The purchase of luxury apartments

Dubai lures most foreign investors with promising requirements for trade expansion, a dedicated perspective towards entrepreneurs from abroad, and different aptitudes and costs. Even though in the UAE there are territorial regulations on the acquisition of objects foreign citizens may invest in property for sale in Downtown Dubai in 2023 with full right.

There are several preferred categories of real estate that our compatriots most often pay attention to:

first, these are ready-made investment projects - apartments for resale or rental. They are often bought on the first or second line of the sea;
housing is in demand in business locations like Downtown or Business Bay. It is more often bought for rent by businessmen and employees of companies working in the center. Real estate in Port de La Mer is also in high demand;
real estate under construction with a guaranteed profit from resale up to 20-30%;
a category of people buy housing in elite gated communities near the beach - exclusively for personal use.

For rentals, buyers tend to choose studios or 1-bedroom flats. If an object is selected for personal use, objects with high ceilings (at least 3 m) and panoramic windows are most often requested. Marble and other finishing materials are famous for decoration.

Downtown Dubai

Owning real estate here is prestigious, as this location is the hallmark of the city. There are large shopping centers, Burj Khalifa, the well-known fountain. However, many seek to buy housing in this city in order to rent out apartments and receive a regular income. You can quickly find tenants, as tourists who prefer to live not in a hotel but in an apartment, as well as immigrants from other cities and countries, are always in Dubai. In addition, in this metropolis, there are many citizens of the United States and European countries who work here, renting housing for a long time.

You can gain income, in addition to rent, by reselling your flats.

The sale of real estate is a critical location in the work of building organizations and real estate agents in the UAE. Purchasing a flat here is a worthwhile asset as flats in the country evolve more costly from year to year.

Buy property in Downtown Dubai

The price of a property in Downtown Dubai counts on numerous aspects, including the entire location of the property, the floor on which it is discovered, and much more.

For example, a furnished flat of 120 m2 can be bought for USD 450,000.

It is possible to become the owner of a 300 m2 villa for EUR 2.1 million.

A foreigner can purchase accommodation in Downtown Dubai without restrictions, that is, in the same way as a citizen of the UAE. Moreover, a Russian can take a mortgage from a UAE bank.

Real estate prices

Housing in the community caters for different budget levels. Costs vary from AED 933,000 (USD 254,000) for a studio to AED 36 million (USD 9.8 million) for a luxury 5-bedroom apartment. A 1-bedroom flat is around AED 1.4 million (USD 381,000), a 2-bedroom flat is AED 2.4 million (USD 563,500), and a 3-bedroom flat is AED 4.1 million (USD 1.1 million). At the same time, buying a home in Downtown Dubai is as easy for a foreigner as it is for a local citizen: this is a freehold area where expats can buy real estate in total private request.

Investment

Purchasing a residence in Downtown Dubai is a wonderful asset opportunity as it is one of the most sought-after locations in Dubai.

The average return on investment for a long-term lease is 6.2% per annum. If you choose the short-term rental option, this popular location with a lot of attractions and a constant flow of tourists can reach 11-13% per annum.

Property in Dubai

Need a flat in Downtown Dubai for acquisition or enduring residence? Real estate agency in Dubai, AX CAPITAL, will present promising opportunities and supply full details support and after-sales service. A whole list of premium objects can be discovered in the catalog on the website.