Dubai is one of the best cities globally regarding ROIs, rental yields, great lifestyle, and nightlife, and you can easily compare it to any other developed western city.
Dubai’s real estate market is booming, and experts suggest this is the best investment time, especially in Dubai villas and lavish apartments.
Keeping that in mind, what are the best areas in Dubai to buy property, then? Dubai is designed in such a way that all of its areas attract more and more visitors and investors.
And if there’s one thing that Dubai does better than many others is the infrastructure. Dubai’s tall and shiny skyscrapers, villas, beaches, and other buildings are like none other, such as the Burj Khalifa and the Creek Tower (soon).
Investing in Dubai’s real estate sector has been a smart choice for two decades, and the industry is expected to grow exponentially in the coming future.
Let’s look at some of the best areas in Dubai to buy property in 2023.
Read | Choose The Right Real Estate Property In Dubai
Best Areas In Dubai To Buy Property 2023
Below is the list of the best areas (freehold areas) in Dubai to buy properties that offer good ROI, reasonable rental yield, and a great lifestyle.
1: Dubai Marina:
Not only does the Dubai Marina offer a great return on investment, but it’s also among the top three most visited areas in Dubai.
Tourism is also why people love investing a lot in Dubai Marina. The sea-facing avenues, apartments, villas, many restaurants, cafes, shopping outlets, security, and other infrastructure make the area more appealing.
The state-of-the-art technological innovations in this area’s infrastructure are stunning. Therefore, you can call Dubai Marina the “New Dubai City” and the “Pearl Of Dubai.”
These things make Dubai Marina one of the best freehold areas to invest in the city.
You can expect to pay around AED 1.1 million or around USD 300,000 to buy a 1-bedroom apartment in Dubai Marina, AED 1.7 million or USD 460,000 for a 2-bedroom, and about AED 3 million or USD 815,000 for a 3-bedroom apartment.
Read | RERA Rental Increase Calculator In Dubai
2: Downtown Dubai:
Downtown Dubai is viewed as the city’s center, and the image that comes to your mind when you hear or think of Dubai is this area.
The home of the world’s tallest building, the Burj Khalifa, and the world’s largest mall, the Dubai Mall, is Downtown Dubai.
Everyday life in Downtown Dubai is fast-paced, and this whole area is technologically advanced.
According to reports, Downtown Dubai is the most visited area of Dubai, with the Burj Khalifa being the primary reason (the center of attention).
That’s why the real estate sector of Downtown is booming, and prices are increasing. Moreover, Downtown Dubai is renowned for offering great ROIs to its investors.
In simpler words, Downtown Dubai is everything you can wish for in both the short and long run, and most importantly, this place will give you a great vibe.
You can expect to pay around AED 1.5 million or USD 410,000 for a 1-bedroom apartment, AED 2.5 to 3 million or USD 680,000 to 816,000 for a 2-bedroom apartment, and around AED 5 million for a lavish 3-bedroom apartment in Downtown Dubai.
Read | Can Foreigners Buy, Sell, And Rent Property In Dubai?
3: Palm Jumeirah:
Who doesn’t love having a nice sea-facing apartment or villa? Don’t worry; the most famous artificial island worldwide, Palm Jumeirah, has your back.
Palm Jumeirah is truly an architectural and engineering marvel of Dubai. It is also one of the most visited tourist attractions in Dubai and globally.
The island is also the center of attention for foreign investors. The government has declared Palm Jumeirah a freehold property (open to foreign investment for residency) to make things even better.
Furthermore, there are a lot of interesting new mega projects already announced by the Dubai government here, so the real estate prices are going to skyrocket on this island.
Over time, Palm Jumeirah is also known for great ROIs, rental yields, and great scenery. Since its foundation, this marvelous island has been a great investment hub for foreigners.
Most importantly, the villas of Palm Jumeirah are highly in demand. Wealthy investors prefer villas over other real estate properties for either living or hoping to get good ROI.
A 1-bedroom apartment in Palm Jumeirah can cost around AED 2 million or USD 545,000, AED 2.5 million or USD 680,000 for a 2-bedroom apartment, and around AED 5 to 6 million or USD 1.3 to 1.6 million for a lavish 3-bedroom villa/apartment.
Read | Dubai Real Estate Market Forecasting
4: Jumeirah Village Circle (JVC):
Like the Arabian Ranches, the JVC (Jumeirah Village Circle) is one of the best neighborhoods to live in.
JVC is more like a family-oriented community, so people who like to retire and live in Dubai prefer Jumeirah Village Circle because of its friendly vibe/surroundings.
How JVC is designed and engineered is amazing, and do you know what the most important thing in real estate is? It’s the location.
JVC is situated at almost the center of Dubai, and all other popular areas like Dubai Marina and Downtown Dubai are at a short distance.
Moreover, the roads in Jumeirah Village Circle are easily connected with Sheikh Zayed Road, the most important road in Dubai, making transportation easier.
And if you are a nature lover, you’ll find JVC extremely peaceful and exciting to live in, and it is also a freehold area.
- 1-bedroom apartment here can cost around AED 750,000 or USD 200,000
- 2-bedroom apartment may cost AED 1.1 million or USD 300,000
- 3-bedroom apartment/villa costs around AED 1.3 to 1.5 million or USD 350,000 to 410,000.
Read | Is It Worth Buying A Property In Dubai For Living Purposes?
5: Arabian Ranches:
Like the JVC, the Arabian Ranches is a great neighborhood to live in and is one of the most peaceful areas in the city; it’s also highly secured and gated communities.
Arabian Ranches is a beautiful society with many swimming pools, playing areas for kids, parks, gardens, and supermarkets.
Moreover, it’s also a family-friendly community, and the residents here are extremely welcoming. This community’s most in-demand properties are its villas, which offer great ROIs and rental yields.
Because of these factors, this freehold area is among the best to invest in and get good returns. The Arabian Ranches is a great place to raise your kids, as there are many top schools for children.
You may pay around AED 750,000 or USD 204,000 for a 1-bedroom apartment, around AED 1.5 to 2 million or USD 405,000 to 545,000 for a 2-bedroom apartment, and around AED 3.1 to 3.5 million or USD 845,000 to 1 million for a 3-bedroom apartment/villa.
Read | Can I Buy Property In Dubai And Get Residency?
6: International City:
And last but not least, the International City is also a great place to invest in for great ROIs, and this area truly lives up to its name.
The uniqueness of the International City is that you get to see many international communities living in different districts with their names, like the China District, Spain District, England District, and The Forbidden City.
This freehold area is great for sellers and buyers, as many properties are on sale for reasonable prices.
Every district that is named after a country gives actual vibes of that country, thus making the International City a great tourist attraction, especially from the countries they are named after.
As per reports, you can expect an ROI of around 7.5% in this area, which is considered good by many experts.
You can buy a 1-bedroom apartment for around AED 320,000 or USD 87,000; a 2-bedroom apartment may cost around AED 550,000 to 660,000 or USD 150,000 to 180,000, and a 3-bedroom apartment/villa costs around AED 1 to 1.5 million or USD 272,000 to 406,000.
7: Dubai Hills Estate:
Dubai Hills Estate is also a great residential area to live or invest in. Residents there call it one of the most well-planned communities in Dubai.
The primary attraction of this area is the 18-hole golf course. Dubai Hills Estate offers a great lifestyle and is full of greenery everywhere, with amazing views from the hills. You can expect an ROI of around 5.5%.
Like the Arabian Ranches, Dubai Hills Estate also sits strategically where famous shopping areas like Al Barsha and Al Quoz are a short distance from this community.
Also, the Dubai International Airpot is half an hour’s drive from this neighborhood. Dubai Hills Estate’s villas are preferred by many high-net-worth individuals for ROIs and living purposes.
You can pay around AED 900,000 to 1 million or USD 245,000 to 272,000 for a 1-bedroom apartment, around AED 2.3 million or USD 626,000 for a 2-bedroom apartment, and around AED 3 to 4 million or USD 816,000 to 1 million for a 3-bedroom villa/apartment.
Why Is Investing In Dubai A Good Idea?
There is not just one but numerous factors that make Dubai an investment hub. First, government policies make it extremely easy for everyone to invest in Dubai’s real estate.
Everyone from foreigners to expatriates and GCC to Non-GCC residents can buy, sell, and rent freehold properties in Dubai. This makes Dubai appealing. RAS Properties can help you if you are interested in buying, or sell property in UAE.
Second, the lifestyle in Dubai is luxurious and unmatched by many other countries in the world. Tourists from all around the globe visit Dubai every year to get a glance at this lifestyle.
Third, Dubai is among the safest cities worldwide, and not only Dubai but Abu Dhabi and Sharjah are also among the safest globally.
According to the Numbeo Crime Index Report 2022, Dubai has a crime index of 16.37, which is extremely low compared to Hong Kong, Canberra, Tokyo, Bangkok, and Liverpool.
The safety index of Dubai is 83.70, making it the 8th safest city globally, while Abu Dhabi is at the top spot in this index.
Fourth, the economy of Dubai is very stable and growing. It was among the first countries to get back on its feet after the harsh lockdowns due to COVID-19, and the economy, especially the real estate sector, is expected to grow in the coming years.
FAQs:
Is Buying Property In Dubai A Good Investment?
Of course, it is. It’s a great investment to buy property in Dubai, as the ROI is better than in many developed cities like Hong Kong, London, and New York. The average ROI in Dubai can be 7.5% to 8.4%, which is good.
Which Property Is Best To Buy In Dubai?
Villas, apartments, flats, and homes are among the best properties to buy in Dubai, with villas being in the most demand.
What Are The Risks Of Buying Property In Dubai?
Although it is easy and safe to buy property in Dubai, beware of real estate scams, comprising the area of a preferred neighborhood, low rental yields, and lack of real estate affairs knowledge.
However, all of these risks can be avoided if you’re cautious enough. Having the required knowledge about real estate matters will prevent you from being affected by these risks.
Moreover, you must adhere to Dubai’s land department’s strict laws because failing to do so might bring trouble for you. Watch out.
Which Is The Best Area To Buy A Villa In Dubai?
According to reports, DAMAC Hills 2 community is considered the best area to buy villas in Dubai, as the ROI, surroundings, neighborhood, and lifestyle are great.
Final Words:
In the end, it is a great idea to invest in the real estate sector of Dubai because of the ROI and rental yields primarily.
The best areas in Dubai to buy property are Palm Jumeirah, Downtown Dubai, Dubai Hills Estate, JVC, and others.
I hope you find this article helpful. Thanks for reading.
