For those interested in buying an apartment in Dubai Marina, the average cost for a studio is AED 600 000 (USD 164 000), while the price for one-bedroom apartment starts at AED 950 000 (USD 259 000). The prices of villas vary from AED 2 200 000 to AED 15 000 000, or from USD 599 000 to USD 4 084 000.
Some of the popular projects for buying property in Dubai Marina are Escan Marina Tower and Mag 218 Tower.
Escan Marina Tower is one of the finest modern buildings in the area. The building comprises 32 storeys with the total of 397 residential units, which include studios and apartments with one to three bedrooms, and a four-storeyed underground parking. Property prices start at AED 550 000, USD 150 000.
Mag 218 Tower is a 66-storeyed tower featuring 555 non-proprietary residential units that include 2-3-bedroom apartments. The tower houses several retail outlets, seven floors of parking spaces, a health club, a public event hall, and easy access to public transport. The price of the property in Mag 218 Tower starts from AED 1 000 000, USD 273 000.
Dubai Marina is a carefully planned community located in the southwest part of the city and developed by Emaar Properties, a company that has transformed the coastline of the Persian Gulf into a modern district of 52 743 161 sq. ft. Property in Dubai Marina includes hotels and more than 200 residential buildings, such as 23 Marina Tower, which is 88 storeys high, the 84-storeyed Ocean Heights Tower and Princess Tower, the world’s second tallest building with 101 storeys of residential properties.
Dubai Marina is one of the most fast-developing and prestigious areas in Dubai, which is considered to be both residential and resort destination. The distinctive feature of Dubai Marina is a large canal, more than 11 482 ft long, with access to the sea from both ends. There are numerous restaurants and cafes along the waterfront, as well as walking, cycling and jogging areas. The community also features its own marina and Dubai Marina Mall, a shopping center with over 130 shops, a 6-screen Reel Cinemas, a variety of hotels and entertainment venues.
The average annual rental cost for studios in Dubai Marina is AED 42 500 (USD 11 600), and for one-bedroom apartments around AED 60 000 (USD 16 300). Those looking for a more spacious accommodation may consider renting a two-bedroom apartment. Their cost starts at an average of AED 90 000 per year (USD 24 000). For villas in the Dubai Marina area, there are 2 to 6 bedroom homes ranging from 2443 sq. ft to 9590 sq. ft, located at the podium level of the apartment buildings. Rental prices vary from AED 120 000 to AED 420 000 or USD 33 000 to USD 115 000 per year.
For example, at Marina Diamond 5, one can rent a fully-furnished and ready-to-move-in studio for AED 48 000 (USD 13 000) per year. The rental price for one-bedroom apartments at Marina Gate 2 ranges from AED 75 000 (USD 21 000) to AED 90 000 (USD 25 000) per year. In case you are interested in more spacious real estate options, a two-level penthouse with four bedrooms and a total area of 3573 sq. ft in Marina View can be rented for AED 150 000 (USD 41 000) per year. All buildings are in close proximity to the metro stations, tram stops, as well as beaches and shops.
One of the biggest advantages of living in Dubai Marina is its convenient location. It has easy access to Al Sufouh Rd and Sheikh Zayed Rd, which connects all seven emirates. Dubai Marina is also in close proximity to Jumeirah Lakes Towers, Dubai Media City, Barsha Heights, JBR, Palm Jumeirah, Dubai Internet City and Dubai International Financial Center (DIFC), which are located 10-20 minutes away by car.
On the other hand, Dubai Marina lacks schools immediately within the community. However, there are several educational institutions nearby, in the neighboring areas of Al Sufouh, Umm Suqeim, Al Barsha and Springs. Most of the schools are located within 15 minutes’ drive and offer Indian, British and American curricula. At the same time, parents with young children will be happy to know that there are many kindergartens within walking distance inside and outside Dubai Marina.
The comfort of living in Dubai Marina lies in the ease of movement by private car or public transport. In most cases, buying or renting real estate in Dubai provides with parking spaces. If there is no private parking, one can always use the public parking service. Most of the car parks features one-hour parking free of charge.
There are two metro stations (red line) close to the community, Dubai Marina (formerly DAMAC Metro Station) and DMCC, which provide easy access to any part of the city. There are also many bus stops and a tram line that runs between hotels, Dubai Marina Mall, The Beach at JBR and the nearby metro station. The tram makes it easy to get to Palm Jumeirah Station and then hop on the monorail to visit the Aquaventure Waterpark and The Lost Chambers Aquarium.
A road to Dubai International Airport and Al Maktoum International Airport will take approximately 30 minutes by car.
Pier 7, a 7-storeyed complex of the best restaurants in the world, is a 5-minute walk from Dubai Marina Yacht Club and 15 minutes from Dubai Marina Mall. There are also several branches of ZOOM Convenience Stores, Waitrose, West Zone Fresh Supermarket throughout the area.
In terms of healthcare, Dubai Marina is in a 5-10 minutes’ walk from Medcare Medical Center (JBR) and the Emirates Hospitals Clinic. In case of emergency, Al Zahra Hospital is located close to Al Barsha sub-community.
The 22,965-feet-long Dubai Marina Walk offers residents an excellent outdoor area for long walks, evening jogging or cycling. A large number of gyms, health clubs, spas, shops and restaurants are concentrated around the marina, while public pools and recreation areas provide open space for relaxation and exercise. Also, several social events are held here throughout the year, including the ones for children, and an open-air handicraft markets are held during the winter.
Furthermore, The Beach at JBR and Marina Beach offer a wide range of entertainment for any audience. For example, visitors could do water sports, parasailing, banana boating and wakeboarding, or even rent a boat or a yacht, or go to ferry excursions.
It is worth noting that in 2017, XLine, the longest urban zipline in the world, was opened in Dubai Marina. It is an incredible ride for thrill seekers. It starts from the launch pad, located at the top of Amwaj Towers, at an altitude of 557 ft, and ends on the other side of the canal, on the roof of Dubai Marina Mall. The attraction is open daily and all year round, and is designed for extreme sports enthusiasts, since the speed of the flight over the water reaches almost 50 miles per hour.
According to the latest Dubai property market reports, Dubai Marina continues to be one of the most popular places to buy and rent property in Dubai over the years. Thanks to the variety of low-cost and luxury real estate, buyers and tenants have the opportunity to choose the most suitable type of the property: studios, apartments, penthouses, podium villas or even entire buildings.
The highest annual income is offered by studios and one-bedroom apartments – 6.4% and 6.2% respectively. This is followed by two- and three-bedroom apartments with a return on investment of 5.7% and 5.3% respectively. For more spacious 4-5-bedroom apartments the annual income can be up to 4.5%.
It is worth noting that many buyers prefer to invest in small properties, such as studios, one-bedroom apartments or hotel apartments in Dubai Marina. This type of real estate is considered to be the most profitable if you are planning to purchase a property for further leasing, especially since Dubai Marina is located in 30 minutes’ drive from the World Expo 2020 exhibition site.
When considering the purchase of villas or townhouses, the return on investment is exactly the opposite of studios and apartments: the more rooms, the higher the income. Thus, a house with five bedrooms tops the list in terms of profitability of 5.2% per annum, four-bedroom units yield 4.2%, while two- and three-bedroom units generate 3.2% and 4.1% respectively.
N.B. According to DLD, as of February 2021, there are more than 95 000 housing units under construction throughout Dubai, of which 5 781 are in Dubai Marina. Moreover, the community is ranked third in the top five areas for buying off-plan real estate, and also took the first place for ready property.
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