Many people think about how profitable it is to buy studio in Dubai. Even though there are many advantages of owning housing in a metropolis, you can get something completely different from what you wanted, an unprofitable or illiquid apartment.
That is why it is important to understand in advance what are the pros and cons of buying a particular property in different quarters of Dubai.
What are the advantages of buying an apartment in Dubai?
Seasoned investors who invest in local housing to rent or resell know that the city is very attractive to tourists and ex-pats from all over the world. Therefore, apartments in most areas of Dubai can bring good profits, and this is a definite plus.
Profitable and liquid apartments in the following quarters of the city:
- Dubai Marina;
- Palm Jumeirah;
- Downtown Dubai.
Buy an apartment in Dubai
Some prefer to buy an apartment in Dubai and not rent it out, but to live in their homes, coming for vacation or work. In their opinion, renting a house (including a hotel room) is unprofitable, since it requires a lot of money. If you regularly pay landlords, then in a few years you can say goodbye to a fairly large amount.
Many people combine living in their apartment during their vacation in Dubai with short-term (several days) rent. Real estate agencies help homeowners with this.
Property in Dubai
Despite the many advantages of owning property in Dubai, there are also disadvantages for some. So, if you buy housing on the outskirts of the city, then you can see for yourself the shortcomings of local apartments from your own experience.
Apartments in some areas are not suitable for resale. For example, the houses in International City are almost 20 years old, which makes them illiquid, and the infrastructure in the Dubailand quarter is not very well developed, which can turn off those who plan to buy a studio in Dubai.
However, tenants can easily be found in these areas, for the reason that several people live in rented apartments here at once. Often these are a dozen emigrants who receive low wages and do not have the opportunity to rent separate housing. Real estate in Dubai in such conditions quickly comes into an unpresentable form.
Apartment options in Dubai
Today, the following apartment options are presented on the Dubai real estate market:
- compact studios;
- one to five-bedroom apartments;
- duplexes – duplex apartments or apartments with high ceilings;
- luxury penthouses – huge apartments occupying the top two floors of the house, often have a terrace with a private pool and seating area.
Apartment as an object for investment
As a rule, rental rates for apartments are an order of magnitude lower than for villas and townhouses. Another advantage of the apartments is that the high-rise residential complexes have various amenities such as swimming pools, gyms, cafes, shops, etc. Some high-end residential complexes also offer apartment hotel services. All this stimulates the growth of demand among potential tenants.
For a profitable investment, it is important to choose housing in a good area. The city’s coastal areas, such as Dubai Marina, and Palm Jumeirah, as well as communities that are home to numerous business centers, such as Business Bay, are in high demand among tenants. In the areas listed above, housing is priced more expensive. More affordable options can be found, for example, in Dubai Silicon Oasis or Jumeirah Village Circle. Usually, investors prefer to buy several small studios or apartments with one or two bedrooms. Such real estate is in demand both among tourists and residents and always has high liquidity due to its affordable price.
Earnings on rent
As in other countries, in the UAE, rent is divided into long-term and short-term. The latter option is more profitable, as it is designed mainly for tourists. However, renting apartments for a short period also implies that the owner will have to deal with cleaning, minor repairs, and other nuances. In Dubai, it is possible to rent housing through management companies that, by proxy, resolve all rental issues, from finding clients to cleaning, changing bed linen, etc.
Choose real estate with Emirates.estate
To choose the best investment option for apartments in Dubai with an ideal price-quality ratio, it is very important to analyze all possible offers from developers (developers) and real estate agencies. To do this, it is not necessary to study the pages of different companies. Just go to the site Emirates.Estate where all the most relevant sale announcements are collected. Here you can also find prices in euros, dollars, and dirhams to better navigate the market. Hurry up to choose the best option for you today, as the demand for housing in Dubai is growing rapidly, and the supply is always limited.