Prominent Yet Affordable Areas to Buy an Apartment in Dubai

[domabozo]

Hi

I am considering to buy 1 BR in Dubai , I know that prices are falling which may mark two sides of the same coin ( Good time to buy VS risk of further price drop ) . However I need to buy and sure on the long run it will be a good idea considering the city development plans linked to Expo 2020

I am asking which areas you think may be prominent and good candidate for a good future appreciation .

For example , if you know some areas which the metro will reach there before 2020 ... this may be a great choice


My Budget is 650 k for small 1 BR . This budget can get me in :

1- Sports City
2- Discovery Gardens
3- JV
4- Silicon Oasis


I am open to new recommendations and want your opinion in the existing ones

 

[philipsmithdxb]

Hi,

I am not a broker in Dubai but I do have some knowledge of the market here.

It is certainly a buyer's market in Dubai now. Things have slowed considerably here since the end of last year and sale prices have come down as well so it is now a good time to consider buying. There are many options depending on what you hope to achieve.

Rental returns in Dubai can be very good. Areas such as JVC, IMPZ, Sports City, International City, Discovery Gdns are all good for rental yields, often reaching 8-10%. JVC, IMPZ and Sports City in particular are great areas to invest in as the prices are much more affordable than the Marina, JLT etc and they are developing areas. Many people are relocating there because they get more for their money. There is still a lot of construction going on but there has been huge improvements since i have been here (3 years). There are now bus stops, shops, parks etc operating. IMPZ also now has a City Centre Mall being built that will only add to the area and prices. There is also much greater access to these areas with new roads, bus routes and proposed metro plans. If you are looking for good rental returns and appreciation leading up to Expo 2020, these are great options for you. Studios or 1 beds are prob your best bet as they rent quickly, at high returns and are easier to sell further down the line.

I hope this helps.