Buying an apartment in Dubai
If you are thinking about buying an apartment in Dubai, prepare to be spoilt for choice. The city’s enduring popularity with those looking for a glitzy life in the sunshine has meant that the city has had a constant flow on new buildings and properties coming on to the market for many years now. When it comes to looking at apartments for sale in Dubai, there is something to suit every style and budget.The right apartment for you
Here is a round-up of the different type of properties you might be looking at.Apartments: Normally ranging in size from one bedroom to four bedrooms, apartments are great for individuals and families and can vary in style from simple and cosy to spacious and fancy.
Serviced Apartments: If you don’t want to fork out on furniture, a fully furnished apartment is a great option. Some also offer housekeeping services giving the comfort and convenience of a hotel with the privacy of a home.
Studios: If you're all about low-maintenance, solo living, buying a studio in Dubai might be just right for you. The lowest in terms of price and the smallest in terms of area, studios are easy to rent out and always popular with professionals and individuals.
Penthouses: For the optimum in luxury, penthouses are on the highest floor of the building, often with killer views, extra space, fine details and usually with some extra luxe factors and benefits.
Duplexes: Split level, open-plan homes give all the space of a villa with the top location options of an apartment. Two-floored apartments connected with a staircase and usually quite open plan, buyers with a penchant for style often opt for duplex apartments in Dubai.
Lofts: If high ceilings and open spaces are your thing, loft-living is a smart choice. In comparison with the compact living of a studio, lofts tend to have a larger floor space, separate bedrooms, and quirky design features.
Dubai’s top spots for apartments
Palm Jumeirah With access to miles of beaches, five-star spas and entertainment at the many hotels on the island, as well as so many restaurants and bars that you could probably never get to all of them, the Palm, as it is commonly known, is one of the most popular locations for people looking for properties for sale in Dubai.The Greens One of the more established communities in Dubai, The Greens offers quadrants of four apartment blocks centred around a communal pool, play park and gym area. For those wanting the holiday vibe 365-days-a-year this is the place for you. A convenient community centre with a supermarket, eateries, coffee shops and more, The Greens offers a complete lifestyle.
Downtown Arguably the beating heart of the city, Downtown is right on the doorstep of Burj Khalifa, Dubai Mall and Souk Al Bahar, which has an enviable selection of bars, restaurants and shops. The excitement never sleeps here with Dubai Fountains, some of the city’s favourite exercise studios, hotels, top restaurants and more. Prepare to sit out on your balcony and count the number of supercars cruising past on any given day.
Dubai Marina One of the original waterfront communities, Dubai Marina is also one of the most in-demand locations for people looking for apartments for sale in Dubai. A short walk from the beach, a stone’s throw from thousands of beautiful bars and restaurants, Dubai Marina Mall and lots more. In Dubai Marina, choosing the perfect unit for you can be difficult as you can find apartments, studios, duplexes, penthouses – the works!
JLT Right over the road from Dubai Marina is Jumeirah Lakes Towers, or JLT as it is more commonly known. The more peaceful cousin of the buzzing Marina, JLT has some picturesque lakes giving a serene vibe, plus lots of trees and green space and some lovely walking/cycling paths.
Dubai Silicon Oasis On the outskirts of the main city, Dubai Silicon Oasis has affordable apartments while also offering great access to some of Dubai’s top schools and business districts. A wide variety of apartment styles and facilities are available here so it is worth taking your time to see what’s on offer.
A good investment choice
After a phenomenal year in 2023, Dubai’s real estate market is set to keep on soaring. Already claiming more than half of the GCC’s business transactions in terms of total money made, a recent study suggested that Dubai’s real estate market is expected to increase by about 15 percent in 2024.Some prime locations, such as Palm Jumeirah, are expected to go up in price by as much as five percent, while the rest of the emirate is expected to see an increase in property prices of approximately 3.5 percent. For investors and homebuyers, this is good news as it points to a promising return on investment (ROI).
The last quarter of 2023 saw significant increases in the prices of apartments in specific areas, such as Dubai South and JLT making it popular with buyers looking for a good investment opportunity.
For residents and non-residents alike, the standard requirement to purchase an apartment in Dubai is a minimum 20 percent upfront cash payment (15 percent for UAE nationals). Mortgages are available for the rest of the amount with a repayment period of up to 25 years. You do not need a resident visa to buy an apartment in Dubai, or to get a mortgage, but you may be required to provide paperwork and some financial history to get a mortgage.
