Dubai Property Prices: Market Sales & Value Trends 2021
After the global COVID-19 pandemic, Dubai property prices are seeing a rebound. The first half of 2020 saw record highs as transaction levels reached the highest in a decade. For people who are looking to invest in Dubai property, this is a great time to buy since analysts estimate that this positive trend will continue for the rest of 2021, particularly with the commencement of Expo 2020.
In this guide, we will discuss the most sought-after areas to live in the emirate and take a look at some of the property prices in Dubai.
The Average Property Prices in Dubai
Although the average property value in Dubai has risen substantially this year, compared to living in some of the other major expat hubs in the world, Dubai costs much less. Let’s take a look at the average apartment price per square meter of different metropolitan cities vs Dubai, according to Numbeo:
- Dubai: AED 12,410.06\
- London: AED 60,108.24
- New York: AED 56,794.86
- Hong Kong: AED 119,954.43
Dubai has a well-developed property rental segment and expats can find all sorts of housing they want. The great thing about the emirate is that it offers affordable properties for all budget types, whether you are a local or an expat, and whether you want a villa or an apartment in Dubai.
Depending on where you live, the average residential rent may vary:
Dubai Property Price Chart
Let’s take a look at the average prices of apartments in some of the major districts of Dubai. According to the listing at Bayut, the property prices are as below:
| Area | Studio | 1-Bed Apartment | 2-Bed Apartment | 3-Bed Apartment |
|---|---|---|---|---|
| Dubailand | AED 322K | AED 451K | AED 620K | AED 1.27M |
| Business Bay | AED 418K-1.48M | AED 550K-2.8M | At least AED 850K | AED 1.3M to 19.8M |
| Dubai Production City | AED 274K | AED 512K | AED 761K | AED 832K |
| Jebel Ali | AED 360K | AED 690K | AED 900K+ | - |
| Arjan | AED 433K | AED 694K | AED 929K | AED 1.228M |
| Dubai South | AED 326K | AED 539K | AED 895K | AED 1.283M |
| Dubai Investment Park | AED 299K | AED 489K | AED 743K | AED 1.253M |
| Dubai Silicon Oasis | AED 304K | AED 472K | AED 710K | AED 1M |
| Jumeirah Village Triangle | AED 397K | AED 610K | AED 954K | AED 1.47M |
| Al Furjan | AED 411K | AED 679K | AED 964K | AED 1.339M |
| Mirdif | AED 561K | AED 908K | AED 1.419 | AED 2.001M |
| Dubai Sports City | AED 334K | AED 486K | AED 750M | AED 974M |
| Umm Suqeim | - | AED 1.238M | AED 2.013M | AED 3.463M |
The Best Dubai Property Prices, 2021
Like the rent rates, the price of a property is also determined by various factors like the type of residence (apartment sale in Dubai, 3 Bedrooms Apartments For Sale In Cavalli Tower villas for sale in Dubai, Townhouse for sale in UAE By Crypto, penthouse, etc.) and the area in which it is located.
Dubai real estate prices are showing a steady increase with property prices expected to rise over the next couple of years. Even with the arrival of Expo 2020, house prices in Dubai are expected to remain affordable. The economy has bounced back quickly from the pandemic in the emirate after a successful vaccine rollout and has resulted in a continued increase in sales, according to the Dubai Land Department.
Let us take a look at some of the major and most popular districts of the city-state and reveal the prices of their most sought-after properties.
Dubailand
Dubailand is a sprawling master development in the heart of Dubai. The sprawling district that spreads over 3 million sq.ft is divided into several communities, including the Dubailand Oasis, Tiger Woods, Living Legends, and Al Habtoor Polo Resort & Club. It also comprises multi-billion dollar projects like DAMAC Hills.
The district offers a mix of apartments, townhouses, and villas and has over 50 visitor and tourist attractions like hotels, polo clubs, golf clubs, themed adventures parks, eco-tourism projects, and more. The area is trendy among expats because it is quite affordable and offers a number of Freehold properties for sale.
Dubailand offers apartments ranging from studios to 3 bedrooms villas for sale in Dubai as well as apartments and townhouses.
Dubailand Property Price Trends
Here are the average prices of apartments in Dubailand:
- Studio: AED 322k
- 1-bed apartment: AED 451K
- 2-bed apartment: AED 620K
- 3-bed apartment: AED 1.27M
- 4-bed apartment: AED 1.57M
DAMAC lagoons
Nestled near DAMAC Hills but hidden away from the traffic of the main city lies DAMAC Lagoons — a Mediterranean style utopia surrounded by pristine lagoons and white sand beaches with a tropical island vibe. The project is home to villas and townhouses only and offers unlimited amenities like mosques, schools, hospitals, a community centre, health and wellness clubs and more. The community offers opportunities for all sorts of outdoor activities, including water activities, such as kayaking, paddle boats, paddle surfing, swimming, sailing, fishing, and more.
DAMAC Hills
Starting Price: AED 1.6M (Luxury Park Villa)
DAMAC Hills is a golf community located in the heart of Dubailand. DAMAC Hills is home to a variety of mixed-use properties, including residential real estate properties like villas, apartments, and townhouses, as well as commercial and retail outlets like sports, saps, leisure features, wellness options, and hospitality properties.
DAMAC Hills is an exclusive community away from the bustling city life. The community consists of three segments: the Park that features a lush 4 million sq ft park; the Drive inspired by the Champs Elysees in Paris and the Rodeo Drive in Beverly Hills, and the Trump International Golf Course. One of the major benefits it offers expats is that it offers high-end freehold properties.
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DAMAC Hills 2
Starting Price: AED 456K (Villas)
What sets DAMAC Hills 2 (previously Akoya Oxygen) apart from any other real estate project is that it is an eco-friendly community that offers a sustainable, energy-efficient and green lifestyle to people, away from the noise and crowd of the city. The community has a huge collection of luxury villas, apartments, and townhouses in various sizes and configurations. The community also offers limitless opportunities for entertainment with sprawling golf courses and clubhouses, as well as facilities like hospitals, organic markets, and wellness centres that offer yoga sessions, diet control plans and herbal treatments.
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Fiora
Starting Price: AED 363K
If you are looking for premium Properties for sale in Damac Hills 2, Fiora is one of the best options that you can get at quite an affordable price. The property offers chic studio, 1-bed and 2-bed apartments that overlook the gorgeous green community of DAMAC Hills 2. Every suite at Fiora is consciously designed with sustainability in mind and the apartments open to beautiful scenic views of nature as far as you can see. With its stunning water attractions, leisure opportunities, and sports facilities, Fiora offers the perfect blend between indulgence, relaxation, and excitement.
Amora
Starting Price: AED 447K
Amora offers a collection of elegant apartments that are beautifully designed and finished. The apartments consist of one or two bedrooms perfect for couples or small families who want their life to be simple, comfortable, and enjoyable. The property is surrounded by lush green open spaces, water attractions, and sports amenities — an excellent setting for people who are focused on health and wellbeing. The community is also near to an equestrian town, farmer’s market, Zen Garden, a waterside café, butterfly garden, petting farm, and paintball grounds, so there is a lot of fun to be had for the entire family.
Business Bay
Located just south of Downtown Dubai is Business Bay, which as its name indicates, is the heart of business and commerce in the city. The district is extremely well connected and offers an ideal lifestyle for singles and young couples. Since it is in the middle of the city, the area has a fast-paced and exciting vibe which attracts a large number of young working-class people from other districts as well, including Downtown Dubai, DIFC, and Sheikh Zayed Road. It is a multicultural hub with a good mix of expatriates among the locals. It is also home to some of the biggest hotel chains in the world including the Marriott, Oberoi and Taj and is very close to Burj Khalifa, Dubai Aquarium, and the Dubai Fountains.
Business Bay Property Price Trend
Here are the average prices of apartments in Business Bay, according to Bayut.
- Studio apartment: AED 418K to AED 1.48M
- 1-bedroom flat: AED 550K and AED 2.8M
- 2-bedroom flat: At least AED 850K
- 3-bedroom flat: AED 1.3M to AED 19.8 M
- 4-bedroom flat: AED 2.3 M to 32.4 M
- 5-bedroom flat: AED 4.4 M to AED 40M
Avanti
Starting Price: AED 663K
Avanti enjoys a strategic location in Business Bay which allows it to capitalise on the vibrant and thrilling downtown life. The real estate is a modern and impressive-looking 15-storey tower that offers world-class amenities and facilities that take the experience of living there beyond the ordinary. The apartment suites are decorated in classy neutral tones, elegant furniture and fitting, fully equipped kitchens, and large balconies. The property is located near the Burj area, which means residents can enjoy proximity to the biggest attractions in the city as well as have quick access to major thoroughfares and highways. This is why a lot of people consider it for buy-to-let investment opportunities.
Merano Tower
Starting Price: 528K
If you are looking for a property in the middle of a business hub that still offers a spectacular view, Merano Towers can be the perfect choice for you. The elegant tower has a sophisticated architecture that provides a refined living. The property is located just across the Dubai Canal and is close to the major visitor attractions of the Burj area. A few things that expats would appreciate are that Dubai’s two metro stations and the two major highways are easily accessible from Merano Towers. The suites in the tower are designed with attention to detail and offer a mix of studio, one-bed, two-bed, and three-bed apartments.
Zada Tower
Starting Price: 699,999
Set in one of the most exciting and quick-paced communities of Dubai, Zada Tower is a majestic looking block of 26-storeys, which offers a collection of 1-bedroom apartments for sale. The apartment offers premium residences for expats and has its own open-air cinema for those perfect breezy evenings when being outdoors is the best choice. The tower also offers vibrant landscaped gardens and a wellness centre and its residents have access to a wealth of amenities, including fine dining restaurants, upscale retail stores, and The Dubai Mall right next door.
Majestine Tower
Starting Price: AED 702K
Located in the highly sought-after Burj area, the majestic Majestine Towers offer you unparalleled luxury for a competitive price. The upscale towers give an extravagant vibe as soon as you enter the lobby, which is done in pale neutrals with gold, royal blue, and black marble accents. The tower offers you an urban lifestyle with all the creature comforts that a ready-to-live apartment provides. The tower offers a mix of studio, one-bed, two-bed, and three-bed apartments that you can move in at a moment’s notice which makes it very attractive for young singles, couples, and even professionals with small families.
DAMAC Prive
Starting Price: AED 728K
With a breathtaking panoramic view of the Dubai Canal, DAMAC Prive has the city’s major attractions at its doorstep. One of the most sought-after places for expat singles and couples, the twin hotel serviced towers offer spacious and high-end studios as well as 1-bed and 2-bed apartments. The homes are all immaculately designed with beauty in each and every detail and the property offers a wealth of amenities like a 24-hour restaurant, a temperature-controlled swimming pool, a state-of-the-art health club and spa and sprawling manicured landscapes.
Reva Residences
Starting Price: AED 787K
Standing tall and graceful beside the Dubai Canal waterway, Reva Residences enjoys a strategic position that offers its residents the full benefits of lush parks, covered walkways, and lifestyle offerings. The apartment complex allows residents to capitalise on the versatile range of dining and retail options that the Burj area offers. The highest floors of the tower are known as Reva Heights and house a collection of premium apartments that offer breathtaking high-rise views as well as fine upscale interiors. This is the ideal place if you want to enjoy a sophisticated lifestyle in a bustling neighbourhood. It doesn’t hurt that the tower also offers best-in-class amenities within its premises.
Vera Residences
Starting Price: AED 811K
Vera Residences is a dynamic and vibrant tower community that exudes a modern and high-class aura. The building has been designed to impress with chic interiors done in pale neutrals as well as wide open balconies that overlook the brilliance of the Burj neighbourhood. The residences are a mix of studio, 1-bed, and 2-bed apartments. Residents living at Vera Residences have the opportunity to enjoy serene strolls through the covered walkways and beautiful parks along the Dubai Canal. In addition, The Dubai Mall, Burj Khalifa and the Dancing Fountains are just a walk away.
DAMAC Breeze
Starting Price: Available on Request
The twin towers of DAMAC Breeze are 18 storeys high and have one of the most distinctive façades that are inspired by the geometrical lines of Moroccan architecture. The towers consist of studios along with 1-bed, 2-bed, and 3-bed apartments and are decorated in tasteful, warm neutral tones. The suites have a separate living and dining area and the kitchen is fully equipped, complemented by a large variety of high-end amenities. Since it has a central location in Business Bay, it is in easy access to Sheikh Zayed Road and Al Khail Road. The Dubai Marina, the beach, the dancing fountain, and Burj Khalifa are just a stone’s throw away.
DAMAC Towers by Paramount Hotels & Resorts Dubai
Starting Price: AED 905,714
DAMAC Towers by Paramount Hotels & Resorts is a uniquely designed four-tower development with a lot of ambitions and scope. The building is inspired by Hollywood and consists of 1,200 luxury apartments that are housed in three towers and offer fine living options to residents. The fourth tower is a hotel that is administered by the world-famous Paramount Hotels & Resorts and has a wealth of upscale amenities and facilities, including Paramount boutiques, luxury spas, wellness centres, screening rooms, kids studio, meeting and event facilities, restaurants and bars and a lobby that is done with silver, gold, and earthy neutral tones that immediately evoke a feeling of extravagance.
XL Tower
Starting Price: AED 1,551,900
A tall circular tower that serves as a beacon of elegance, the XL Tower is designed for business and office work. The tower contains high-speed elevators and has large welcoming lobbies on every floor. The building offers inspirational and flexible workspaces and office stations that are ideal for professionals in Business Bay. Some other perks that XL Tower offers are 24/7 security, plentiful parking space across three podiums and three basement levels, a shaded outdoor swimming pool, an advanced gymnasium, a state-of-the-art health club and aerobic rooms, steam room and sauna, and a cafeteria — a truly fantastic place to work in the middle of a vibrant and bustling business hub.
DAMAC Voleo
Starting Price: Available on Request
A modern, high-quality, and upscale lifestyle comes to the fore at the DAMAC Voleo, a 26-storey high-end apartment complex in Business Bay. The building offers fully furnished apartments decorated in sandy tones with turquoise accents, reminiscent of the beach, with fully-fitted kitchens. The lobby is spacious and modern and is tastefully decorated in pale greys and crèmes with accents of beautiful crimson. You can take your pick from a beautiful collection of gorgeously-decked studios, 1-bed, 2-bed, and 3-bed apartments that offer world-class amenities and an awe-inspiring view of the Dubai Creek.
Dubai Production City
Located adjacent to the arterial highway of Sheikh Zayed Road, Dubai Production City offers a mix of residential and commercial properties and is the favoured place to live in for professionals from all over the world. Most residential facilities offer studio, 1-bed, 2-bed, and 3-bed apartments. The area offers a range of luxurious apartments with different configurations and is in easy access to internationally-accredited schools, enormous supermarkets, and global retail centres. The district is also home to the famous City Centre Me’aisem.
Dubai Production City Property Price Trend
Here are the average prices of apartments in Dubai Production City, according to Bayut.
- Studio apartment: AED 274K
- 1-bedroom flat: AED 512K
- 2-bedroom flat: AED 761K
- 3-bedroom flat: AED 832K
Lakeside
Starting Price: AED 789K
The impressive-looking Lakeside is a collection of 22-storey residential buildings that offers beautiful and well-designed studio and 1-bed apartments. The suites are practical, yet aesthetically pleasing, and are created to maximise the living space, as well as provide an unimpeded view of the lake. The building complex shares a common podium, which has a collection of cafes, grocery stores, and salons. It also has a number of shared amenities like a state-of-the-art swimming pool, gym, tennis court, and a barbecue area that allows a healthy lifestyle to residents.
The Crescent
Starting Price: AED 536K
The Crescent is a group of three 15-storey towers with a modern and contemporary façade and spectacular views of the lake. The towers are made in a distinctive semi-circular style surrounding a central portico offering views of the gorgeous landscape. The towers feature a blend of well-constructed studios, as well as 1-bed and 2-bed apartments, all decked with open balconies. The Crescent is very close to all the main attractions of the city because of its proximity to the two major highways of Dubai, but is far enough that residents can enjoy the peace and quiet of a restful neighbourhood. The tower offers amenities like cafes, salons, and supermarkets and is just a 2-minute walk from the City Centre Me’aisem.
Jebel Ali
The district of Jebel Ali is steadily gaining more prominence in Dubai, inviting people to come and live here. The area is heavily industrialised but offers trading, commercial, and residential segments as well. The district is home to the biggest man-made harbour in the world, servicing a market of over 2 billion people. In addition, Jebel Ali Free Zone is responsible for almost a quarter (23%) of Dubai’s GDP and is home to over 7,000 companies in logistics, manufacturing, trade, and a number of other sectors.
Jebel Ali is also home to the beautiful Palm Jebel Ali, one of the three artificial archipelagos built in the shape of palm trees. The district also has its own resort and recreation centre, and metro station, and is located near the world-famous Dubai Parks & Resorts.
Jebel Ali Property Price Trends
- Studio apartment: AED 360K
- 1-bedroom flat: AED 690K
- 2-bedroom flat: AED 900K+
- Residential plots: AED 850K to AED 4.1M
DAMAC Suburbia
Starting Price: AED 658K
DAMAC Suburbia is a stunning pair of Moroccan-inspired towers that offers fully-furnished luxurious apartments in Jebel Ali. The complex is perfect for professionals who are working in and around the Jebel Ali area, Dubai World Central, the Expo 2020 site, and even those in Abu Dhabi. The apartments are all bright and airy and offer a whole host of amenities like a fully-equipped gym, spa, a swimming pool with a sunbathing deck, and lush landscaped gardens. Residents can access a variety of retail stores just by taking the lift down.
Arjan
A newly built district in Dubai, Arjan is located on the outskirts of Dubai, bordering Sheikh Zayed Road on the south and Al Barsha South on the north. The community offers a range of mid-rise to high-rise apartment buildings that overlook a serene neighbourhood. Since the community is quite new, there isn’t a lot of noise and traffic on the road and a significantly low number of residents. Hence, this may be a great place for people who need some peace and quiet in their life without the sky-high rents and prices of more established areas. The community offers freehold properties and is just 15 km away from the beaches of Dubai. It also holds the distinction of being home to Dubai Miracle Garden and Dubai Butterfly Garden.
Arjan Property Price Trends
Here are the average prices of apartments in Dubai Production City, according to Bayut.
- Studio apartment: AED 433K
- 1-bedroom flat: AED 694K
- 2-bedroom flat: AED 929K+
- 3-bedroom flat: AED 1.228M
Lincoln Park
Starting Price: AED 790K
If you are looking for urban living in high-end apartments, then Lincoln Park may be the best choice for you. The complex consists of five ornately-styled buildings that are inspired by the Chicago School of Architecture, with ornamental front entrances, flat roofs, and domed windows. The building hosts apartments with a 1-bed, 2-bed, and 3-bed configuration with open roof terraces and fully-fitted kitchens. The apartment complex provides an ideal work-life balance for people through its vast array of facilities and is just a 2-minute drive from Dubai Mall, Dubai Miracle Garden, and Dubai Butterfly Garden.
Dubai South
Previously known as Dubai World Central, Dubai South is a self-sufficient district, home to what will soon become the world’s largest airport, Al Maktoum International Airport, with an expected capacity of 200 million passengers and 16 million tonnes of cargo. The district is also home to the Dubai Exhibition Centre which is hosting the Expo 2020 event. The community is a free zone area and offers an urban lifestyle with state-of-the-art amenities. The area offers convenience for both commercial and residential districts and is very pet friendly.
Dubai South Property Price Trends
Here are the average prices of apartments in Dubai South, according to Bayut.
- Studio apartment: AED 326K
- 1-bedroom flat: AED 539K
- 2-bedroom flat: AED 895K
- 3-bedroom flat: AED 1.283M
- 4-bedroom flat: AED 2.866M
Celestia
Starting Price: AED 355K
One of the most coveted apartment complexes in the region, particularly during the Expo 2020 event, Celestia offers a splendid collection of studio, 1-bed, and 2-bed apartments. The suites are decorated in warm neutral tones, elegant black marble and bright whites. All of them are fully-furnished and have a fully-fitted kitchen, just waiting to welcome new residents home. The complex can make the ideal home or investment opportunity for both locals and expats.
Tenora
Starting Price: AED 457K
Tenora is a part of Dubai’s master development project and offers a blend of studios, 1-bed, and 2-bed apartments, all decked in luxurious furnishing with kitchens that have pre-fitted appliances just waiting to be used. The apartment suites are all practical and nicely decorated in warm neutral tones, imparting a welcoming vibe to the apartments. Tenora is located very close to the Expo 2020 site and offers easy access from Dubai Metro, Al Maktoum International Airport, and the road.
Al Nahda
If you are looking for a place to stay with your family, the community of Al Nahda is one of those rare gems that offer spacious living space at an affordable price. Located in the Deira region, Al Nahda enjoys a strategic border with Sharjah. The community was created from the Al Qusais industrial area and offers a range of residential buildings and comfortable apartments with studios to 4-bed apartments, away from the hustle and bustle of the main city. The area is also known for its world-class health facility.
Al Nahda Property Price Trends
- Studio apartment: AED 170K to AED 210K
- 1-bedroom flat: AED 260K
Dubai Investment Park
Dubai Investment Park is a mixed-purpose freehold development of Dubai offering a range of commercial and residential properties. The development has three stages: the industrial complex, the commercial district for retail and office space, and seven residential communities that offer sustainable living. The area is located near to the Jebel Ali Free Zone and its international airport and enjoys a strategic location in the city. A large part of the area is eco-friendly and dedicated to waterways and lush landscapes. The area also offers world-class amenities to residents and easy access to downtown via the Sheikh Zayed Road.
Dubai Investment Park Property Price Trend
Here are the average prices of apartments in Dubai Investment Park :
- Studio apartment: AED 299K
- 1-bedroom flat: AED 489K
- 2-bedroom flat: AED 743K
- 3-bedroom flat: AED 1.253M
Dubai Silicon Oasis
Dubai Silicon Oasis is a mixed-use suburban community buzzing with innovation and technology, comprising residential towers and gated villa communities. The “Silicon Valley of Dubai,” DSO is a centrally-located free trade zone that integrates living and working space seamlessly. It has been hailed as one of the most popular areas when it comes to affordable apartment rental prices and is perfect for people who want a community lifestyle. The area is close to the most famous attractions of Dubai and offers golden investment opportunities for businessmen.
Dubai Silicon Oasis Property Price Trends
- Studio apartment: AED 304K
- 1-bedroom flat: AED 472K
- 2-bedroom flat: AED 710K
- 3-bedroom flat: AED 1M
Jumeirah Village Triangle
Jumeirah Village Triangle is a densely populated area located on the north side of the Dubai Marina. The community was once a ghost town but is now hailed as one of the most ambitious projects in the emirate. The freehold, gated community is placed between the two major arterial highways of Dubai allowing easy access to commute. The area offers a serene village-like infrastructure with trees planted along the street to promote a healthy lifestyle, along with premium amenities and a community centre that offers retail options, cafes, restaurants, entertainment zones, and supermarkets. The residential section of JVT is segmented into nine districts, which offer over 5,000 housing units, including apartments, townhouses, and villas. The area is one of the best places to live in Dubai for families and has nine community parks, five tennis courts, basketball courts, and a range of other outdoor activity opportunities.
Jumeirah Village Triangle Property Price Trends
- Studio apartment: AED 397K
- 1-bedroom flat: AED 610K
- 2-bedroom flat: AED 954K
- 3-bedroom flat: AED 1.407M
Deira
Deira is the oldest commercial area in Dubai and enjoys an advantageous position by sharing its borders with Sharjah, Dubai Creek, and the Arabian Gulf. The district is one of the most popular places to work and live in and is a centre for tourists who come to visit its world-famous Gold Souk. Deira is one of the top five places in Dubai for renting apartments because of its budget-friendly accommodation options. The community is also home to the oldest mall, Al Ghurair Centre, and the Al Ahmadiya School and Heritage House. It is also a very active trade hub for textiles, spices, and more to the Middle East, Asian and African countries.
Deira Property Price Trend
- 1-bedroom flat: AED 750K
2-bedroom flat: AED 1.1M
- Residential plot: AED 2M
Al Warqaa
Al Warqaa is an established residential community on the outskirts of the city. The community features a blend of newly-constructed housing units, including apartments and villas. It is also a favourite place to live in for families since it offers a large number of schools, restaurants, and many other amenities, including the Warqa Mall. It is also home to the Dubai Safari Park, as well as three sprawling community parks. Sheik Zayed Road winds around the district and gives Al Warqaa easy access to International City, Dubai Creek, Al Warsan, Dubai Festival City, Ras Al Khor Industrial Area, and Mirdif.
Al Warqaa Property Price Trends
Currently, Al Warqaa does not have any apartments for purchase; however, if you are interested in renting out the flats, here are the figures:
- Studio: AED 24K
- 1-bedroom flat: AED 32K
- 2-bedroom flat: AED 46K
- Residential plot: AED 63K
Al Furjan
Al Furjan is a fun and lively community and one of the most popular residential areas in the emirate. The neighbourhood is home to over 4,000 villas, townhouses, apartments, hotels, and commercial spaces. The area is located between Sheikh Zayed Road and Sheikh Mohammed Bin Zayed Road and shares a network of routes and world-class amenities. Due to its interconnected pathways, residents of Al Furjan can easily reach Discovery Gardens, Jebel Ali Village, Green Community, and Garden View Villas. The district has its very own metro station called the Al Furjan Metro Station and offers upscale amenities like gyms, parks, and swimming pools.
Al Furjan Property Price Trends
- Studio: AED 411K
- 1-bedroom flat: AED 679K
- 2-bedroom flat: AED 964K
- 3-bedroom flat: AED 1.339M
- 4-bedroom flat: AED 3.393M
Mirdif
Mirdif is a family-oriented suburban living community in Dubai that offers very affordable residential units with all the necessary amenities of life. The community has seen significant development in the past decade and, although far from the futuristic world of modern Dubai, is one of the most beloved communities among residents. The community is famous for its collection of eclectic villas and is home to the huge Mushrif Park. It also offers freehold zones and is situated close to the Dubai International Airport.
Mirdif Property Price Trends
- Studio: AED 561K
- 1-bedroom flat: AED 908K
- 2-bedroom flat: AED 1.419M
- 3-bedroom flat: AED 2.001M
Dubai Sports City
Dubai Sports City is not just a favourite of health and fitness fanatics, it also offers unmatched opportunities when it comes to residential and lifestyle options at a cost-competitive rate. The district offers freehold properties and is home to the International Cricket Stadium and the Els Club and is one of the most coveted places among investors. It offers a blend of villa and apartments complexes and tenants can choose between studio, 1-bed, 2-bed, and 3-bed apartments. The community offers plenty of facilities at walking distance and is just a 15-minute drive away from the Mall of Emirates.
Dubai Sport City Property Price Trends
- Studio: AED 334K
- 1-bedroom flat: AED 486K
- 2-bedroom flat: AED 750 M
- 3-bedroom flat: AED 974M
Umm Suqeim
Bisected by the Jumeirah Beach Road, Umm Suqeim is one of the most happening neighbourhoods of Dubai. The area is conveniently located between old and new Dubai and reaps the benefits of both these places. It is a non-freehold community of villas with eclectic architecture, thanks to it being developed by various different builders and architects. The community is home to the famous Kite Beach and is very close to Burj Al Arab.
Umm Suqeim Property Price Trends
- 1-bedroom flat: AED 1.238M
- 2-bedroom flat: AED 2.013M
- 3-bedroom flat: AED 3.463M
- 4-bedroom flat: AED 5.024M
How to Evaluate Your Property Value in Dubai
If you want to find out about your home’s market value, there is a simple formula for that. Simply divide the average sales prices by the average square foot to determine the average value of the properties per square foot. You can then multiply this amount by the number of your home’s square feet to determine your estimated home market value.
Alternatively, you can also find out the value of your home by:
- Using online valuation tools: Just Goggling something like “how much is my home worth?” will display dozens of home value estimators. These tools are excellent resources that can help you determine your home value by using information from public records like deeds of ownership, property transfer, and tax assessment.
- You can also get a comparative market analysis: Find a real estate agent to get their evaluation of your home and market, in order to get an estimated value of your home. Although it may not be as detailed as a professional evaluation, it can still help you get a value for your listing purposes.
- Hire the services of an experienced professional property appraiser: Property owners can hire a professional appraiser to figure out the value of their home. The appraiser will evaluate the characteristic of your house, the market where the property is located, and the listing, sales, price, depreciation, and other factors of similar properties in the market to arrive at an accurate home value.
- Evaluating comparable properties: The recent sales values of comparable properties can also give a good idea of the value of your home. These properties are similar in size, upgrades, condition and location and can be found in multiple listing services. You can then adjust the price of your home based on the differences between your property and the comp. For example, if your property has an extra bedroom, you will need to add more cost to your home, depending on the market conditions.
Opinion of Experts About the Future of Real Estate in Dubai
According to the Knight Frank Prime Global Cities Index, the second quarter of 2020 saw property prices in Dubai fall by 2.3% during peak COVID-19 times. However, it is proof of the resilience of the UAE market that they were already up by 0.9% by the third quarter of 2020. Moreover, listings on Bayut and Dubizzle show that property prices show a decline of just 4% in the first half of 2020, despite the fact that the Expo 2020 was delayed.
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In 2021, once the vaccines were rolled out, the property market in Dubai started to recover at a record pace. Now that the Expo 2020 is finally here, the property market is booming. If you can afford to buy a property at this time, you can expect the prices to rise even more in the coming months, which will give you highly lucrative returns on investment. For private investors who are looking for long-term investments and who have a stable and secure job, flipping properties at this point can also be quite beneficial.
7 Reasons Why Now is the Best Time to Buy Real Estate in Dubai
There are a lot of expats who rent apartments rather than buying residential units in Dubai. However, if you are staying in Dubai for a long time, buying a villa or apartment in the city can actually save you money in the long run. Here are some of the reasons why you should invest in Dubai:
1. Buyer’s Market
Currently, Dubai is a buyer’s market. The value of property has declined since 2014, including a 10% decrease in apartment values and a 9% reduction in villa prices in 2018. With construction on the rise and more property coming into the market, it is expected that the Dubai real estate market will remain affordable for years to come.
2. COVID-19 Recovery
With the successful vaccine rollout, Dubai is poised for recovery. Although the property sector was impacted by the pandemic, the UAE took swift measures against the virus. Dubai is now in the perfect position to receive a boost from visitors who have come for Expo 2020 and recapture lost income from tourism.
3. Higher ROI
The average return on investment in Dubai’s real estate is around 7% to 10%, compared to property in London that has a yield of 3.7% to 4.5% and Hong Kong with a yield of just 2%.
4. All-Time Low Financing Rate
Financing rates in Dubai are at a record-low 3.99% for the first years for buyers who are looking to invest in Dubai property. In fact, at DAMAC, you can find mortgage rates for as low as 1.99%.
5. Visa Reforms
The new UAE visa policies are expected to result in increased demand for homes in Dubai, improving the value of real estate. In 2020, the UAE government approved a series of economic stimulants and encouraged long-term investment, including 55+ year–old expats to get a 5-year retirement visa if they have property worth AED 2 million or have AED 1 million in savings or an active income of over AED 20,000 per month. This allows talents like engineers and doctors to obtain long-term visas.
6. Expo 2020
Expo 2020 has generated a huge demand for housing and has increased buyers’ confidence, resulting in price recovery. The prices of property have improved in the months leading to the Expo and are expected to continue to stabilise during the duration of the event.
7. Unmatchable Lifestyle
Dubai has the most advanced infrastructure, along with global cuisine, thrilling entertainment options, unbelievable architecture, opportunities for high-end shopping, and a stable currency. All of these factors make this city a great place to live. Moreover, people who live on a budget can also enjoy living in this cosmopolitan city since Dubai offers housing and amenities at affordable prices as well.
8. Well-regulated Real Estate
Dubai’s construction and real estate sectors are very well-regulated and ensure safe and secure property investments in the city for both buyers and developers. These include rental caps, escrow regulations, and a rental dispute settlement centre, all of which can increase buyer and seller confidence.
Tips for Choosing the Right Property for Investment in Dubai
Whether you are a local or an expat, before you jump the gun and buy a property in Dubai, there are some things that you need to consider:
Location
You may think you may have found the perfect property; however, location is just as important. It is essential that you buy real estate in a place that offers you high ROI. In addition, you should check out the neighbourhood to find out whether it has all the amenities you need and if you will be comfortable and happy there.
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Size
If you are a single person, a studio or a 1-bedroom apartment may be enough for you. However, if you have a family, you will need to look into a bigger space, like 2- or 3-bedroom apartments or even a villa. At DAMAC, you can find affordable villas in some of the best communities in the city.
Timing
The best time to buy is when the rates are low. Currently, Dubai is offering extremely generous interest rates to buyers to help them regain confidence after the pandemic. In addition, developers are also coming in with a plethora of various types of housing units which makes the price even more competitive.
Finances
Increased regulation in the real estate market means that you will need to organize your finances ahead of time. Calculate your budget to find out how much you can afford so that you can move quickly when you find a property you like.
Authorised Agent
If you are new to the real estate market, it is important to hire a RERA-registered real estate broker to get advice from. If you are buying off-plan from a developer, make sure you have all the pertinent details before you buy the project. Having a lawyer can also make this process easier.
Frequently Asked Questions
Is the real estate property value in Dubai falling?
Dubai’s residential property is steadily rising in value and analysts estimate that prices will continue to rise reasonably in the next couple of years. However, properties will still remain affordable. The economy has recovered quickly from the global pandemic and the pricing of houses is expected to rise 3.5% this year and about 2.5% the next year as compared to the 1.1% and 2.8% respectively that was expected during the second quarter of 2021. Trade liberalization, immigration policy reforms and the Dubai Expo all set the stage to attract foreign direct investment and give the real estate sector a boost.
Is it a good idea for an expat to buy property in Dubai?
Yes, it is an excellent idea to invest in Dubai. Even though Dubai real estate is on the rise, the value of its property is still low compared to some of the other major cosmopolitan cities of the world. This is largely because there is a huge supply of homes for people to live in. In addition, the city also offers a better rental yield (typically between 5% and 9%) than other mature real estate markets. All of this makes Dubai an affordable place to live in and a lucrative place to invest in.
What is the best time to buy property in Dubai?
The best thing about Dubai is that it is one of the very few real estate markets in the world that offers profitable deals to buyers all year around. Even though Expo 2020 and the vaccine rollout has resulted in a bullish trend in the real estate market and increased the value of properties, developers are being reasonable and still selling houses at an affordable price. Compared to London, New York, Hong Kong, etc., the property prices in Dubai remain relatively low, making it an excellent buyer market.
