Dubai is a unique city in many ways – there really is nowhere else in the world quite like it. The city is renowned for its unique and ambitious architecture, so it isn’t that surprising that its real estate market is just as unique as the rest of it. In fact, Dubai has gained a reputation as one of the most desirable locations in the world to own property.
The futuristic architectural approach doesn’t just apply to Dubai’s many ambitious government-led projects. There are plenty of opportunities in the private sector for anyone looking to develop their real estate portfolio. Now that we are into the second half of 2018, now is the perfect time to take a look at the most desirable locations to buy property in Dubai.
Dubai Marina
Dubai Marina has been considered the most sought-after area of Dubai for real estate investments. This location offers the enviable mix of gorgeous, modern high-rise apartments, an abundance of retail and recreation outlets, and a beautiful waterfront setting. It seems that the Marina has managed to retain its top spot amongst real estate investors, and Dubai real estate agencies, for another year.
The Marina has, in fact, become even more desirable for investors since the launch of an ambitious beachfront project. The project signals an ongoing investment in the area, giving it a long-term allure and making it an excellent investment opportunity. The asking prices for property in the area have remained stable but may increase as developments continue to enhance the area.
Palm Jumeirah
Palm Jumeirah is another waterfront location that has displayed an enduring popularity. This location is a perennial favourite for investors in real estate. The Palm (as it is known) is home to some of Dubai’s most attractive upmarket properties. Like Dubai Marina, it is considered to be a reliable and safe area to invest in. There are already plans to build a number of luxury residential properties in the area. Upon their completion, it is likely that property values will rise.
Prices for property in The Palm have proven to be stable, something that real estate investors like to hear. As with Dubai Marina, it is likely that property values will rise in the near future.
Arabian Ranches
Arabian Ranches is a villa community and has risen to become one of the most desirable places to both invest and live in Dubai. It is, however, a much more recent addition to the list of desirable real estate locations in Dubai than the areas listed above. A burgeoning interest in the area seemed to be waning towards the end of 2017 but has since rallied.
With a number of development projects being planned for the area and a resurgence in the local secondary property market, Arabian Ranches has continued to attract interest. It is rapidly becoming regarded amongst the best places in Dubai to raise a family, opening up new worlds of possibility for real estate investors.
Jumeirah Village Circle
Those who are familiar with Dubai will not be surprised to find Jumeirah Village Circle on this list. As it stands, the mixed purpose development offers superb value for investors. Not only are property prices in the area very competitive, something which could change very quickly if there is a rush of investment, but Jumeirah Village Circle offers easy access to some of Dubai’s most popular locations.
Both Dubai Marina and Jebel Ali are located nearby, with numerous transport links between them. The current price range for property within Jumeirah Village Circle makes it a viable choice for those who want to access some of the more upmarket areas of Dubai, but who can’t afford to live there.
Dubailand
Probably the least predictable of all the entries on this list, Dubailand has only relatively recently managed to crack the list of Dubai’s most desirable areas. As you might have inferred from the name, Dubailand was always planned as a tourist-focused resort area. A number of ambitious projects including The City of Arabia, Dubai Lifestyle City, and Mudon, have all contributed to the area’s current reputation as an excellent investment opportunity.
The current state of the Dubai real estate market puts to bed the fears that some people had over the introduction of VAT to the territory. Far from hampering the small nation’s economy, it has proven resilient, and in fact, has improved in some areas.
The areas listed above represent the most desirable areas to invest and live in Dubai. However, Dubai is a fast-moving country, to put it mildly. There is no other city on Earth that undertakes the same number of ambitious building projects as Dubai. Coupled with its reputation as one of the world’s most popular tourist destinations, it isn’t hard to understand why Dubai has gained the solid reputation it has as a prime investment opportunity.
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