Options Galore in Dubai Property!

Dubai property scene is constantly under a state of flux. More and more people in Dubai property market are opting for their own roof over their heads, instead of renting property in Dubai. Overseas visitors are getting to experience the cosmopolitan culture here and are investing in Dubai property. Why is Dubai property selling like hot cakes? Quality lifestyle is one reason. And secondly, there is an abundance of options in Dubai property! It offers anything from studio apartments and individual villas to town houses and condominiums. A condominium or condo for short is a property type with individually owned units in a multi-unit development. In addition to these privately owned apartments, the common areas such as foyers, recreational areas and lawns are jointly owned by all the residents of the development. Dubai property market is flooded with condo options, more often condo hotels. Individual owners can put their unit to personal use or pool it with the hotel’s management team for rental. Condo hotels are one of the prominent Dubai property options available at present. They have close access to recreational facilities, theme parks, casinos, etc. These hotels have the potential to generate high rental yields for the owner in the Dubai property market. Rentals of up to 8 percent per year are guaranteed. An independent apartment in Dubai property market can range between 500,000 to 12,000,000 AED*. A studio apartment is a bachelor apartment with one large hall which is used as a living room, dining room and bedroom all rolled in one. Even the kitchen is usually a part of this room and the apartment is complete with a smaller room as a bathroom. The minimum price of a studio apartment in Dubai property market is 275,000 AED. It can go up to 500,000 AED. At the same time, a studio apartment in Dubai can be rented for about 400 AED a day. A villa is an upper class house which has its own compound. It is usually located in a countryside or sub-urban locality. The price of a villa starts at about 1,500,000 AED and can soar up to 20,000,000 AED in Dubai property market, depending upon the location and property area. Palm Islands, Dubai Land, Meadows and Arabian Ranches are some of the premium villa locations in the Dubai property matrix. A townhouse is an independent house usually in the urban area. There can be a group of town houses in a community. Each town house is individually owned by the buyer who also owns the land on which the house has been built. Buying a town house property in Dubai provides the luxury of having access to swimming pools, golf courses, private beaches and lush gardens. Dubai property industry offers these at a starting price of around 900,000 AED. Overseas investors, both individual and commercial, look upon Dubai property as a site to extend their investment portfolios with more promising returns than their respective home countries.

 

*AED: Emirati Dirham; 1 US Dollar = 3.67370 AED; 1 AED = Rs.11.10112