Apartments for Sale in Downtown Dubai

Traditional investment markets in European countries continue to be in demand among investors, but other countries’ markets can also be popular. One of these is Dubai. Investing in the real estate market is an attractive way to increase accumulated capital.

Due to the office location of the largest international banks in Dubai, it is recognized as a leading financial center in the Middle East and Africa. The city was included in the list of the best cities in the world for leisure and business development. There are many areas here with skyscrapers and developed infrastructure: Dubai Marina, Palm Jumeirah, and Emaar Beachfront. Special attention should be given to Downtown Dubai. Below we explore in detail what this area is famous for.

Downtown Dubai is the business and tourist city center with well-developed infrastructure. Commercial and residential real estate are concentrated here. In this area one can find the offices of international companies and foreign banks, large business centers, offices and co-working spaces. Additionally, Downtown is a developed tourist area, with an abundance of stores, shopping and entertainment centers, restaurants, beauty salons, and cafes, etc. Among the main attractions of the area are:

• Dubai Fountain – dancing fountains;
• Dubai Mall – the largest shopping and entertainment center in the world, which contains 1,200 shopping stores;
• Burj Khalifa – the tallest tower in the world. It is one of Dubai’s key attractions. The height of the tower reaches 828 m;
• Dubai Opera – Dubai’s Opera House;
• Dubai Aquarium – an oceanarium with an observation glass 50 m high and 20 m long;
• Dubai Ice Rink – an outdoor ice rink for skating;
• Reel Cinema – the largest cinema in the emirate with 22 screens.

In this area traditional Arabian architecture is perfectly combined with modern skyscrapers, and new technologies are contrasted with picturesque parks.

Purchasing real estate in Dubai is a great opportunity for a long-term investment. Such housing is suitable both for permanent residence in the emirate, as well as for letting. The most popular type of real estate are apartments. For example, the average yield from the lease of 1 bedroom apartments  in Downtown Dubai is 5.1%, the ROI for apartments with 2 bedrooms is 4.7%, and with 3 bedrooms – 4.3%.

As for the cost of real estate, for example, an apartment with 1 bedroom of 43 square meters in the Burj Al Nujoom will cost you AED 550,000 (USD 149,733), a similar property with 1 bedroom of 40 square meters in Claren Tower 2 will cost AED 725,000 (USD 197,375). The price of apartments in the vicinity of Burj Khalifa and Dubai Opera will be almost twice as high. For example, an apartment with 1 bedroom and an area of 84 sq.m. in BLVD Heights will cost AED 1,499,999 (USD 408,363), and a similar property in the Act Two Towers with 62 sq.m. will cost AED 1,249,878 (USD 340,269).

The average annual rent for a 1-bedroom apartment in Downtown Dubai is AED 77,000 (USD 20,962), a 2-bedroom will cost AED 122,000 (USD 33,213) per year, and a 3-bedroom will cost AED 196,000 (USD 53,359) per year.