[AD] Dubai is now one of the most appealing cities for international buyers to purchase flats and villas. The demand for homes in the United Arab Emirates is only growing as a result of the present global scenario. Purchasing villas in Palm Jumeirah for expats can become a profitable investment in the future. But why people strive to buy property in Dubai and what are the most promising areas of the city?
Over the past 20 years, the Dubai real estate market has experienced several ups and downs. A powerful rise occurred in 2002 – it was then that the world’s first artificial island, Palm Jumeirah, was being built, the villas on which were sold out in a few days, and long before the island was completed. The rise was followed by a collapse – during the global mortgage crisis in 2008, real estate prices in the Emirates collapsed three to four times. However, by 2015, demand began to recover, and in 2020-2021 it began to grow rapidly.
In the last 10 years, people’s perception of the Emirates has changed. If in 2010 entrepreneurs did not understand the potential of the UAE market and considered it a high-risk investment, then in 2022 Dubai became a global brand. The new real estate boom in the Emirates was largely facilitated by the coronavirus epidemic. During the pandemic, many countries closed their borders, while Dubai remained open.
Property in Palm Jumeirah
Protected by a semi-circular breakwater, an artificial archipelago in the form of a palm tree can accommodate up to 60,000 inhabitants. Palm Jumeirah’s “branches” house private villas and waterfront homes, while the “trunk” houses hotels, shops, marinas and apartment buildings.
The area also has a park, entertainment and shopping centers, an observation deck, over 80 cafes and restaurants. High transport connectivity is provided by a network of tunnels, roads and public transport.
Palm Jumeirah offers everything from land and apartments to villas and penthouses. The area is very popular with tourists, which provides a high return on investment.
Housing in Business Bay
This area of Dubai with an area of 6 square kilometers is located in the heart of the city. It is only 1.5 kilometers from The Dubai Mall and the world’s tallest building Burj Khalifa. The new business center includes over 240 residential and office towers, landscaped gardens, and a developed network of waterways and roads. The area is still under development: it is expected that 18.5% of its area will eventually be occupied by commercial areas, 22.1% by residential, and the remaining 59.4% – mixed. At the same time, there are projects of both categories (leasehold and freehold), so it is necessary to clarify this point when you are evaluating a real estate.
Among the skyscrapers, the 35-storey One Business Bay stands out, located in the northern part of the district, just a 3-minute walk from the metro station. Not far from it – Emirates Towers and the international financial center.
Thanks to the fact that the Dubai Canal was connected to the open sea, the emergence of the unique Marasi Business Bay project became possible. There are unique houses on the water, a marina, walking terraces and shops.
Real estate in Dubai Land
In the real estate market of Dubai, this area occupies a prominent place. It is called the “Middle East Disneyland” or simply the largest entertainment and recreational destination in the world. And he rightfully bears this name!
On an area of more than 277 square kilometers, there are 26 development projects, and the total number of attractions reaches 50. A large number of recreation and entertainment areas are complemented by numerous hotels, hotels, townhouses, high-rise buildings and villas. Among them are 4 themed residential complexes, including Arabian Ranches.
According to a report by Bayut & Dubizzle, Dubai Land was one of the most attractive areas for real estate investment last year. The average yield here is 5.3% per annum.
Real estate agency in Dubai
AX CAPITAL is prepared to assist you in buying Dubai real estate. Professional assistance will make the procedure simple and easy-going.0