Apartments For Sale In Dubai

THE MOST POPULAR AREAS TO BUY APARTMENTS IN DUBAI

In 2024, the price to purchase apartments in Dubai increased compared to the previous year.  The most popular areas to buy apartments in the city are the following: 

• Business Bay 

• Downtown Dubai 

• Dubai Marina 

• Jumeirah Village Circle 

• Palm Jumeirah

According to data from Property Finder, the average price per square foot for apartments increased by 13.6% in Q1 2024 compared to Q1 2023. In detail, the average sales price per square foot for a one-bedroom apartment in the most popular areas rose from AED 1,422 in Q1 2023 to AED 1,623 in Q1 2024. 

DUBAI APARTMENTS AND FLATS FOR SALE

Dubai offers many apartments for sale. These apartments often feature world-class amenities and an unparalleled lifestyle, from pristine beaches and luxurious resorts to championship golf courses.

Whether you’re looking to invest or live in a Dubai property, many apartments in the city will suit your needs. 

ADVANTAGES OF LIVING IN DUBAI

There are many advantages to living in Dubai, including its thriving economy, safety, and reliability. Dubai strongly focuses on tourism, trade, and innovation, which boosts its economy. The city also has low crime rates and a politically stable environment — making it a safe environment for families. Finally, it boasts world-class infrastructure, such as excellent transportation, communication, and utilities.

Dubai offers significant advantages and benefits for purchasing property in the city, whether you are a UAE/GCC resident or a foreigner. 

• Property Yields: Dubai has 8-11% property yields as per 2024 data. Meanwhile, the global average ranges between 3-5%, with major cities reaching 6-7%.
• Minimal Property Taxes: Dubai has one of the lowest rates of property fees in the world, making it one of the most affordable cities for property investments.
• Freehold or Leasehold Ownership: As a foreigner, gain complete ownership of a freehold property or ownership for a fixed time (usually 99 years) of a leasehold property.

DISCOVER THE APARTMENTS AND FLATS FOR SALE IN DUBAI

Browse Driven Properties listings to find apartments for sale in Dubai. We provide thousands of listings at any given moment. 

Contact one of our reputable brokers to guide you through the purchasing process. Get on your journey to acquiring your new Dubai property today!

TYPES OF APARTMENTS AVAILABLE FOR SALE IN DUBAI

There are various apartments for sale in Dubai, ranging from studios, 1-2 bedroom apartments, or 3-4 bedroom penthouses, and more.  Among those options, some of the common ones are:

• Off-Plan: Discounted apartments you buy before they're built.

• Ready: Move in right away, but expect to pay a premium.

• Duplex: Two-story apartments offering more space and a house-like feel.

• Penthouse: Luxury top-floor apartments with stunning views and premium features.

Driven Properties can guide you through the various sorts of apartments in Dubai. With thousands of listings and skilled brokers, we can help you discover the perfect apartment.

SALE TRENDS OF APARTMENTS AND FLATS IN DUBAI

According to data from ValuStrat, Dubai’s apartment market — which contributes to 85% of homes in Dubai — is on a positive momentum in 2024. This momentum is particularly evident in the middle and low segments of the market.

The ValuStrat Price Index covering Dubai’s apartment capital values accelerated to a record annual increase of 15% by the end of 2024. In detail, the best apartment performance compared to the same period last year was the following:

• Discovery Gardens with a 26.4% increase 

• Palm Jumeirah with a 25.4% increase

• The Greens with a 24.3% increase 

• Motor City with a 20.7% increase 

• Town Square with a 19.5% increase 

ROI FOR APARTMENTS FOR SALE IN DUBAI

Dubai’s property market surpasses the majority of global markets in terms of rental yields for apartments. The global average for apartment rental yields typically range between 3-5%, while major cities might reach 6-7%.

The following areas in Dubai boast significant yields in 2024. 

DIP, Discovery Gardens, and Liwan boast rental yields of up to 11% — double the global average of rental yields. 

Dubai Sports City, Dubai Silicon Oasis, and Motor City offer rental yields of up to 10%. 

Greens Community, Al Sufouh, and DAMAC Hills have yields exceeding 8%. 

WHY BUY AN APARTMENT FROM DRIVEN PROPERTIES?

Purchase a Dubai apartment with Driven Properties and partner with one of the city’s most reliable brokers. We offer over a decade of success for our clients, thousands of listings at any given time, and unique unlisted properties for VIP clients. 

HOW TO BUY AN APARTMENT IN DUBAI?

Here is a step-by-step guide to purchasing a Dubai apartment with Driven Properties. 

• Visit the Driven Properties website.
• Browse through Driven Properties’ extensive property listings.
• Choose your ideal property.
• Contact one of our reputable real estate agents.
• Communicate with the property seller.
• Sign the Real Estate Sale Agreement and pay a deposit.
• Apply for a No Objection Certificate (NOC).
• Submit the required documents to complete the ownership transfer.
• Receive your title deed.

WHAT TO CONSIDER WHEN BUYING AN APARTMENT IN DUBAI?

• Budget: Determine your acceptable pricing range while accounting for any extra expenses.
• Location: Choose your preferred area in Dubai based on factors such as work proximity, desired amenities, and lifestyle.
• Preferred apartment type: Consider how many bedrooms and bathrooms you require, whether you prefer a ready or off-plan apartment, and whether a duplex or penthouse plan appeals to you.

Allow Driven Properties to help you find your next ideal property in Dubai. 

COST OF APARTMENTS AND FLATS IN DUBAI 

If you’re looking to purchase an apartment in Dubai, it will cost you around hundreds of thousands to millions depending on your desired unit. In general, lower-end apartments can cost you around AED 350,000. Meanwhile, if you’re looking for higher-end luxury apartments, those can cost you at least AED 1,000,000 upwards to AED 8,000,000.

Cheap apartments in Dubai can start from around AED 350,000 to AED 1,300,000.

Affordable apartments in Dubai can start from around AED 500,000 to AED 2,500,000. 

Luxury Apartments in Dubai can start from around AED 1,000,000 to AED 8,000,000

At Driven Properties, we can assist you in finding the ideal unit within your price range. 

APARTMENTS AND FLATS FOR SALE IN DUBAI FAQ:

IS NOW A GOOD TIME TO PURCHASE APARTMENTS IN DUBAI?

2024 is a great time to purchase apartments in Dubai. There are many new upcoming developments, such as Dubai Islands, Al Maktoum International Airport, Dubai Creek Harbour, and more.

The real estate market is also on an upward trend, breaking transactional records every month. 

WHAT IS THE AVERAGE COST PER SQUARE FOOT FOR AN APARTMENT IN DUBAI?

As of 2024, the average cost per square foot for apartments is AED 1,285. 

WHO IS ELIGIBLE TO BUY AN APARTMENT IN DUBAI?

Dubai has open property ownership laws. As a result, the eligibility criteria to own a property in the city are fairly straightforward.

No nationality restrictions: UAE/GCC residents can purchase property anywhere in Dubai; meanwhile, foreigners can purchase property in designated freehold or leasehold areas.  

No age restrictions: There is no age limit to purchase a property in Dubai.  

No minimum salary requirements: There is no salary requirement to purchase a property in Dubai. 

While Dubai’s ownership laws are open, other aspects such as securing financing might still involve additional criteria set by your respective banks. 

WHAT ADDITIONAL FEES ARE ASSOCIATED WITH BUYING AN APARTMENT IN DUBAI?

Aside from the payment related to the property, there are also additional fees to consider when purchasing an apartment in Dubai.

Government Fees 

Agency Fees 

Mortgage Fees 

Insurance Fees 

Transfer Fees 

Maintenance Fees 

DEWA Fees 

ISTA 

Legal and Documentation Fees

Contact us at Driven Properties and one of our expert brokers will guide you through the property purchasing journey. Alternatively, you can visit our blog here. 

CAN I PURCHASE DUBAI APARTMENTS THROUGH A RENT-TO-OWN PROGRAM?

Yes! The Dubai Land Department (DLD) launched a rent-to-own service that allows tenants to rent a unit for a set amount of time before owning it. The rentals paid are considered the unit’s down payment. 

ARE FOREIGNERS ALLOWED TO BUY APARTMENTS IN DUBAI?

Foreigners are allowed to purchase apartments in Dubai provided that the properties are in designated freehold or leasehold areas.

Freehold Ownership: When a foreigner has freehold property ownership, this means they have complete control over the property and the land it’s built on. They can sell, rent, or pass it on to heirs. 

Leasehold Ownership: When a foreigner has a leasehold ownership, this means for a fixed term (usually 99 years), they have complete control over the property but not the land it’s built on. At the end of the lease period, the freeholder receives the property ownership. 

WHICH AREA IS CONSIDERED THE MOST LUXURIOUS IN DUBAI?

To find the most luxurious Dubai properties, search in the following areas:

Palm Jumeirah 

Jumeirah Bay Island 

Downtown Dubai 

Tilal Al Ghaf

Dubai Hills Estate

Contact Driven Properties for tailored answers and recommendations.

IS INVESTING IN DUBAI PROPERTY A GOOD IDEA?

Dubai is a great location for real estate investments. This is because of Dubai’s many opportunities, its real estate market, luxurious amenities, and government support.

Among Dubai’s opportunities include its strategic location in the Middle East, thriving economy, low crime rates, and political stability.

Its real estate market is also one of the most impressive in the world. Dubai is one of the most affordable cities for real estate investments and it also boasts high property yields.

Dubai has many luxurious amenities and infrastructure whether you’re looking for world-class resorts, family-friendly attractions, or a vibrant cultural scene.

Finally, the government has various initiatives that support investors. These include the Golden Visa via real estate investment and freehold and leasehold properties.