports City showed the highest ROI level of 8.04% among residences in the budget segment. Additionally, returns of 7.66-7.77% were recorded in the Jumeirah Lake Towers and Dubai Silicon Oasis areas.
Dubai Marina also remains the most popular area among tenants of luxury apartments. The average return on investment for residential properties here was 6.97% per annum. High ROI indicators in the premium segment were also noted in the Dubai Hills Estate (6.49%) and Downtown Dubai (6.2%) areas.
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Senior Property Consultant – Metropolitan Premium Properties
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Chief Real Estate Investment Expert at Metropolitan Premium Properties
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Our experts will help you choose the best. You will get full information about the object you are interested in and the available layout options
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