Why Demand for Apartments for sale in Dubai has increased?
The Demand for Apartments for sale in Dubai Increased with the recent announcement of lowering the required investment amount for the Investor Visa and making the Golden Visa scheme more inclusive for expats has also contributed to a widening pool of prospective investors and buyers in Dubai. According to the Dubai Land Department’s published data, property sales for the months of July and August were the highest sales recorded for these months in the past 12 years.
While widespread consumer sentiment toward the need for bigger living spaces is still driving the demand for residential properties especially apartments for sale in Dubai, the lower down payments and easier payment installment plans have also contributed to the healthy market recovery. Besides that, the favorable mortgage rates have made Dubai real estate an attractive hub for investors interested in both off-plan and ready properties for sale.
Popular areas to invest in Apartments for sale in Dubai
Most of the people buying apartments in Dubai are interested in Dubai Marina, Jumeirah Village Circle, and Downtown Dubai that provide convenient access to family-friendly attractions and amenities. Other areas which are being popular this year for apartments for sale in Dubai are Arabian Ranches, Business Bay, Dubai Silicon Oasis, Jumeirah Lake Towers, and Palm Jumeirah. Popular affordable areas to buy apartments for sale in Dubai includes Jumeriah village circle, international city, Dubai sports city, and silicon oasis.
Price trends for Apartments for sale in Dubai
To find the most affordable apartments for sale in Dubai, one can look for apartments for sale in Jumeirah village circle, Dubai silicon oasis, Dubai sports city, and International City. A one-bedroom apartment price in Jumeirah Village circle starts from AED335,000 for a newly renovated one while the ROI here is 6.37% but the average sales price per square foot increased in Q3 this year. increased by 1.48%.
A 1 bedroom apartment for sale in Jumeirah lake tower is AED798,000 with an ROI of 6.65% while a one-bedroom apartment for sale in silicon oasis Dubai is AED476,000 and the ROI is 6.57%. Dubai sports city 1 bhk for sale starts from AED 479,000 with ROI Here is 6.92% and the best part is the price per square foot for apartments decreased here by 0.34%. The last but the most affordable one is an International city, one-bedroom apartment for sale in international city is around AED 319,000 with the highest ROI of 7.27%.
In luxury apartments for sale in the Dubai category, Dubai Marina continued to be attractive to potential investors and buyers. The waterfront community offers excellent ocean views, an abundance of attractions, and top-quality properties. For apartments for sale in Dubai Marina, the average price-per-square-foot has gone up by 5.25% in Q3 2021, Following the same upward trend for Marina, the prices for flats for sale in Dubai Marina have also increased, with the 1-bedroom flats now priced at AED 1.18M, while 2 and 3-bedroom apartments are averaging at AED 1.81M and AED 3.04M respectively.
The pretty Downtown Dubai known for its luxurious skyscrapers has taken the second spot when it comes to the most searched areas for luxury apartments for sale in Dubai. The well-connected district has shown good signs of recovery, with the average sales price per square foot for apartments rising by 6.45%. Investors looking to buy flats in Downtown Dubai can expect to pay around AED 1.53M for 1-beds, AED 3.04M for 2-beds, and AED 5M for 3-bed units.
Besides Dubai Marina and Downtown Dubai, prospective investors and buyers have also shown considerable interest in historically popular communities like Palm Jumeirah, Business Bay and Jumeirah Beach Residence (JBR). Based on Dubai property sales market report this year 2021, these areas have also seen their sales price-per-square-foot climb upwards between 3% and 7%.