Buying a House in Dubai: Complete Guide for Property Investors & Homebuyers
Last modified on 1st February 2024. Dubai Real Estate Blog
- Types of Houses in Dubai
- 1. Villas
- Popular Areas to Buy Villas in Dubai
- 2. Townhouses
- Popular Areas to Buy Townhouses in Dubai
- 3. Penthouses
- 4. Apartments
- Guide to Buying a House in Dubai for Expats
- What to Consider When Buying a House in Dubai?
- Do I also Get Luxury Houses to Buy in Dubai?
- Which Areas of Dubai Do We Get Houses to Buy at a Cheap Cost?
- What is the Average House Price in Dubai?
Buying a house or any other real estate can be daunting for first-timers. You need to be aware of certain legal aspects linked to purchasing real estate, no matter where you are in the world. The same applies in Dubai. In addition, you need to look at what kind of real estate Dubai offers, the types of properties, the affordable locations, and the higher options. So let's look at everything from that perspective before buying a property in Dubai.
Types of Houses in Dubai
The Dubai villas for sale are available within all budgets, and buyers can choose from luxury villas for sale to cheap villas for sale in Dubai. The advantage of choosing a villa for sale in Dubai compared to an apartment is that you can redesign or expand quickly, enjoy the private garden and pool, have a better living experience, and get higher returns on investment.
Situated in beautiful residential communities in Dubai, the villas also make the perfect home to live with your family and raise your children. The villas for sale in Dubai come with excellent facilities, such as clubhouses, sports facilities, indoor and outdoor gyms, exquisite furnishing, modern equipment, and more. The villas in Dubai are also famous for their extravagant lifestyle and integrated community, which provides a great living experience for the residents. Another benefit of investing in one villa to buy in Dubai is its excellent resale value.
When the owners want to move to another country, they can easily sell off their off-plan villas due to the steady inflow of interested buyers and the development in the Dubai real estate market. If you want to buy villas in Dubai, you can invest in projects by well-known Developers to ensure that you get a good quality property.
Popular Areas to Buy Villas in Dubai
There are some great villa communities that buyers can consider for their purchase. The Dubai Hills Villas for sale is an excellent option due to the extravagant 18-hole golf course and the proximity to the central city. The Arabian Ranches villas for sale are preferred due to the premium rates giving it exclusivity, besides the connectivity to Sheikh Mohammed Bin Zayed road. The Palm Jumeirah villas for sale have spectacular views of the waterfront. On the other hand, the Emirates Hills villas for sale are well-known for their utmost privacy and palatial layouts. Buyers can also consider Damac Hills villas for sale thanks to their lush greenery and family-friendly atmosphere and Al Furjan villas for sale, located close to the Expo 2020 site.
Townhouses in Dubai, known as townhomes, are often confused with villas. However, the property type is slightly different and generally built in homogenous clusters or communities with shared facilities. In addition, townhouses typically share a boundary/wall, while villas are mostly standalone and independent. If you are looking for townhouses for sale in Dubai, you can choose between attached and semi-attached 1 to 5-bedroom units.
Investors can find a range of ready townhouses for sale in Dubai. If you want to move with your family, you can choose between 3, 4, and 5-bedroom units, some of which are triplex units. In addition, there is a wide range of 1 and 2-bedroom ready-to-move-in townhouses for sale in Dubai suitable to those searching for reasonable and affordable accommodation. These units are clusters and feature similar architectural styles with private gardens and parking spaces. One can also go for terraced units, priced higher than other units.
Investors also consider buying off-plan properties since these prices are comparatively lower and the chances of the property rising in value are high. However, off-plan townhouses will be under construction, so it is recommended that you buy from a trusted developer. The Valley, Tilal Al Ghaf, MAG Eye, Mohammed Bin Rashid City, Villanova in Dubailand, Dubai Hills townhouse, and Damac Hills townhouses are popular communities for off-plan townhouses.
There are two types of townhouses in Dubai based on the construction style. You can choose between attached and semi-attached units. Attached are townhouses that share a wall on both sides. Therefore, it does not disturb the privacy of residents. Still, those who like can go for semi-detached townhouses, meaning that the property is partly attached or shares a wall with another on one side. Semi-attached townhomes are mostly those built on corner plots.
Popular Areas to Buy Townhouses in Dubai
Arabian Ranches and Akoya Oxygen are two top areas to buy townhouses in Dubai. While Arabian Ranches is primarily acknowledged for luxury villas, the sub-communities of Palmera and Al Reem have an excellent range of townhomes. You can choose from 2-bed, 3-bed, and 4-bedroom units, ready units, and off-plan townhouses. If you are looking to live away from the rush of the mainland, Akoya Oxygen will be the right place for you. In addition, there are luxury townhouses in Just Cavalli and Aknan in various configurations, from 3-bed to 4-bed units. Other considerable options include JVC, Dubailand, and Mudon.
Penthouses in Dubai fall into a significant sector in the real estate market in the UAE because more and more people are willing to purchase luxurious housing in this financial, business, and tourism hub. Nationals of different countries can buy penthouses in specially designed freehold areas in Dubai. They can also apply for a mortgage loan to become a penthouse owner in one of the iconic development projects in Dubai.
Most elite penthouses in Dubai are offered in prestigious city areas, such as Dubai Marina, Jumeirah, and Downtown. However, you can also find great options in other neighborhoods of Dubai. Many foreign investors choose a penthouse in Dubai as a profitable investment option. This type of real estate in the UAE ensures one of the highest rental yields. Another way to profit from investing in a penthouse is to resell it after a couple of years, as property prices are constantly growing. This can be a great investment solution, especially when you buy an off-plan penthouse, as it allows you to resell the property at a price much higher than the original one.
Whether searching for a luxurious apartment for sale that meets all the needs of modern life with a hint of opulence and indulgence or finding a comfortable, warm apartment of an affordable price in an upscale neighborhood that provides the necessary facilities. There are many different options to consider. You can find an apartment for sale in Dubai communities that can be compatible with what you need, whether you're a tenant or an investor.
You will find plenty of ready properties for sale in Dubai to fit your needs. Still, if you are willing to wait for the handover and own, in return, a top-notch apartment with a good deal in terms of price, investors can choose to look at off-plan properties in Dubai. Off-plan units are generally sold directly from the developer before they are even built, typically on a payment plan. Popular areas with off-plan properties include Downtown Dubai, Akoya Oxygen, Meydan City, and Mohammed Bin Rashid City.
Dubai's apartments benefit from top municipal facilities, and many have access to markets and roadways nearby. The apartments in Dubai for sale range from studio to 5-bedroom units, ranging from AED 160k to AED 58M. While the studio flats for sale in Dubai are preferred by singles and couples, those with a bit more budget can buy the 2 bedroom apartment for sale in Dubai. You can even get some great 3-bedroom apartments for sale in Dubai in skyscrapers across the city. Since lack of space hasn't been a big issue, you can expect to find some 4-bedroom apartments for sale in Dubai covering a decent area and not feeling cramped.
Guide to Buying a House in Dubai for Expats
Visit Driven Properties and browse through the area guides showing the different communities in Dubai. Then look at the transaction records to know what is popular or the service charges per community or project. Other helpful information can help you decide on the apartment you want to buy. In addition, the filters on Driven Properties help to tailor the selection according to your requirements.
Once you have selected an apartment to invest in and spoken to the seller, the next step is for the buyer and seller to agree on the terms of the sale through a Memorandum of Understanding (MOU) signed by both parties. When signing an MOU, the buyer has to pay a deposit for the property, which is generally calculated to be 5% to 25% of the property value. Then a No Objection Certificate (NOC) needs to be issued from the developer, after which the Dubai Land Department (DLD) will transfer the ownership. Finally, the respected banks must get involved if an investor considers getting a mortgage.
What to Consider When Buying a House in Dubai?
There are many things to think about when considering buying a new home. Especially if you're planning to buy an apartment in a new city that you need to become more familiar with or even if it's your first home. The things revolve mainly around the location, size, services and facilities, price, and most importantly, ready or off-plan properties.
Do I also Get Luxury Houses to Buy in Dubai?
Which Areas of Dubai Do We Get Houses to Buy at a Cheap Cost?
The average entry level in Dubai for a property is about AED300,000-350,000. Even lower than 300,000, you can buy an International City studio closer to AED260,000-270,000. So USD 100,000 is the kind of average entry-level in Dubai.
What is the Average House Price in Dubai?
Dubai apartments vary between studio units priced from AED 160k to AED 2.1M, with the higher-priced units found in areas such as Palm Jumeirah and The World Islands. 1-bedroom flats for sale in Dubai cost upwards of AED 239k in neighborhoods like Dubailand. They can go up to 6M in The World Islands. 2 BHK flats in Dubai can be bought for over AED 440k in communities such as Liwan and AED 720k in Dubai Marina.
The 3-bed Dubai apartments for sale are generally priced above AED 680k in Dubai Silicon Oasis. They can go all the way up to AED 58M in Palm Jumeirah. The highest price for a 4-bed flat for sale in Dubai is AED 37M in Business Bay. 5-bedroom apartments in Dubai range from AED 2.1M to AED 45M, with many properties in Downtown Dubai.
For more info on UAE real estate, stay tuned to Driven Properties.
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