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The first thing foreigners who visit Dubai for the first time notice is the abundance of all kinds of active entertainment under the sun, be it cruises, skydiving, desert safaris, surfing, or other sports. Also, here you can go shopping in the largest mall in the world, taste local cuisine and visit cinemas, gardens, and aquariums. The combination of fantastic nature and developed infrastructure attracts foreign investors and expatriates. Therefore, in 2023, apartments in Palm Jumeirah for sale have become a trend in the Arab real estate market.
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The Palm Jumeirah is a man-made tree-shaped island and one of the safest places to invest in real estate in Dubai. It has been developed as a tourist attraction, so many restaurants, hotels, and clubs can be found in the area. Wealthy immigrants live here, and celebrities have a rest.
The area is next to Sheikh Zayed Road. Hence, its residents have access to the most visited places in Dubai, including the marina, Jebel Ali harbor, the Jumeirah Lake towers, and the Mall of Emirates. Palm Jumeirah is great for family living due to its well-developed infrastructure. There are 30 landscaped parks, many internationally recognized schools, hospitals, supermarkets, and gyms.
Dubai Marina is a popular residential area located on the azure blue coastline of the city. It is built with luxury penthouses, high-rise residential complexes, and many five-star restaurants and entertainment venues. Residents of the area have access to a convenient public transport system with modern trams, trains, and water taxis.
Property prices in Dubai Marina have been stable for several years, with an ROI (return on investment) of 6.4%. This suggests that the area offers profitable investment opportunities for foreigners and residents.
Business Bay is a hot trend in the Arab real estate market. The area is close to the bustling Downtown Dubai and plays an important role in transforming the city into a major business center. It consists of over 240 commercial and residential buildings.
Business Bay offers world-class amenities, including transportation, schools, malls, hospitals, parks, and more. Developed infrastructure combined with a dynamic lifestyle makes this area a great place to invest in real estate and move to permanent residence.
Is Buying an Apartment in Dubai a Good Investment Decision?
There is no better city for entrepreneurs interested in real estate investment than Dubai. The local market offers various options and opportunities, from high-end futuristic-style apartments to cozy townhouses with a compact layouts. Therefore, Dubai housing is in demand both among investors and ex-pats moving for permanent residence.
Demand and, accordingly, prices for apartments in Dubai are growing. Therefore, local real estate owners can receive a stable profit not only from renting out housing but also from its resale. The city offers a wide range of freehold zones from which foreigners can choose from options that provide the best return on investment.
When Is the Best Time to Buy Apartments in Dubai?
Consistently high ROI and rising Dubai real estate prices are the top 2 reasons why Arab and foreign entrepreneurs are interested in local apartments in 2023.
What Are the Prospects for Real Estate in Dubai?
The Reuters news agency surveyed analysts’ opinions in the real estate field, which 11 specialists attended. According to their forecasts, prices for residential properties in Dubai will increase by 5% during 2022. In 2023, the cost is expected to increase by 3%.
It is also projected to increase the rent of both residential and commercial space by 7-9%, and by the end of the first quarter of 2023, prices for elite properties should increase by 9-14%. New residents will be attracted by the high quality of real estate, living conditions in the UAE, and recent visa reforms.
Buying Apartments in Dubai
Choosing and buying an apartment in Dubai is best left to professionals who are well acquainted with the Arab real estate market. The AX CAPITAL team is the most competent in this matter. Agency clients can count on assistance with the following:
- selection of real estate suitable for investment;
- purchase, lease, or sale of residential and commercial properties;
- maintenance and management of real estate after the conclusion of the transaction;
- legal matters;
- opening a deposit account in Arab banks.