The most populous of the United Arab Emirates, Dubai is a city of excellence. Huge skyscrapers – Burj Khalifa, which are the tallest towers in the world at 818 meters, gigantic shopping malls dedicated to luxury, and urban and architectural-Pharaonic projects characterize the city. Black gold is at the origin of the city’s continuous development, an originally arid desert and a small fishing port that makes Dubai one of the most prestigious cities in the world today.
Luxury apartments with all modern amenities and panoramic views of the harbor or downtown make up most of the city’s prestigious estate park, but other property in Dubai is available in neighborhoods such as the exclusive Al Barari community, where magnificent luxury villas with gardens stand out.
Another exceptional project in Dubai is a group of three artificial archipelagos, the Palm Islands, which saw the light of day with the Palm Jumeirah. The latter houses numerous prestigious villas of three types – “Signature Villas”, “Garden Homes” and “Canal Cove Town Homes”, as well as palaces and luxury hotels. Then, don’t forget that if you are suffering too much from the heat, you always have the opportunity to ski at the Mall of the Emirates!
Number of villas for sale in Dubai is growing
The pandemic has made adjustments to the process of buying real estate in all countries. An interesting picture has developed in the Emirates. Buyers literally pounced on ready-made villas and townhouses, which resulted in higher prices for specific properties.
The Dubai Land Department registered 110 transactions for the purchase and sale of villas and townhouses in May, and 665 in October. Thus, the number of contracts jumped fivefold. There are several reasons.
Prices for luxury property in Dubai
Secondary property prices have been falling over the past four years, making houses affordable and, as a result, attractive. Now the price bottom has been passed. There are no super-cheap offers on the market, and interest in real estate remains high. Including objects with the prefix “luxury” (from $ 3 million to $ 15 million).
The deferred demand has already added 10-15% to the cost of villas and townhouses in the middle segment, and 20-25% in the higher class. And until the summer of 2021, prices are likely to rise by another 10-15%.
For example, a 480-meter villa with four bedrooms and access to the beach on the Palm Jumeirah branch cost $ 2.0 million during the bottom period – now from $ 2.5 million. In the District One project, four-bedroom houses were sold for $ 2.0 million – today there are no offers cheaper than $ 2,7 million.
But a more striking example of rush demand was the Noya project launched in Abu Dhabi on Yas Island from the largest developer in the UAE Aldar Properties. On the twentieth of November, the developer opened sales, and all 240 townhouses with two, three, and four bedrooms were sold out in four hours. This is where both the low price ($ 350-550 thousand) and the convenient location converged.
Buy property in Dubai
Every year, the number of transactions for the purchase and sale of residential property in Dubai is growing exponentially. Why are apartments here so popular among international investors and buyers from different countries? The answer has three components. The first is one of the largest rental incomes in the world, about 10.6%.
After the quarantine in 2020, the housing market has stabilized, but it is possible to buy real estate in Dubai in 2021 at the same prices that have not been increased.
The cost of real estate in the city depends on the type of housing, its area and location. For example, a two-bedroom apartment in the Genesis by Meraki complex costs just over AED 1 000 000, or US $ 273 000.
Schools, many shops and green parks are located near the residential complex. The residential complex has a gym, swimming pool and restaurant.
Luxury five-bedroom villa within walking distance of Burj Khalifa and Dubai Mall is selling for AED 16 966 000 or US $ 4 600 000.
The house is located near a forest nature reserve, so its residents will be able to constantly admire the green landscapes. This is facilitated by the high floor-to-ceiling windows, which offer a breathtaking view.
How to buy property in Dubai
Online services are gaining more and more popularity during the quarantine period. In order to preserve the health and safety of Dubai residents, a remote payment service for real estate transactions has been launched, which will facilitate transactions with real estate.
The service is available for buying and selling real estate as well as for mortgages and grants. Initially, all documents are sent online to authorized persons, then they are verified and the transaction is registered. The documents are uploaded and the transaction is paid from the authorized person’s electronic wallet. After that, the owner receives an email notification about the legal status of the property.
We will help you buy luxurious property in Dubai
The real estate agency in Dubai (UAE) works with residential and commercial, including retail and primary real estate. We help sell, buy, rent and rent luxury villas, apartments in Dubai, penthouses with premium finishes in the elite areas of Dubai, such as Dubai Marina, Downtown, Palm Jumeirah, Emirates Hills and so on.
Start fulfilling your desire to become the owner of a luxury home in the city of your dreams now! Find your villa, penthouse or apartment among the many classifieds for sale of the best accommodation in Dubai on our website!