Bayut Exclusive Report: Most Popular Property Buying Areas of Dubai, Jan’17
With the new year bringing in renewed hope for real estate investors around the world, the property sector in Dubai is likely to witness an increased interest from buyers looking to build and expand their portfolios. In the year 2016, Dubai property market’s apartment segment offered an average rental yield of 5.6%, that went up to 7.4% in various categories. Considering the global economic scenario, the rental yields in Dubai offer a pretty impressive return on investment, coupled with security of one’s assets and room for capital value growth. With the above pros in mind, Bayut.com brings you a guide to areas that remained most popular for buying properties in January 2017, hoping you will take the leap of faith to enhance your income and wealth baskets.
Apartments
One of the most popular investment categories owing to persistent demand for rental accommodation in the emirate, apartments in Dubai returned an average yield of 5.7% in the outgoing month. However, individual categories like studios and 1-bed units offered returns of well over 7%. According to Bayut.com’s analysis, the most popular area for buying apartments in January, or the one where most users intend to buy an apartment, was Dubai Marina. The waterfront community has been a clear favourite with both buyers and investors for several months now due to the high-end lifestyle and premium returns that it offers.
It was followed by the glamourous Downtown Dubai, a manifestation of luxury living and extravagance. Life here is always happening and residential spaces rarely go out of demand. The third spot was claimed by the highly practical and relatively affordable Jumeirah Lakes Towers, a preferred choice for mid to high-end investors. At the fourth spot was Palm Jumeirah, another address well known and well desired across the world. Only the views of the Arabian Gulf that the apartments here offer are enough to explain the popularity of this community. The last spot on our list for January was claimed by Business Bay, the centre of all business activity in not only Dubai but all of MENA region as well.
Inclined to buy? Have a look at the options
Villas
Luxury of space, room for kids to indulge in outdoor activities and serene atmosphere is what makes villas in Dubai so attractive. For the month of January, the area that received most search hits on Bayut.com from interested buyers was Arabian Ranches, the suburban bliss offering quality living environment to residents. And like in the apartment category, Palm Jumeirah made the list for popular villa communities as well by taking the number two spot. At third position was The Villa. It is one of the highly maintained and quality residential communities along the western strip of the emirate and are popular with families looking for green spaces and a peaceful setting. The fourth spot was claimed by Dubailand, while villas in the Emirates Hills pushed the community to the number five spot.
Consider villa options in these areas
Offices
Business bay might have only made it to the fifth place in the apartment category, but it was head and shoulders above its peers when it came to buying office spaces in Dubai. The area is the headquarter to some of the most sough-after organisations in the emirate and spaces here are purpose-built for providing solutions to corporate needs. The second spot went to Jumeirah Lakes Towers. The area’s accessibility and proximity to key areas make it a preferable locality for setting up an office. Downtown Dubai got the third position, while Dubai International Financial Centre took home the fourth spot. The top five list was rounded up by Barsha Heights.
