Apartments for Sale in City Walk Dubai
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About the area
City Walk is a project from the popular developer Meraas, located in the central part of the Jumeirah district. The community is located between Al Safa Road and Al Wasl Road, close to the main highway Sheikh Muhammed Bin Zayed Road, connecting not only the areas of Dubai but also the other emirates. City Walk’s location between the major popular beaches of the Gulf Coast and Downtown Dubai makes it attractive to visitors to the city. The Burj Khalifa skyscraper is visible from almost every corner of the area, and the community itself features both residential and commercial real estate as well as modern infrastructure: parks, promenade areas, playgrounds, sports halls and catering facilities.
Types of apartments for sale in City Walk
City Walk Collection consists of 34 mid-rise buildings offering 1, 2 and 3-bedroom apartments for sale. All residences have panoramic windows, and the complexes have facilities for a comfortable stay: children’s play areas, outdoor pools, gyms and parking. The minimum size of one-bedroom apartments is 23.7 square meters (255 square feet) in the Rove City Walk, which is currently under construction. In other developments the number of apartments ranges from 102 sq. m (1,100 sq. ft.) to 497 sq. m (5,350 sq. ft.).
Apartment prices in City Walk
In the residential complex Building 14 you can buy apartments with 1 bedroom sized 102 square meters (1100 sq. ft.) for AED 1,900,000 (USD 481.00). In another Building 7 you can buy more spacious one-bedroom apartments of 135 sq.m. (1453 sq ft.) at AED 2,250,000 (USD 570,000). City Walk two-bedroom apartments start at AED 2,590,000 (USD 656,000), while three-bedroom apartments with four bathrooms are available from AED 6,000,000 (USD 1,519,000).
City Walk is a new community, so there are properties for sale, both completed and apartment complexes under construction. The latter are of particular interest to investors because apartments purchased off-plan have a higher return on investment once the building is completed. The vibrancy of City Walk and its close proximity to the beach and attractions of Downtown Dubai ensure that tourists are interested in short-term rentals here.
One-bedroom apartments have a return on investment of 6.1%, two-bedroom apartments 5.3%, and three-bedroom apartments 4.8% when renting for the long term. Higher returns are expected for short term rentals. Buying apartments in the area of City Walk is available in the purchase of freehold (freehold status), which guarantees the full ownership of the property for foreign investors.