Dubai has it all; vibrant city hotspots, professional business hubs and landscaped communities but what do you prefer?
According to the Allsopp & Allsopp Quarter 1 report, Palm Jumeirah and Dubai Marina do, indeed sit on the top of the pile for communities most desired in Dubai.
The city is renowned for its high-end luxury lifestyle and there is no doubt that the Palm Jumeirah, Dubai Marina, Downtown and other fast paced communities offer residents an eclectic array of activities, restaurants and an inviting atmosphere which make these areas the most sought after.
As a result, residents tend to overlook the villa communities which are settled a little further afield but interest in these communities is growing.
In 2019 Allsopp & Allsopp have seen an increase in tenant and buyer registrations in areas such as Jumeirah Golf Estates, Damac Hills and Mira compared to January – June of 2018. Buyer registrations have been on the rise. In Jumeirah Golf Estates registration has risen by 83%, Damac Hills has increased by 81% and Mira has seen a rise of 88%.
Dubai is continuing to flourish and mature and as this is happening more and more developers are moving in-land with their projects. Communities such as Damac Hills, Townsquare and Mira are all very popular areas with expats across the city. Not only are they more modern, but they are more often than not, at a better price point than Emirates Living, Dubai Marina and communities closer to the city hotspots.
The developments on the outskirts of the city are still evolving and adding shopping malls, restaurants and other attractions to make them just as appealing as the inner-city areas without the hustle and bustle.
Transport will play a huge part in making the decision to live further afield. Although not entirely essential it is highly beneficial to have a car. Many suburban areas do not have public transport links and residents without their own car find themselves relying on taxis to get them to and from work and inner-city visits – even to pop to the supermarket.
If you have a car and are willing to drive that little bit further to get to work, then perhaps the outskirts could be a viable choice of residence.
A 1,557 square foot 2-bedroom apartment in Dubai Marina’s Silverene Tower with a Marina view is AED2.7 million ($735k) whereas a 1,769 square foot 2-bedroom apartment in Damac Hills with a full golf course view is AED1.3 million ($354k). A difference of AED1.4 million ($381k) and the apartment in Damac Hills is more modern and larger.
Another reason to start looking a little further afield for a property is the pull of a villa with its own outdoor space, greenery and landscaped surroundings. At Allsopp & Allsopp we are seeing many more young families biting the bullet and choosing villa life. Although apartments in the city are amazing and often very practical with children, young families are relocating to areas with more of a community feel, for schools and nursery’s and for more of a relaxed lifestyle.
Redwood Park in Jumeirah Golf Estates is offering buyers to move in after paying only 10% then buyers are expected to pay a further 10% in 12 months’ time and 5% of transfer of the property in 18 months before the buyer will need a mortgage. This is inclusive of all Dubai Land Department fees. There are a number of developers offering attractive payment plans to encourage buyers to invest.
Furthermore, the pricing points of an apartment in Downtown vs a townhouse in a suburban community is quite significant. A 2,100 square foot 3-bedroom plus maids’ apartment in The Lofts, Downtown with a Burj Khalifa view is AED3.75 million ($1.02m) compared to a 2,562 square foot 3 bedroom plus maids plus study in Mira Oasis 1 is AED1.6 million ($436k). An incredible AED2.15 million ($586k) difference in price. Downtown offers a central location, bustling atmosphere and a view of the Burj Khalifa but, on the other hand you can certainly get more house for your money in Mira.