In some countries, the real estate market is either booming or underperforming, but the Dubai real estate market, despite the opposing market dynamics, withstands the odds, ensuring a good return on property Investment in Dubai. To invest in the Dubai property market in 2024 is the investment goal of global property investors.
Past Real Estate Investment in Dubai and its performance
Back in the year 2008, Dubai’s economy faced a massive crash, and Dubai’s real estate market took the maximum heat. The 2008 global financial crisis also contributed to the Dubai housing crash in 2009, and the pandemic outbreak-related economic slowdown in 2019–2020 was the third.
Back then, residential property prices in Dubai fell by 40% in the first three months of 2009, thus following the crash scenario or the condition of low return on property Investment in Dubai as similar to 2008.
But the fact that surprises the world is the pace at which Dubai’s economy progressed, especially Dubai’s real estate sector.
This city in the UAE took the hardest hits and overcame them all, and it presently positions itself as the best real estate market in the world. The top real estate developers choose revenue-generating locations for their projects, and investing in Dubai fetches them a good return.
Commercial and Residential Property Investment in Dubai
The Dubai real estate market is the first choice of global property investors, as this jewel city of the UAE has exceptional infrastructure, communities, and locations, satisfying residential and commercial property needs.
The government policies encourage foreign investors to invest in Dubai and lay out easy procedures, making it easy for investors to buy Dubai Properties. Property investors enjoy tax-friendly norms here and are able to make good profits on their Dubai property investments.
Dubai’s regulatory framework facilitates a transparent and secure mechanism, safeguarding the interests of international property buyers. The towering skyscrapers, world-class luxury hotels, and high-class lifestyle make Dubai the best place for real estate investment.
The current growth of Dubai’s real estate market and its pace towards development lure real estate Investment in Dubai.
Best 10 Areas for Investment in Dubai
Dubai never fails to amaze the world with its infrastructure marvels that spreads across the city, sealing fantastic architectural designs for commercial and residential structures. Across the City of Gold, some of the best Areas for Property Investment in Dubai is Dubai itself, followed by other emirates like Abu Dhabi, Sharjah, Ras Al Khaimah, and others.
The city is ready for the upcoming Dubai Expo 2024 and many other events, especially the real estate events that seek the attention of global real estate investors who are actively looking to invest in Dubai’s prime area properties.
Although all the areas have their own beauty and eminence, and all locations are best for investing in Dubai. But for the best knowledge of the readers and interested investors HJ Real Estates uncovers the top 10 areas for Real Estate Investment in Dubai that promises to offer handsome returns in the coming years.
1. Jumeirah Village Circle (JVC)
Developed by Nakheel, Jumeirah Village Circle is an outstanding place in Dubai and the most preferred property investment destination. Located amidst gardens, it prides itself on having a range of family-type residential properties and amenities and is listed as the best place for Real Estate Investment in Dubai.
JVC is the most prominent location and the best area in Dubai for investment in real estate for home buyers looking to buy residential units that feature luxury at competitive prices. This area has affordable apartments and villas in Dubai that suit the property requirements of commercial investors and families.
It is an urban development area that focuses on village settings. The popular sub-communities in JVC are Seasons Community, Diamond Views, Hanover Square, Bloom Towers, and Reef Residence. Dubai Marina and JBR are also famous destinations here that are within a 20-minute drive.
The residents here have easy transport connectivity as The Gardens Metro Station and Al Furjan Metro Station are near JVC, making this area the most preferred place for investment in property in Dubai.
The average rental and sales price of an apartment in JVC is as follows:
| Floors | Average Rental | Sales Price |
| Studio | AED 36,000 | AED 454,000 |
| 1 BR | AED 51,000 | AED 729,000 |
| 2 BR | AED 72,000 | AED 1,119,000 |
| 3 BR | AED 110,0001 | AED 480,000 |
| 4 BR | AED 140,000 | AED 3,836,000 |
The average rental price of 1BR-4BR villas ranges from AED 87,000 to 153,000, and the average sales price from AED 1,235,000 to 2,395,000.
JVC is among the best place to invest in Dubai for families and foreign investors.
2. Dubai South
Dubai South is among one of the best places to invest in Dubai for property investment and is identified for its logistics and aviation ecosystem. It is popularized as the global transport hub and a vital contributor to the economic development of Dubai, raising the demand for this place in the international property market.
For the unversed apart from its sophisticated logistics, it is also a popular place for real estate investment, comprising types of properties that suit varied lifestyles. Its business-friendly free zone lures start-ups, attracting commercial set-ups, and its perimeters provide an excellent living environment suitable for residential investors, making it the preferred location for property investment in Dubai.
The average sales and rental price of an apartment in Dubai South is:
| Floors | Average sales | Rental price |
| Studio | AED 445,000 | AED 34,000 |
| 1 BR | AED 644,000 | AED 43,000 |
| 2 BR | AED 1,008,000 | AED 58,000 |
| 3 BR | AED 1,893,000 | AED 103,000 |
| 4 BR | AED 3,173,000 | AED 136,000 |
The sales price of villas in Dubai South for 2BR starts at AED 1,567,000, 3BR at 2,313,000, 4BR at 3,177,000, 5BR at 4,152,000, and 6BR at 12,177,000. The rental price of 2-4BR villas ranges from AED 100,000 to 142,000.
3. Downtown Jebel Ali
Downtown Jabel Ali is located amid the Jabel Ali Free Zone and Techno Park, massing around 200,000 residential properties and covering an area of around 6.5 million square meters. It offers properties installed with advanced home technology, superior architecture, and modern amenities.
The places within a 40-minute drive here are: Dubai Mall, the Mall of Emirates, Dubai Marina Mall, and Jabel Ali Beach is just 22 minutes away. This area is known to have the best commercial spaces, especially warehouses, which cost above AED 2 million.
The average selling price of a studio apartment starts at AED 360,000 and 26,000, the cost of a 1BR ranges approximately AED 690,000 and a 2BR at AED 900,000.
| Floors | Price |
| Studio | AED 360,000 and 26,000 |
| 1 BR | AED 690,000 and 35,000 |
| 2 BR | AED 900,000 and 45,000 |
For real estate investors, Downtown Jebel Ali is the best area in Dubai for property investment.
4. Dubai Creek Harbour
The Dubai Creek Harbour area is known for its majestic waterfront, which spans an area twice the size of Downtown Dubai and is near the historic Dubai Creek.
This waterfront destination is poised to become a new global icon with its awe-inspiring architecture and world-class amenities, making it the best place to live in Dubai. Investors can look forward to high rental yields and capital appreciation in this sought-after location. Dubai Creek Harbour is a perfect mix of world-class residential units and diverse cultures, complementing the real estate needs of individual home buyers and businesses.
The districts in Dubai Creek Harbour are the Urban Core District, Sanctuary District, Island District, and Retail District. Residents living here can visit nearby popular places in just 15 minutes, like the Dubai Festival City and Ras Al Khor Wildlife Sanctuary, and Dubai International Airport is just 12 minutes away.
The average sales and rental price here for 1BR is at 1,272,000 and 66,000, 2BR is at AED 2,045,000 and 93,000, 3BR is at AED 3,161,000 and 155,000, and 4BR is at AED 5,711,000 and 303,000.
| Floors | Average Sales | Rental Price |
| 1BR | AED 1,272,000 | AED 66,000 |
| 2BR | AED 2,045,000 | AED 93,000 |
| 3BR | AED 3,161,000 | AED 155,000 |
| 4BR | AED 5,711,000 | AED 303,000 |
For home buyers, Dubai Creek Harbour stands is the best destination in Dubai for property investment.
5. Al Furjan
Al-Furjan is the best residential investment place in Dubai and is gaining popularity. The properties here have the potential to generate a high ROI, as they have all the key features of being the best place to live in Dubai. It provides a perfect mix of leisure, commercial, and residential facilities. It is amid Sheikh Mohammed Bin Zayed Road and Sheikh Zayed Road, the two major highways.
Residents living around this area can have fun at Ibn Battuta Mall, which is famous for its bowling center, or watch movies at the Jabel Ali Recreational Club. This area has nearly 24 retail outlets and over 10 restaurants in Al Furjan Pavilion.
The average sales and rental price of a studio in Al Furjan starts at AED 499,000 and 39,000, 1BR at AED 866,000 and 62,000, 2BR at AED 1,268,000 and 84,000, and 3BR at AED 1,902,000 and 142,000.
| Floors | Average Sales | Rental Price |
| Studio | AED 499,000 | AED 39,000 |
| 1BR | AED 866,000 | AED 62,000 |
| 2BR | AED 1,268,000 | AED 84,000 |
| 3BR | AED 1,902,000 | AED 142,000 |
The average sales price of 3BR to 6BR villas at Al Furjan ranges from AED 3,064,000 to 8,799,000, and the rental price ranges from AED 223,000 to 390,000.
6. Dubai Silicon Oasis
This innovative technological location is an investment haven for real estate investors and companies. Like other communities in Dubai, Dubai Silicon Oasis has an ample mix of world-class residential and commercial properties, creating opportunities for investors to invest in Dubai.
This booming tech community is investor-beneficial as it attracts no corporate or income tax, has low customs duty, and encourages 100% foreign ownership. The innovative-technology park, residential towers, and villa compounds are the three main areas here, and the popular locations are Cedre Villas, Binghatti Apartments, Silicon, and Arabian Gates.
Residents of Dubai Silicon Oasis have easy transport connectivity as the Redline Metro, the Centrepoint Metro Station, is just 14 minutes away. To hang out with family or friends, the places within a 25-minute drive are IMG Worlds of Adventure, Dragon Mart 2, Jumeirah Beach, and Dubai Outlet Mall. The Dubai International Airport and Burj Khalifa are within 25–30 minutes.
A 3BR villa’s average selling price starts at AED 3,822,000, 4BR at AED 3,964,000, and 5BR at AED 5,093,000, while the rental prices are AED 225,000, 242,000, and 273,000 respectively.
| Floors | Average Selling Price | Rental Prices |
| 3BR | AED 3,822,000 | AED 225,000 |
| 4BR | AED 3,964,000 | AED 242,000 |
| 5BR | AED 5,093,000 | AED 273,000 |
The Dubai Silicon Oasis area is the best place to invest in Dubai for local and international companies.
7. Dubailand
The 3 million sq. ft. spread of Dubailand is a booming community and is listed as the best for Investment in Dubai in the real-estate sector.
Launched in 2003, Dubailand has several residential communities, retail centers, tourist destinations like the Dubai Miracle Garden, Dubai Sports City, and other leisure destinations. Residents in Dubailand can visit entertainment and leisure facilities, including Dubai Sports City, Dubai Autodrome, and Dubai Miracle Garden.
| Floors | Average Sales | Rental Price |
| Studio | AED 455,000 | AED 29,000 |
| 1BR | AED 597,000 | AED 41,000 |
| 2BR | AED 990,000 | AED 54,000 |
| 3BR | AED 1,654,000 | AED 105,000 |
| 4BR | AED 5,114,000 | AED 205,000 |
Being the best place to invest in Dubai, Dubailand is listed as one of the top residential investment areas.
8. Dubai Marina
Known for its stunning waterfront views and vibrant lifestyle, Dubai Marina holds its position as the prime area to invest in Dubai. This area offers residential and commercial properties by reputed developers at a competitive price that suits every pocket. This aqua-themed area is the favourite destination in Dubai for investment in real estate.
Dubai Marina in Dubai has the best family-pro residential buildings and skyscrapers that upgrade living standards. Communities here represent cultural diversity and are peaceful, connecting landmarks within a fair range, like premier educational institutes, malls, public transport, and healthcare facilities.
Palm Jumeirah and Jumeirah Beach Residence are nearby, including business districts like Dubai Internet City and DIFC, which makes it the best area for property investment in Dubai.
| Floors | Average Selling Price | Average Rental Price |
| studio | AED 1,004,000 | AED 69,000 |
| 1BR | AED 1,488,000 | AED 103,000 |
| 2BR | AED 2,366,000 | AED 155,000 |
| 3BR | AED 3,813,000 | AED 248,000 |
| 4BR | AED 6,335,000 | AED 299,000 |
9. Business Bay
The canal-side and centrally located Business Bay is one of the prime real estate investment locations in Dubai and the most preferred location for investment in Dubai.
Business Bay has some great office spaces and luxurious residential complexes, providing an easy connection to major landmarks. Housing and commercial construction have increased significantly in Business Bay, registering more property bookings, especially for Off Plan Projects in Dubai.
This place is known for its remarkable executive infrastructure, like the Executive Towers, SLS Dubai Hotel & Residences, Bayz by the Danube, and Aykon City. Some top-class hotels, like the JW Marriott Marquis Hotel, Steigenberger Hotel, and Taj Dubai, are in Business Bay, making this area an elite hub for corporates.
| Floors | Average Property Prices | Rental Prices |
| Studio | AED 996,000 | AED 69,000 |
| 1BR | AED 1,55,9000 | AED 121,000 |
| 2BR | AED 2,51,7000 | AED 143,000 |
| 3BR | AED 4,014,000 | AED 206,000 |
| 4BR | AED 12,042,000 | AED 321,000 |
Business Bay is the best corporate destination for property investment in Dubai.
10. Al Barsha
Located in south of Dubai, Al Barsha is a self-sustaining district making it one among the Top 10 Areas for Property Investment in Dubai with solid residential and commercial properties. Al Barsha is subdivided into 5 districts, each with excellent transport accessibility, healthcare units, well-designed residential apartments, and commercial set-ups. It is an ideal destination for property investment in Dubai for real estate investors looking for higher rental yields.
The property types in Al Barsha are mostly apartments and villas, but this area is popular for renting luxury villas, confirms the Bayut & Dubizzle H1 Rental Market Report for Dubai 2022.
Al Barsha has some very beautiful gardens, like Barsha Pond Park, Miracle Garden, and Butterfly Garden, that attract global tourists. The community enjoys visiting the Barsha South Mall and Mall of the Emirates, which are nearby and the best places for shopping.
| Floors(Apratment) | Average Sales | Rental Prices |
| Studio | AED 653,000 | AED 45,000 |
| 1BR | AED 976,000 | AED 63,000 |
| 2BR | AED 1,459,000 | AED 84,000 |
| 3BR | AED 5,000,000 | AED 131,000 |
The average sales price of villas for 3BR is at AED 4,500,000, 4BR at AED 5,597,000, and 5BR at AED 5,000,000.
| villas | Average Sales Price |
| 3BR | AED 4,500,000 |
| 4BR | AED 5,597,000 |
| 5BR | AED 5,000,000 |
In the coming years, Al Barsha is poised to gain more popularity and will be the best place to invest in Dubai.
Conclusion
Dubai has proven its mettle in the global real estate investment arena by having top-notch, premier locations for property investment and this blog by HJ Real Estates on Top 10 Areas for Property Investment in Dubai is a testament to this fact. There are several ongoing off-plan residential projects across the city, engaging the best construction expertise and equipment with world-class interiors to meet the exact needs of the investors in Dubai. For offshore property buyers, investing in Dubai will always remain a top priority and the most preferred location.
