Property in Dubai Marina
Real estate in Dubai Marina for investment and permanent residence can be a very profitable asset. This large freehold area in a city with developed infrastructure attracts foreigners. As per the data of 2022, this location ranks as one of the most sought-after communities for premium real estate among buyers and tenants.
The real estate in the area is represented by residences in over 200 skyscrapers. High-rise residential complexes are the dominant type of housing in Dubai Marina. There are only a limited series of detached private homes Villas in Dubai in this area are located in the podium areas of the high-rise buildings. The selection of objects in the area is relatively large and varied. The range of real estate prices in Dubai Marina allows for the option to choose from an affordable studio apartment to an exclusive multi-level penthouse.
The area is known for its luxurious waterfront and premium marina, visible from many of the skyscrapers. A well-developed transportation infrastructure with quick access to the city centre, beautiful beaches and exclusive developments attract expats worldwide.
For those who have relocated, an apartment in the community can be a comfortable place to live. The residential complexes have a variety of extras on their premises, including gyms, spas, swimming pools, cafés and restaurants.
Property prices in Dubai Marina, UAE, directly depend on the type of housing and the level of comfort:
- The average cost of a studio is AED 840,000 (USD 228,500) ;
- A 1-bedroom flat can be bought for AED 1.3 million (USD 355,500);
- A 2-bedroom condo is available for AED 2 million (USD 565,000);
- 3-bedroom residences are priced at AED 3.4 million (USD 828,000).
Depending on the quality of the property, the price of a spacious 4–5-bedroom apartment can reach tens of millions of dollars. It’s possible to see penthouses advertised for as much as AED 69 million (USD 18.7 million).
The average cost of the villas depends on the number of bedrooms and varies from AED 4.7 million (USD 1.27 million) to AED 17.6 million (USD 4.8 million).
When purchasing a property, a foreign investor may qualify for a Residence Visa, allowing the investor to stay and reside in the country. The duration of the visa varies from 2 to 5 years, depending on the investment amount. The residence permit can be repeatedly extended in the future.
Property investment in Dubai Marina
The cost of real estate in Dubai Marina tends to increase. In 2022, the flats in the city increased in price by an average of 8.5% and the villas became more expensive by 13%. In the high-end residential sector, prices have risen by 13.5%. This trend is very beneficial for businessmen, as it allows them to capitalize on the value. The biggest prospect for investors is residential property from developers. Flats under construction are on sale at far lower prices than finished ones. Such a purchase can yield several dozen per cent resale values after the commissioning of the residential complex.
Another promising way to generate a stable income is to rent out an apartment in Dubai. In 2022, rents at Dubai Marina increased by 35%. The rate of return on the studios here reaches 6.76%. One-bedroom apartments have a rate of 6.87% while 5-bedroom villas have a yield of 9.6%. Renting out such a house can bring the owner up to AED 1.1 million (USD 299,000) annually. These figures confirm the profitability of investing in real estate in the community.
Let us help you to buy property in Dubai Marina on Dubai-Property.Investments
The procedure of buying overseas property requires a knowledge of the local laws. Our experts are fully aware of the regional real estate market and are ready to provide a wide range of services and help a foreigner buy a home in Dubai Marina. Brokers will find a property that best fits the buyer's needs, arrange a viewing tour and handle all the paperwork necessary for the registration of the transaction at the Dubai Land Department. You can check the prices in rubles, euros, and dollars on the website which contains current offers for the sale of real estate in Dubai. For advice, just leave a request in the feedback form.