Dubai is an area of massive construction, with thousands of completed and under-construction projects. The real estate market in the emirate is vast and almost any type of can be found here. In this article, we will discuss the most popular types of The Dubai real estate market includes:
Studio; duplex; loft; penthouse.studio;Duplex Apartment;attic;Penthouse.townhouse; villa.townhouse;villa.
What are apartments in Dubai like?
In the UAE, there is no concept of an "apartment" as for rent.
Apartment sales in Dubai exceed those of private homes. For example, 1,335 apartments were sold in September 2021, while just 708 villas and townhouses were sold, according to analytics service Property Monitor. Studios are the most affordable apartments, with an average cost of AED 1,200 ($326) to AED 1,400 ($381) for 1 square metre. A studio apartment in Dubai is a two-bedroom apartment where one room is a fully furnished bedroom and the other is a living room and kitchen.
The most popular and often offered sellers in Dubai are two-bedroom apartments. Most apartments for sale in Dubai are between 93 and 186 square metres in size and cost less than AED 2.5 million ($680,500). The most spacious and expensive apartments are located in the Palm Jumeirah area.
According to data from analytics portal Property Trends, in November 2021, the majority of apartments in Dubai were sold in two areas: Business Bay and Dubai Marina (788 and 742 transactions respectively). Average price per 1 square metre In November 2021, apartments here cost AED 18,200 (USD 4,900) and AED 13,800 (USD 3,700).
Business Bay, the city's commercial hub, saw the number of real estate transactions double in 2021 compared to 2020, reaching 5,059.
Dubai Marina is a coastal area of the metropolis. In 2021, 2,709 properties were sold here, 802 more transactions than in 2020.
In addition to the beach and marina, one of Dubai's largest shopping malls is located here, with an area of over 36,000 square metres. Because the area is so attractive to tourists, local accommodation is often rented out as short-term rentals. Crowdfunding platform SmartCrowd estimates that average returns for apartments in Dubai Marina will be 8–9% in 2021, compared with 4–5% in the rest of the city.
The most affordable apartments in the housing under construction (off-plan) category in Dubai in November 2021 are located in active development areas, less than half an hour away from the Persian Gulf and the city centre. We are referring to Dubailand and International City. For example, homes in the mid-rise Rukan Maison (Dubai) , which will be delivered in the first quarter of 2023, can now be purchased for AED 11,000 (USD 3,000) per 1 square metre. The developer planned a park area with landscaping and recreational areas, as well as a swimming pool and playground.
Unique apartments: duplexes, lofts and penthouses
Duplexes, lofts, and penthouses are similar types of expensive apartments that are sometimes confused. A duplex is an apartment with two floors. Loft — an apartment with a second light, a space without overlapping ceilings, so that the room visually appears wider than it actually is. Like the duplex, here there is also a second floor, but its area is smaller than the first floor by the size of a second light. Additional windows in an attic or apartment with unusually high ceilings make the room brighter and visually more spacious. Penthouses in Dubai are two-story or overlook apartments on the top floor of a building, often with terraces and private swimming pools. Penthouses can be one, two or even three stories high. Typically, penthouses are larger than any other type of housing, even larger than most villas.
Luxurious three-story penthouses overlooking the city and the Persian Gulf can cost tens of millions of dollars. For example, in August 2021, a three-storey penthouse at The Residences Dorchester Collection in the Business Bay neighbourhood sold for AED 74.9 million ($20.4 million), while in the actively developing Dubai Sports City neighbourhood, a penthouse Apartments are available for less than the price of exclusive Palm Jumeirah townhouses. Demand for penthouses has increased in 2021, so much so that they are expected to appear on the secondary market, Gulf News reports.
Townhouses vs. Villas: What's the Difference?
A townhouse is a low-rise house divided into several multi-level apartments, each with its own entrance and terrace. This is a great option for those who want the benefits of owning their own home in a well-located complex, but don't want to overpay.
A villa is a comfortable private residence in a single-family house, usually with a garden and swimming pool on its territory. Villas in Dubai are more common than townhouses.
As of the end of 2021, the average price of a one square metre villa in Dubai was AED 10,500 (USD 2,800).
Townhouse products account for 13% of the total product in Dubai's real estate market. Typically, a two- or three-bedroom townhouse has the same square footage as a villa with the same number of bedrooms, while townhouses cost less.
Emaar Waterfront and Dubai Harbor communities are leaders in the primary housing market in autumn 2021. In the secondary market for villas and townhouses, the most popular communities are Damac Hills and Damac Hills 2 and Al Furjan. The average price of a 1 square metre villa in Damac Hills is around AED 12,800 ($3500), while the average price in Al Furjan is around AED 9200 ($2500). These communities are dominated by townhouses and villas.
Boasting a private metro station and two large shopping malls, Al Furjan is one of the communities in Dubai that is still under active construction. In May 2021, 217 properties were sold within 4 hours after developer Nakheel announced the construction of the new Murooj Al Furjan community of 418 villas.
The Damac Hills community is located in the heart of the Dubailand community. The neighbourhood was originally built around the Trump International Golf Club. In 2021, Damac revised its master plan and announced its decision to develop part of the golf club's course into buildings and the rest into football fields, basketball courts and cricket fields.
The communities of Tilal Al Ghaf, Arabian Ranches 3 and The Valley in the Dubai region are leaders in single-family home sales in the under-construction housing market.
As of early 2022, the average cost per square metre of a townhouse under construction is:
Valley from AED 7,750 (USD 2,110);Al Furjan from AED 7,780 (USD 2,120);Tilal Al Ghaf from AED 8,811 (USD 2,399);Arabian Ranches 3 prices start at AED 10,832 (USD 2,949).
The Valley is a gated luxury community with a private beach and park by developer Emaar. Off-plan townhouses are now available for purchase and will be delivered by the end of 2024. Tilal Al Ghaf is a neighbourhood by developer Majid Al Futtaim. The community master plan was updated in November 2021, with the lagoon area increased by 50%, the green area increased by 20%, and the building density significantly reduced. In the Arabian Ranches 3 community, developer Emaar offers townhouses with a common wall as well as stand-alone villas. Some of the rooftops feature spacious seating terraces and gardens. Several of the for sale are scheduled to be completed in early 2023.
Dubai ranks among the top five cities in the world for buying a holiday home in 2021, according to a report by the portal Compare The Market.
Dubai's most popular residential areas
A residential complex differs from an independent building in its overall architectural concept, which is considered by the developer. The concept combines one or more , functionally related infrastructure and the planned landscape of the surrounding area. For example, in the closed Emaar seafront complex, the following features are planned and have started to be implemented:
lighthouse with observation deck;Clean beach, 1.5 kilometres long;The yacht club has a marina with a capacity of 1,400 berths.
The management company is responsible for the management of the common areas of the residential complex (pathways, greenery, swimming pools, playgrounds).
The most popular apartments buy on the Dubai market in November 2023 are located in the following areas:
five luxurious suites at Jumeirah Beach Residences (JBR);BV Residences 2, Jumeirah Bay Island;Five Palm Jumeirah Islands in Dubai;One Palm Hotel in Palm Jumeirah;Banyan Tree Dubai Hillside is located in JLT.
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Buy Residential Properties In Dubai | InchBrick Realty
AdventureDubai is an area of massive construction, with thousands of completed and under-construction projects. The real estate market in the emirate is vast and almost any type of buy property in Dubai can be found here. In this article, we will discuss the...
