Buy Properties in Dubai
People love to buy real estate in Dubai because of benefits like zero taxation, high rental income, excellent ROI, modern infrastructure, and state-of-the-art facilities. While Dubai is comparatively affordable, prime locations like Palm Jumeirah and Downtown Dubai are still expensive. However, investors can choose their locations to buy property in Dubai because of upcoming neighbourhoods like Mina Rashid.
Here are the five best neighbourhoods to buy property in Dubai.
1. Palm Jumeirah
If you are well-off and can spend a fortune purchasing real estate property in Dubai, Palm Jumeirah Island should be ideal because you get everything you wish for in a neighbourhood. One of the most sophisticated artificial islands in the world includes facilities like apartments, luxury villas, stunning beachfront views, and excellent amenities.
You can get a luxurious house in Palm Jumeirah, even though it is expensive, the luxurious amenities make it worth your price. Besides the stunning sea views, Palm Jumeirah residents can enjoy the best shopping and entertainment experiences.
Main Drawback – Other than the pricing, Pam Jumeirah has no drawbacks.
2. Downtown Dubai
Dubai is a prominent tourist location, and thousands of visitors come every day to see iconic constructions like the Burj Khalifa. But if you wish to see the Burj Khalifa daily, you can purchase a property in Dubai Downtown. While the property rates are not as high as that of Palm Jumeirah, you get studio apartments and one/two-bedroom flats at better prices when compared with Palm Jumeirah.
Downtown Dubai is a highly urbanized area offering its residents world-class infrastructure and a comfortable lifestyle. Residents can enjoy visiting Downtown Dubai’s numerous commercial, retail, and hospitality establishments.
Main Drawback – Downtown Dubai is a hub of intense activity and experiences traffic snarls. So, if you detest traffic jams and crowded places, Dubai Downtown is not your ideal location.
3. International City
If you are uncomfortable with crowded places and heavy traffic, you can move eastwards and purchase your property in International City. This upcoming location near the intersection of Al Awir Road and Emirates Road covers a massive area of 800 hectares. International City offers a range of properties from luxury villas to townhouses and apartments.
You can witness Dubai’s cosmopolitan and diverse lifestyle at International City because of the significant expatriate population. The accommodation is affordable, and the rental values are attractive. International City offers easy access to other parts of Dubai.
Main Drawback – While Dubai is safe and secure, International City residents have complained of security issues. People traveling to work can experience travel constraints.
4. Business Bay
Business Bay, located adjacent to Dubai Canal and Downtown Dubai, is an ideal neighborhood if traveling from International City is challenging. Business Bay is one of the best neighbourhoods if you are looking for commercial properties, like offices, hotels, and retail spaces.
People desirous of purchasing residential houses can purchase penthouses and apartments at attractive prices. This neighbourhood saw the maximum purchase/sale transactions in 2022.
Main Drawback – The primary drawback is the heavy rush-hour traffic because Business Bay is a CBD and the nerve centre of Dubai.
5. Mina Rashid
Mina Rashid, an upcoming neighbourhood, and a perfect choice to invest in Dubai, with best returns. This neighbourhood should be perfect for nature-loving investors who wish to purchase houses away from the hustle and bustle of the city. This locality offers better facilities than International City. Hence, you have more people investing in this neighbourhood.
Spacious apartments and independent villas are available in Mina Rashid. This coastal neighbourhood has top-class amenities like fitness centres, parks, malls, walking paths, and breathtaking sea views. Families with children love the beautiful beaches in this area. It has a long marina with more than 500 berths and yachts.
Main Drawback – Since it is a developing area, it does not have many schools as of date. Parking space is also limited in this neighbourhood.
Dubai is an ideal location for investors wishing to purchase property according to their budget. Areas like Palm Jumeirah Island are ideally suited for the elite class. At the same time, budget locations like the upcoming Mina Rashid areas offer excellent amenities. We have discussed the five best neighbourhoods in Dubai to invest in property.
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