It’s a fact that there are still communities in Dubai that can yield 7+ percent. Examples of these are the Town Square and the old-time favorite Dubai Marina. In the recent years, Dubai has been experiencing price decline. This is beneficial for the buyer or the renter, but for the property owner it may mean having to decrease the asking price to a potential tenant or buyer of property.
On top of the list is the up and coming community for residential property investment the Town Square which is known for its duplex villas. This new development is strategically located at the intersection of Emirates Road and the Al Qudra Road. It is known for being stable economically. You can have a 2-bedroom to 3-bedroom apartment for only AED $920,000 whether at the Zahra Building or the Hyatt Boulevard. There are several amenities to be enjoyed in the community such as a forthcoming central park, retail outlets, and reel cinema. There are also cycling trails and a nearby international school for the kids.
Studio City at the Danube which is project of Glitz. This is considered consistent and stable over the years. Buyers can have a studio-type apartment for AED $500,000, 1-bedroom apartment for AED $800,000, and 2-bedroom apartment for AED $1 million. Studio City enjoys low depreciation and its yield is high at 7 to 8 percent. It is of a modular design and it uses square footage which makes the community popular.
Emaar’s project the Mira which is also known as the Reem is also a popular community, known for its affordable townhomes and villas. Buyers may also enjoy a couple of amenities such as sprawling parks, pools, skate park, community center, and a dog park. Prices have remained the same since 2017 and its yields also stayed the same at 7.2 percent which is higher than that of Arabian Ranches and Damac Hills. A 3-bedroom villa averages at AED 2.2 million and 40-bedroom apartments are at AED 2.6 million.
The Marina has remained not only a popular location to reside but also a good real estate investment. Property prices dropped from AED $1,650/sq. ft to AED $1,500/sq. ft. Regardless of the price decrease, the community can still yield 6.4 percent which is the same as the previous year. Investors have options of townhouse and apartment units with mesmerizing city and beach views. The Marina enjoys a thriving environment with international cafes and restaurants around it, multiple five-star hotels, and the much awaited Ain Dubai which will be the world’s largest Ferris wheel.
Sports City on the other hand is popular for the apartment category. It is known for being affordable. The community continues to yield between 7.0 to 8.7 percent. Its studios cost AED $500,000 or less while 1-bedroom apartments may range from AED $550,000 to AED $700,000.
Before you decide to buy a real estate property, make a call first to HBS Dubai. You don’t have to pay for anything.