APARTMENTS IN DUBAI

Apartment development projects

Dubai’s real estate market is booming with stunning new developments from top developers like Ellington, DAMAC, Sobha, Danube, and Nakheel. These developers are known for their luxurious and innovative off-plan projects, offering exceptional opportunities for those looking to buy flats in Dubai.

Key apartment developments in Dubai:

Ellington Properties:

• Hillmont Residences in Jumeirah Village Circle (JVC): Offering modern living spaces with beautiful community views, perfect for families and young professionals.
• Claydon House in Mohammed Bin Rashid City: Located in the prestigious Mohammed Bin Rashid City, this development promises elegance and serene living with spacious interiors and high-end finishes.

Damac Properties:

• ELO in DAMAC Hills 2: A vibrant community offering stylish apartments with access to world-class amenities, focusing on a luxurious yet active lifestyle.
• DAMAC Bay 2 in Dubai Harbour: This waterfront property provides panoramic views of the Dubai skyline and premium amenities, ideal for those seeking a sophisticated urban lifestyle.

Danube Properties:

• BAYZ 101 in Business Bay: Centrally located with easy access to major business hubs, offering smartly designed spaces for dynamic urban living.
• Diamondz in Jumeirah Lake Towers (JLT): This project in Jumeirah Lake Towers stands out for its innovative architecture and strategic location, making it a gem for residents and investors alike.

Sobha Realty:

• Sobha One: A masterfully planned community featuring interconnected towers with exquisite city and waterfront views, emphasizing a balanced lifestyle with green landscapes.

Meraas:

• Verve at City Walk: Situated in one of Dubai’s most fashionable neighborhoods, Verve offers chic urban apartments within walking distance of City Walk’s myriad attractions.

Nakheel:

• Naya at District One: Part of the famous Mohammed Bin Rashid City, Naya offers luxurious homes in a tranquil setting, with exceptional amenities and green areas.

Select Group:

• Six Senses Residences: Known for its ultra-luxurious homes and exceptional service, this development integrates well-being with upscale living, promising a high-end lifestyle experience.

These off-plan properties represent excellent investment opportunities, combining luxury living with promising returns in one of the world’s most dynamic real estate markets. Whether you’re looking to buy for personal use or as an investment, these developments offer something for everyone.

Apartments in the most popular areas

Discover your dream home in Dubai’s most popular neighborhoods with our selection of apartments for sale. From the vibrant Jumeirah Beach Residence (JBR), known for its stunning oceanfront views, to the modern towers of Jumeirah Lake Towers (JLT), and the emerging vibrant community of Town Square, each area offers its unique charm, with proximity to Dubai Marina. Or check out the innovative new properties at Dubai Harbour, a new area for luxury living with spectacular waterfront apartments. These areas are perfect for those seeking a dynamic lifestyle in the heart of Dubai’s most popular neighborhoods. Whether for personal use or as an investment, these apartments offer access to world-class amenities and stunning views.

Apartments in Dubai Marina

Dubai Marina offers plenty of real estate opportunities for investors looking to expand their portfolios in one of the most sought-after locations in the city. Known for its stunning high-rises and vibrant lifestyle, the Marina is an area of luxury living and lucrative investment potential. Apartments in this area promise high rental yields and appreciating property values, making them a smart choice for those looking to invest in Dubai’s dynamic real estate market. Whether you’re a seasoned investor or new to the scene, Dubai Marina provides lots of opportunities to leverage the property sector.

Apartments in Business Bay

Located in the commercial heart of Dubai, Business Bay is a strategic choice for investors targeting prime real estate opportunities. This area is noted by its modern infrastructure and mixed-use developments, making it highly attractive for both residential and commercial investments. Business Bay’s close location to key landmarks and easy access make it very appealing, ensuring a constant demand for rental properties. Investors can leverage this demand to earn strong returns and capital appreciation. With continuous updates and improvements, Business Bay is proving to be a smart investment in a market that is always growing and changing.

Beachfront apartments in Dubai

Dubai is renowned for its luxurious beachfront apartments, offering stunning views and high-end lifestyles. At Dubai Creek Harbour, residents can enjoy peaceful waterfront living with modern amenities, all within a short drive of downtown Dubai. Alternatively, Jumeirah Beach Residence (JBR) and Palm Jumeirah offer vibrant beachfront lifestyles with plenty of shops, restaurants, and leisure opportunities just around the corner. These iconic locations provide the perfect backdrop for those looking for a blend of beachfront serenity and urban convenience in Dubai. Whether you’re looking to invest or find your dream home, Dubai’s beachfront properties, especially those on Palm Jumeirah, offer a stunning experience in prime locations.

Rental yield

To examine rental trends in Dubai’s key investment areas, we looked into the median annual rental values and prices of 1-bedroom apartments. These 1-bedroom units comprised about 51% of all registered rental transactions in Dubai in 2023.

Dubai Creek Harbour saw the most significant percentage increase in annual rental values in 2023. Renting a 1-bedroom apartment in this area would cost around AED 78,000, marking an impressive 42% rise compared to 2022 values. At current rates, this translates to a gross yield ranging between 5 to 6%.

Downtown Dubai also experienced a notable surge in the median annual rental value for 1-bedroom apartments, rising by 36% to reach AED 109,000 in 2023. Market rates indicate an expected gross yield of 5 to 6%.

While the overall average rental values for 1-bedroom apartments across Dubai increased by about 20% in 2023, Dubai Marina’s increase was relatively less pronounced compared to its price appreciation. The median rental for a 1-bedroom apartment in this area in 2023 amounted to AED 85,500, reflecting a 22% increase over 2022. In terms of rental yields, this translates to a range of 3 to 4%, based on median rental values transacted in 2023 according to DXBInteract and DLD data.

Business Bay witnessed a 15% growth in the median rental value for 1-bedroom apartments, reaching around AED 72,500 in 2023. This corresponds to a yield range of 4.5% to 5.5%.

In summary, Jumeirah Village Circle (JVC) potentially offers the highest gross rental yield among these locations, within a range of 5.5% to 6.5%. The median rental value for a 1-bedroom apartment in JVC in 2023 is approximately AED 50,000.

Conclusion & outlook 2024

The market is projected to sustain its growth momentum, albeit at a more moderate rate compared to previous years. Anticipations for 2024 suggest a notable upswing in wealth accumulation. Particularly noteworthy is the considerable increase in inquiries for listings within the secondary market.

Furthermore, suburban areas are experiencing a surge in demand, signaling a preference for spacious living environments in serene settings. Sustainability has also emerged as a crucial consideration, with eco-friendly initiatives gaining traction among environmentally conscious buyers.

Dubai remains a favorable destination for investors. Despite the introduction of Corporate Taxation in the UAE from June 2023, there’s no taxation on individual salary income. Additionally, individual investors don’t face taxes on rental income from property or capital gains in the UAE. The increasing popularity of resident and Golden visas for property investors, along with ongoing global geopolitical tensions, contributes to a positive outlook for Dubai’s real estate market in 2024.