Top 10 Tips for Best Property to Buy in Dubai 2021
Dubai is an architectural wonder, brimming with sky-high apartment complexes, fantastical manmade archipelagos, artificial cerulean lakes, sustainable green spaces, and a lot more!
Dubai: The Best City to Live In
There is no place on earth like Dubai. Dubai is a multicultural, cosmopolitan, and tax-free haven. Even the most thrill-seeking person will never find a dull day in this buzzing city.
One of the first things that people notice when they visit Dubai is that it is a city of leisure, offering all sorts of entertainment under the sun, be it cruising, skydiving, desert safari, indoor skiing, or any other sports. You have ample opportunity to go shopping at the biggest mall in the world, eat local and global cuisines, or visit cinemas, gardens, aquariums, theaters, or whatever strikes your fancy.
Dubai’s economy continues to grow, and its currency remains stable as the AED value is pegged to the US dollar and has a fixed exchange rate. Perhaps one of the best perks of living in Dubai is that you have to pay zero taxes, which allow you and your family to enjoy a better quality of life. Aside from skyscrapers, the latest models of sports cars, and luxury, Dubai also provides affordability without compromising on quality. People on a budget can invest in affordable real estate properties, indulge in scrumptious food from both local and global eateries, and even buy designer clothes from budget-friendly internationally-renowned brands.
In fact, Dubai is also a great place for families since it has several internationally recognised schools and universities that follow the American or British curriculum. The healthcare system is top-rated, reliable, and reasonable, and the transport is always accessible, clean, and fast.
Despite being a city of luxury, Dubai has one of the lowest crime rates in the world, thanks to its stellar law enforcement, and it is perfectly safe for people to wander about at all times of the day and night.
So, why wouldn’t anyone want to live in this veritable Utopia?
Top 10 Tips: The Best Way to Buy Property in Dubai
Excited to buy a property in Dubai? Here are a few things you need to consider first:
1. Purpose of the Investment
Anyone buying a property in Dubai needs to determine whether it is for residential or investment purposes. Both of these purchases require different considerations, and depending on the purpose, you need to take various factors into account, like the size, number of bedrooms, location, and amenities in your vicinity.
2. Setting a Budget
Make sure you understand how much cash you have available to purchase a property. As an expat, you will need to pay a down payment of at least 20% to buy a property. This means you need to set a budget to find out what kind of properties you can afford and what you cannot. You should also factor in a few different fees into the budget, including the agent’s fees, transfer fees, mortgage insurance fees, etc. These should not be more than 6% or 7% of your purchase value. Calculate how much you can afford and then find a property that meets your budget. At DAMAC, you can find wonderful properties in some of the best communities in Dubai.
3. Property Features
Once you have a budget in mind, you can start looking for all the properties that you can afford, which also offer all the amenities, creature comforts, and features you need. It could be something as simple as a swimming pool or a consideration that the location is close to your workplace or your children’s school. Prioritise the features you absolutely need and be prepared to compromise on non-essential stuff. Take a look at our best locations to buy property in Dubai below this section.
4. Buying Time
What is the best time to buy a property in Dubai? Typically, a buyer’s market is one where the prices are slightly down, and people are willing to sell. However, there are other factors to consider as well, including the time you absolutely need to have a home of your own, if you want to live for long in the city, or if you do not want the rent to chip away at your earnings.
5. Understanding the Buying property in Dubai Process
It is important that you understand the entire property purchase process from start to finish. Consider questions like how to make an offer, the bargaining process, the documents and paperwork required, the eligibility criteria, the NOC, bringing into effect the property transfer, and the handover. Buying property in Dubai is a huge investment, and it is best to perform due diligence so that you are not caught off-guard by any surprises later on, click here to learn more about buying process.
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6. Check the Registration
Make sure you only deal with approved and registered brokers. Your real estate agent needs to be registered with the Dubai Land Department or the municipality. You can request proof of registration by asking the broker to show you their unique registration card so that you can contact the relevant authorities in case you need to make inquiries.
7. Request Project Certificates
If you want to buy a project that is undergoing construction, you can ask the developer or the salesperson to show you the project certificate issued by the DLD as well as its escrow account. The DLD has an app, Dubai-Rest, which shows you a list of all projects that are registered under it. To take a look at some of the best-registered properties in Dubai, go to https://www.damacproperties.com/en/projects/.
8. Fine Print
Before you hand over your hard-earned cash, it is important that you ask for a draft of the contract and read it properly. Make sure everything in the contract is as it should be. Look at all the essential information like ensuring the floor plan matches the model, the number and size of the bedrooms, the payment plans, as well as the handover date before you sign the agreement.
9. Track Your Progress
If you are buying a property in Dubai that is under construction, make sure you keep updated on its progress and contact the developer every two or three months. You can also ask for a photograph of the project under construction or visit the site yourself. Some developers also update the progress of the construction in the Dubai-Rest app, so download this app and keep checking it frequently.
10. Seek Professional Advice
If this is your first time buying a property in Dubai, it is highly recommended that you hire a legal professional who understands all the rules of real estate investments in Dubai and can help you navigate the purchase process. You can enlist the services of DLD-registered brokerage, many of which have their own in-house lawyers and escrow facilities to ensure your process is safe and transparent.
Performing due diligence may seem like a lot of effort, but it is extremely important if you want a smooth property-purchase process. It is worth it, believe us.
Choosing the Best Area to Buy Property in Dubai
Dubai is a modern miracle of architecture with out-of-this-world artificial archipelagos, immense manmade lakes and green zone, and majestic high-rise buildings that touch the sky. Is it any wonder it is the most visited place in the UAE and one of the most favoured travel destinations in the world? All of these things also make Dubai one of the best places to invest Dubai or buy properties.
Here is a list of some of the best areas to buy property in Dubai.
One of the most popular residential areas, Dubai Marina, is located on the cerulean blue shoreline of Dubai. It is a lively community that offers a mix of high-rise apartments, luxury villas, and a plethora of high-end retail, five-star dining, and entertainment options, making it one of the best places to invest in Dubi Marina. The best thing about the community is that the residents and visitors have quick access to the public transport system, including the Dubai Tram, the metro, and water taxis.
Dubai Marina features stable asking prices with apartment ROI standing at a decent 6.4%, indicating that it offers lucrative investment opportunities for expats and locals. The average purchase prices in Dubai Marina are listed below, according to Bayut.com:
Best Property to Buy in Dubai Marina
DAMAC Heights offers a panoramic view of the sparkling blue waters of the Arabian Gulf and the stunning island of Palm Jumeirah. If you want to have a dream lifestyle, buying an apartment in DAMAC Heights is one of the best investments in Dubai that you can make. The apartments are airy, bright, spacious, and beautifully designed. The rooms have glass balconies and picture windows that allow light to flood in. It has a pale neutral palette with beautiful contrasting dark marble accents featured in the bathroom and kitchen. The apartments have built-in wardrobes, premium finishing, and fitted kitchens as well as full-service amenities, all of which offer a luxurious, enviable waterfront lifestyle.
Starting Price: Available upon request
The tall, curving, iconic building of Ocean Heights is one of the most recognisable structures in the city. The building is an 84-storey tower that offers a breathtaking view of the marina and has a gorgeous lobby to match that is decked out in blue waves and sand-gold tones — a perfect setting for the luxurious ocean-side apartments above. The building offers a mix of one-, two-, or three-bedroom apartments for sale, featuring spacious balconies, an open outdoor terrace, premium fittings and fixtures, a luxury spa, and a full range of fitness facilities. The building also offers 24/7 concierge services, making life at Ocean Heights supremely convenient, relaxing, and enjoyable.
Jumeirah Village Circle
Jumeirah Village Circle is a mixed-purpose development that offers the serenity of a suburban community, as well as all the amenities of the downtown city. The district is located adjacent to Sheikh Zayed Rd, which means it has easy access to all the major places in Dubai, including the Dubai Marina, Jebel Ali, Jumeirah Lake Towers, and the Mall of Emirates. It is a wonderful place for families to live in as it offers 30 landscaped parks and an assortment of internationally-recognised schools as well as hospitals, malls, a gym, and supermarkets.
Best Property to Buy in JVC
Starting Price: AED 757,000
With distinctive architecture and high-end interiors, Tower 108 offers investors an array of choices when it comes to residences, including studios, 1-bedroom, 2-bedroom, and 3-bedroom apartments. The suites are decorated thoughtfully with a focus on aesthetics as much as practicality, such as the lounge sofa-bed that can turn the living room into a bedroom for guests. The kitchen is fully furnished and equipped with all the necessary appliances. Tower 108’s podium level also hosts beautifully landscaped gardens while the public ground floor areas integrate with the wider community.
Starting Price: AED 949,000
If you want an alternative to high-rise apartments, Emirate Gardens is a community that offers an almost villa-like feel, thanks to its low-rise structure. The property consists of three buildings with studios, 1-bedroom and 2-bedroom apartments. The homes are all beautifully furnished in Arabic and Mediterranean accents, with open balconies and terraces overlooking the community. The low-rise design allows residents to connect at street level and make the most use of the pool, health club, and gym for a fitness-focused lifestyle. The community is also in proximity to Dubai Internet City, Dubai Media City, Ibn Battuta Shopping Mall, and the Jebel Ali Free Zone.
Starting Price: AED 1,107,000
With an outer facade that is reminiscent of the traditional quaint homes of Tuscany, Tuscan Residences is a three-apartment building that offers a mix of studio, 1-bedroom, and 2-bedroom apartments that look warm and inviting. The interior decoration takes hints from Mediterranean design and offers an open and spacious layout with premium finishing. The community offers amenities like a gymnasium, pool, sauna, barbecue area, and a resident’s lounge and offers lots of opportunities for mingling. The community is very close to Ibn Battuta Mall, Dubai Internet City, and Dubai Media City as well as can be easily reached via Sheikh Zayed Road.
Business Bay is a trendy residential and business centre which is located right next to the bustling Downtown Dubai. The district plays a major role when it comes to making Dubai a major business destination and consists of over 240 commercial and residential buildings. It is one of the best areas to invest in Dubai and offers world-class amenities, including transportation, schools, malls, hospitals, parks and more, coupled with a fast-paced lifestyle.
Best Property to Buy in Business Bay
Starting Price: AED 905,714
DAMAC Towers is a four-tower complex, three of which house 1,200 luxury apartments, while the fourth tower offers hotel suites by Paramount Hotels. The stunning project was inspired by Hollywood glamour and has an unimpeded view of the Burj area. The building is just moments away from the city’s most exciting retail and dining experiences. The high-end apartments have a modern theme with a studio-like feel and share a diverse range of amenities, including a huge swimming pool and a large sun deck.
Starting Price: AED 699,999
Zada Tower is a 30-storey residential building in Business Bay that hosts an assortment of 1-bedroom apartments, which have their very own open-air cinema, a wellness centre, and gorgeous landscaped garden — the perfect amenties for you to relax and unwind after a long day of hard work. Residents enjoy the thrilling party and night lifestyle at Zada Tower with access to premium-quality amenities, best-in-class stores, trendy indoor and al fresco dining outlets, and The Dubai Mall just a walk away.
Starting Price: AED 787,000
The tall Reva Residences are situated right next to the Dubai Canal and are close to walkways, lush parks, and amenities that offer residents a premium lifestyle. Residents can enjoy a range of exciting retail options as well as dine at 5-star restaurants and cafés in the Burj Area. The residences are also very close to Burj Khalifa and The Dubai Mall, if you are in the mood for some fun and shopping. The highest floor of the structure offers high-end apartments with a spectacular view of the Dubai skyline and gorgeous interior, as well as world-class amenities.
Known as Tecom previously, Barsha Heights is an urban community that features both residential and commercial buildings, as well as serviced apartments and hotels. The community offers a vibrant, yet affordable, lifestyle. The bustling community also houses several creative small businesses and startups that make it perfect for both residential and commercial use. The area has a central location, so it seamlessly integrates living and working spaces. The community borders Al Hessa Street in the north and has direct access to Sheikh Zayed Road and Al Khail Road. The district is also connected with JLT, and Meadows via the Jebel Ali Racecourse Road.
Best Property to Buy in Barsha Heights
Starting Price:AED 2,425,000
Smart Heights is a 26-storey commercial property that is surrounded by the business and media centre of Dubai. The building houses a blend of retail outlets and flexible office spaces and is equipped with a welcoming and beautifully-designed entrance and lobby. The building also offers world-class amenities, including a modern gym, a swimming pool, steam rooms, a spa area, and five high-speed elevators. The building is just a few minutes’ drive away from the Palm Jumeirah, The Dubai Mall, The Walk JBR, and Burj Al Arab.
Dubailand is a bustling community that is filled with excitement thanks to its world-class entertainment, leisure, and sports outlets. The district plays a major role in driving Dubai’s tourism industry and consists of many residential projects that suit the budgets, preferences, and tastes of all sorts of people. The community offers excellent investment opportunities for both apartments and villas, and the Dubai Expo is fueling even more interest in this area.
Best Property to Buy in Dubailand
DAMAC Hills 2 is a master community that offers a unique living experience and a fun-filled lifestyle for people of all ages. The community is marked by water attractions and sports outlets and consists of beautifully-designed apartments, townhouses, and villas that are in close range to many attractions, amenities, and conveniences. The community is completely self-sufficient with all amenities inside it — including a supermarket, food trucks, gyms, etc. — and offers a tranquil lifestyle away from the hustle and bustle of the city’s business centre.
Starting Price: AED 1,426,000
As the name implies, Privilege Villas give you an opportunity to live a life of luxury. The villas have premium finishes and stunning layouts and are equipped with all the creature comforts needed to live in style. The beauty is in the details, and the villas pay tribute to all the finer things in life, including green living, unique water attractions, sports amenities, and upscale leisure experiences.
Starting Price: AED 2,735,000
If you want to live in a community that offers luxury and serenity, The Legends may be the perfect place for you. The area offers residents 3 bedroom villas in Dubai untile 7-bedroom that overlook the lush green Trump International Golf Club Dubai. The villas offer privacy for families, as well as a lux lifestyle with their large living spaces and open outdoor areas. Residents can choose to buy villas with rooftop terraces that can be used as extra bedrooms or as a guest room for visitors.
Jumeirah Lake Towers
If you are budget-conscious but need a property that can offer you lucrative ROI, then Jumeirah Lake Towers is one of the best properties to buy in Dubai for foreigners. The community offers high-rise apartments that are located just across the more luxurious offerings of Dubai Marina. However, JLT’s amenities are quite similar, but with a lower price tag. Residents also have access to gyms, fitness centres, pools, as well as a range of local and global culinary delights. For shopping, JLT is just a stone’s throw away from the Dubai Marina Mall, the Mall of Emirates, and Ibn Battuta Mall
Best Property to Buy in JLT
Starting Price: AED 1,257,000
Lake View is a statuesque 4-storey residential tower located in Cluster B of JLT. The tower apartments are of various configurations, including studio, 1-bedroom, 2-bedroom, and 3-bedroom apartment. The building is located a short walk away from a metro station, and you can access a wide variety of restaurants, cafes, and eateries right at the podium level. The apartments also have a stunning view of JLT’s manmade lakes, as well as a view of the neighbourhood from the large windows and spacious balconies.
Frequently Asked Questions
Is buying a property in Dubai a good investment decision?
If you are interested in investing in real estate, there is quite possibly no other city that will give you as many options and opportunities as Dubai. The city offers futuristic and cosmopolitan projects and a stunning residential community that is perfect, not just for investment in Dubai but for living as well. With Expo underway, the value of many of Dubai’s properties has significantly increased, but you can still get amazingly lucrative deals from DAMAC Properties. In addition, Dubai also offers a wide variety of freehold areas that expats can choose from to get the best ROI.
Where can you buy the best properties in Dubai?
Depending on your budget, preferences, and lifestyle, there are plenty of places in Dubai that can suit your needs. Whether you want to buy a high-end property or a budget-friendly option that still offers you amenities, we have you covered. Some areas like Dubai Marina, JVC, and Dubailand continue to be very popular and have high vacancy rates. For short-term lets, you can consider Business Bay and Barsha Heights. Keep in mind, though, that all the above communities offer all sorts of living arrangements and amenities, so your options are quite open!
What is the best time to buy property in Dubai?
Currently, the real estate industry in Dubai is looking up. During the COVID-19 pandemic, property prices dropped; however, now that many people have been vaccinated, real estate prices have recovered and are once again climbing up. With the commencement of Expo 2020, the prices are higher; however, sellers are still being reasonable, and many property developers are offering the competitive mortgage rates. Another major reason why it is a good time to buy a property in Dubai is the consistently high return on investment in real estate.
What is the outlook for property investment in Dubai?
In February 2021, the Dubai Land Department announced the record highest secondary market and ready sales in a single month since January 2017. This means that the property market is not just recovering but moving at a rapid pace with prices stabilising. Expo 2020 will have hugely positive effect on real estate properties in the years to come as the huge volume of traffic it will attract to Dubai will make property investors take note of the benefit of buying property in the city.