Cheap property in Downtown Dubai
Downtown Dubai, formerly known as Downtown Burj Dubai, is one of the most sought-after districts in the UAE's largest metropolis. Not only do holidaymakers and business travellers choose property in this community, but also many expats prefer to Downtown Dubai for relocation. It attracts people with plentiful tourist attractions, luxurious lifestyle and first-class housing. Although most of the options available for sale in this community and pricey properties, there are still cheap apartments in Dubai.
Foreigners are allowed all types of property in Downtown Dubai as this community is a freehold area where residents of other countries can buy property and be rightful owners. You can also apply for a mortgage. Banks in the United Arab Emirates offer mortgages on favourable terms. A wide range of development projects allows you to buy cheap real estate in Downtown Dubai.
This community is the hallmark of the metropolis. It is home to one of the tallest buildings in the world, the Burj Khalifa. There are also many other attractions including gigantic shopping malls, the world's largest musical fountain that shoots water as high as 150 meters. It is a perfect place for relocation, holidays or investments.
The central part of Dubai is always popular with tourists. Therefore,cheap housing in Downtown Dubai is in high demand. Considering that the holiday season in the United Arab Emirates lasts almost all year round, an apartment in this community brings high rental yields.
Property prices in Dubai
The cost of housing depends on the location of the property, living space and how comfortable it is. Amenities available in a development project also influence the price. The most sought-after apartments are located in development projects that offer:
- a gym;
- a pool;
- a park area;
- a playground.
On average, prices for studio units start from USD 4,900 per square meter. Prices for one-bedroom apartments start from USD 4,350 per square meter. Two-bedroom apartments are pricier options. The average price per square meter is USD 4,630. However, you should keep in mind that the real estate market is dynamic and the prices may change. Therefore, you should check out the prices before buying a property.
Investment in cheap housing in Downtown Dubai
There are many reasons to invest in cheap property in Dubai:
- Affordable prices. In large cities in Europe and the United States, you can buy housing of a much smaller area for the same price.
- The liquidity of the housing thanks to the constantly growing demand. If you decide to resell your apartment, you will easily find buyers.
- High ROIs. The return on investment for studio apartments can reach 5.6%. One-bedroom apartments ensure a 5% ROI. The lowest ROI is for two-bedroom units - 4.7%. However, this figure is almost twice higher than in major European cities.
- Net profit. Even the cheapest housing in Downtown Dubai generates tax-exempt income.
We help buy cheap real estate in Downtown Dubai, UAE
Our website offers a wide range of cheap properties in Dubai at the best prices. Our team will help you choose the perfect option matching your goals and budget. We will walk you through the buying process to ensure you a smooth and safe experience.