Analysts, statistical bureaus and consulting firms in Dubai conduct studies on a regular basis to identify the best areas and locations in Dubai in terms of investments in real estate. It would seem that the development of infrastructure in remote areas, the development of transport infrastructure and the emergence of a large number of affordable housing options in remote city districts could have changed the leaders top-list. However, the Top-5 of the best locations for buying property in Dubai has not changed for several years.
It usually includes, as it may well be known to many, such central locations like Dubai Marina, JLT and Downtown. Business Bay and Dubai Sports City complement the Top-5 popularity list. And popularity criteria are based on the volume of transactions and the potential buyers’ interest in certain areas. Thus, 14 per cent of all property searches, according to the latest data, consistently falls on Dubai Marina. It is this premium luxury real estate oasis with property units suiting the most exquisite demands and all major Dubai attractions located here, that calls for experienced and sophisticated property investors not ready to compromise when choosing a property in Dubai. In the three months from July to September, as imexre.com has recently reported of, property sales deals in Dubai Marina amounted to USD 178 million (AED 654 million).
Jumeirah Lakes Towers (JLT) attracts 8 per cent of potential property investors wishing to buy an apartment in the center of Dubai. JLT is a good alternative to Dubai Marina: areas are divided just with the Sheikh Zayed Road, and besides, JLT has Dubai Metro stations on its both ends, which attracts "white collars" here.
Downtown Dubai, where the world’s tallest building Burj Khalifa is located, and property is considered the most expensive in terms of per sqf price, however, consistently lures 7 per cent of property searchers, according to data collected during 10 months of the year by Bayut consultancy.
And 10 per cent more potential real estate buyers are constantly looking for a place to live in Business Bay and Dubai Sports City (5 per cent per each of the areas). Moreover, the latter was the only one remote Dubai area to get into the Top-5 as per buyers demand for property.
But what about ROI (return on investments) rate? Here, too, everything is stable and predictable. And although CBRE consultancy specifies that averages of 9 and 10 per cent of fixed income are stable only in the mid-market property category of International City and Discovery Gardens, we’d say that central areas, and the man-made island of Palm Jumeirah still hold out.