Driven Properties LLC

Apartments For Sale in Dubai

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With its fast-growing cosmopolitan population, United Arab Emirates is home to the most stunning skyscrapers and apartment towers, immense shopping malls and exquisite boutiques, man-made islands, and world-class amenities for all tastes and demands. These are some of the reasons why the city attracts millions of visitors annually and is home to residents of over 200 nationalities. Other reasons Dubai is a popular location to invest in is due to the high return on investment (ROI) and being one of the safest cities around the world.

To meet the demand of the growing population, the UAE real estate market offers a great variety of houses for sale in Dubai, the affordable segment and the Dubai luxury homes, all available for locals and foreigners.

The first step when you want to buy a house in Dubai is to search for your desired property. Use our user-friendly property search box on Driven Properties, your best place for buying apartments in the most popular and convenient locations in the United Arab Emirates. We collect the very latest apartment deals from top verified developers and real estate agents. On our platform, you can find off-plan apartments in new development projects as well as resale options in popular localities includes: Dubai Marina apartments for sale, Downtown Dubai apartments for sale, Palm jumeirah apartments for sale, JBR apartments for sale and the apartments for sale in JVC.

Freehold vs Leasehold Property in Dubai

Dubai’s freehold market is divided into two categories, based on whether it is freehold property exclusively for UAE or GCC Nationals or if it is a freehold property that can also be purchased by an expat or foreign investor. With the freehold law being passed in 2002, foreign investors can buy Dubai properties in various freehold areas, which is very beneficial to foreign residents as it allows them to have complete ownership of the property. They can sell, lease, or live in the property and it can be inherited by an heir, and this is one of the major reasons why you should invest in Dubai is Freehold ownership.

Popular freehold areas for expats looking for apartments in Dubai for sale include Palm Jumeirah, Downtown Dubai and Dubai Marina. Those looking for affordable freehold apartments in Dubai can find them in Jumeirah Village Circle (JVC), Town Square, International City. Freehold areas popular with GCC and UAE Nationals include Deira, Al Qusais, Al Nahda. Silicon Oasis Dubai apartments for sale also a solid option to consider.

Leasehold properties, also referred to as long-term lease or usufruct properties are those sold on a leasehold basis, which is where the investor will be granted the rights of a property for a fixed term ranging from 10 to 99 years. Leasehold properties cannot be bought outright and must be leased from a UAE or GCC National landlord. When the lease expires for a leasehold property, the ownership of the purchased property is reverted back to the freeholder. Most areas that offer leasehold properties for expat ownership are those set up to be freehold areas for GCC and UAE Nationals only such as Deira and Dubai Silicon Oasis.

Types of Apartments in Dubai

Whether your search includes finding a luxurious home 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 necessary facilities, there are many different options to consider. you can find a property 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 projects for sale in Dubai to fit your needs, but 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 flats 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 access to 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 with prices 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 apartment 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 apartment for sale in Dubai covering a decent area and not feeling cramped.

Popular Areas to Buy Apartments in Dubai

Deciding the location is one of the most important aspects when looking for a new house as it involves, not only the environment around but also proximity to all the services and facilities that influence the quality of life one would have. Some of the most popular areas to buy apartments in Dubai consist of a mix of luxury and affordable neighborhoods. Luxury apartments for sale in Dubai are found in areas such as Palm Jumeirah, Downtown Dubai, Dubai Marina, The World Islands, Jumeirah Bay Island, and Jumeirah Beach Residence (JBR). Affordable communities with apartments for sale include Al Mamzar, Dubailand, International City, Liwan, and Town Square.

ROI for Apartments for Sale in Dubai

Dubai is known to offer healthy rental yields for those who choose to invest in the emirate. The highest ROI is offered in areas such as International City, Dubai Silicon Oasis (DSO), and Jumeirah Lake Towers (JLT). The ROI in International City is 9%, DSO offers a rental yield of 8.2% and JLT has an ROI of 7.9%. The Dubai apartments for sale in areas such as Downtown Dubai, Dubai Marina, and Palm Jumeirah all offer a good ROI of over 5.4%.

How to Buy an Apartment in Dubai?

Visit Driven Properties and browse through the area guides showing the different communities in Dubai. Then have a look at the transaction records to have an idea about what is popular or what the service charges are per community or per project, and other useful information that can help you make an informed decision on the apartment you want to buy. 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) which is 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. If an investor is considering getting a mortgage, then the respected banks will need to get involved.

What to Consider When Buying an Apartment 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’re not so 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.

Moreover, You can get help from our preferred partner Relocate me that offers comprehensive relocation services for corporates and expatriates relocating into the UAE. Including orientations of the city to help people familiarize themselves with different residential areas and attractions. Also, home search so they can find a property in a great residential area that fits their requirements, and school searches as well, because it’s very important when people relocate with a family they get their children into the right schools. 

FAQs:

How much does an apartment cost 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 and can go up to 6M in The World Islands. 2 BHK flats in Dubai can be bought for prices of 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 and 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 of the properties found in Downtown Dubai.

Can foreigners buy apartments in Dubai?

Foreigners of all nationalities can buy apartments in freehold areas in Dubai.

What is the most luxurious area in Dubai?

Luxury apartments are found in areas such as Palm Jumeirah, Downtown Dubai, Dubai Marina, The World Islands, Jumeirah Bay Island, and Jumeirah Beach Residence (JBR).

Is it good to invest in Dubai property?

The biggest benefits of investing in Dubai property include High Rental Yield, Great Return Over Investment, Steady Increase in Real Estate rates, Premium Amenities, Low Crime Rates, Transparent Regulations, Laws, etc.