Today I would like to share with you the top 2 trends in the Dubai Real Estate market as a result of Covid-19.
Number 1, there is definitely a growing trend for spacious real estate in general whether we are talking about apartments, townhouses or villas, people want more space today. We have also noticed that people who used to occupy apartments are now shifting into villas that offer them a garden or a swimming pool. Of course, all this seems to be the new norm to people and I think that this behavioural shift will be the new trend as the uncertainty around the quarantine continues to dominate the streets worldwide.
Number 2, there is definitely a growing demand from investors who want to generate passive income, who want to acquire and invest in properties that can create or generate rental income. All of this is under the pressure of Covid-19 and the disruption it caused to many businesses; many business owners are actually funding their businesses instead of generating money from their businesses. And real estate has proven its durability and long-term ability to generate passive income. Yes, prices have softened, it is not generating as much as it used to generate last year or the year before but it is still generating money while many other businesses are draining its business owners.
So, whether you are a real estate agent, a tenant of a buyer, I am about to share with you the best projects in Dubai. I will make sure to categories each project as per the budget so we are starting from the higher budget all the way to the lower budget. I also made sure that we have water-front projects as well as city projects.
So let us start with villas and townhouses, of course, you look at Palm Jumeirah as number 1, MBR or Mohammad Bin Rashid City, it offers also very spacious living as well as some of these villas, of course, are water-front, water-facing. You have Al Barari project that is very well-known for its finishing; you have the old phase and the new phase. But Al Barari is also very well-known for the amount of greenery and common areas that this master community has. So three of these projects have more or less the same budget.
If we go to a lower budget we are looking at Dubai Hills. And in Dubai Hills, of course, we have mansions of AED100 million-plus; I am talking more about the 3,4 and 5 bedroom villa and townhouses of Sidra and Maple. I think Dubai Hills has a brilliant future in Dubai if you choose the right units of course. Then we look at Mudon, it is a very mature community. You also have the villa project which is more or less the same style as Mudon. It offers very spacious villas, and of course Arabian Ranches.
And if you have to look at a lower budget whether for rent or for sale, of course, you would look at Town Square or some of the Akoya villas.
Let us explore the best projects that offer spacious apartments. If you have a high budget then you would look at Bulgari as it offers very spacious apartments that are also water-front. You also have the Bulgari Hotel right next to you. If you have a lower budget, then you would look at Bluewaters Island that also offers, of course, waterfront views. If you are looking at city-living then you are looking at city walk. And if you have a lower budget then you would look at Executive Towers in Business Bay. Again All of these projects offer both rent and sale options. You can also look here at Southridge in Downtown. If you still have a lower budget but still you want to live by the sea and you want to have the sea views as well as spacious apartment space definitely look at JBR.
So if you are an investor and your budget is AED500,000 or AED5 million or AED50,000,000 I think you have a variety of options in Dubai in today’s market. If you want to make the most out of today’s top reasons to buy: Number 1: Very low-interest rate if you want a mortgage, Number 2, I would say 6 or 7 years price low, and of course number 3 if you want a mortgage, banks are lending more than ever before.
Today you can get between 4 and 6.5 net rental income per annum if you are investing in the centre of Dubai. And as you go further away from the centre of Dubai, you will be looking at anywhere between I would say 7 to 8 or 9 percent per annum.
As most of you may know, at fam Properties we do not cover the whole of Dubai, we do not buy and sell in the whole of Dubai, we specialize in the master communities that we believe in our investors and hence we have built our reputation over the past 12 years.
So if you are a buyer or a tenant, looking for the best deal in town, get in touch with us. If you have any specific question about the real estate market in Dubai please do not hesitate to email me at [email protected] and I will make sure that I personally address your email and get in touch with you.