Over the last few years, Dubai has become one of the top destinations for buying real estate. It has seen a wave of high-net-worth buyers, which made real estate prices jump over 89% in 2022. This makes real estate in the city quite a lucrative investment.
Below are four reasons why we think you should buy property in Dubai and our top five choices of areas to consider.
4 Reasons Why Investing in Seafront Property in Dubai Is a Smart Choice
Seafront property in Dubai can be quite pricey, but it also has some advantages making it worth the cost:
1. High return on investment. Since prices have been rising over the last few years, you can expect to sell your house at a larger rate than you initially bought it.
2. A range of amenities. Buying a seafront property in Dubai usually comes with various facilities besides the beach. You can use pools, gyms, and SPAs available on the site.
3. Tax benefits. Dubai's favorable tax regime makes it a perfect place for foreign investments.
4. Option to earn money. Since Dubai attracts many tourists, you can rent your place on the beachfront and make pretty decent money.
5 Most Profitable Areas for Buying Real Estate by the Sea in Dubai
When choosing a home in Dubai, you have to pay attention to such factors as:
- Location: the property's price depends on whether it’s close to the seafront.
- Property type: an array of villas, apartments, and townhouses to choose from.
- Facilities: pools, spa salons, and gyms are the usual amenities that go with most houses.
We highlighted the five most profitable areas in Dubai to buy seafront property. The list can be useful for people looking for real estate investment opportunities and wanting to choose an area that can provide high returns in the future.
1. The World Islands
The first one on the list in the World Islands archipelago. It’s a set of man-made islands near Dubai’s shore that has been under construction process for over 20 years. It’s still in development, so tourists can only visit one island called Lebanon. However, investors are already buying properties there at a reduced price. The real estate prices will increase closer to the construction end since it’s a great investment opportunity. That’s why now may be a good time to examine the World Islands closely.
2. Jumeirah Beach Residence
Jumeirah Beach Residence, or JBR, is one of Dubai's most popular residential areas. It has a developed infrastructure and is well-connected to the rest of the city. The area has lots of restaurants, including Michelin-starred ones, malls, shops, and spa areas. This makes it a great place both for tourists and city residents.
It is also a place with promising investment opportunities for property buyers. The real estate prices in this area have been rising steadily over the years. In 2023, Jumeirah will remain one of the most expensive places in Dubai. So right now is a great time to check out the properties on sale in this area, using a trustworthy service like Metropolitan Group Real Estate.
3. Dubai Marina
Dubai Marina is another world-recognized place to live in Dubai. Real estate prices can be compared to those of JBR, but they are worth it. Marina has breathtaking views, developed infrastructure, and a high-end lifestyle. It is recognized as the best skyscraper area, with a large community of ex-pats living there.
Since the market is volatile at the moment, you can expect to see a range of real estate prices for buying property there. But one thing is for sure — it’s a great place both for living and investing.
4. Bluewaters Island
Another man-made island that Dubai is proud of is Bluewaters Island. It is located close to the previous area of Dubai Marina and is famous for its Ain Dubai observation wheel. The island has quite a few tourist attractions, including the famous Madam Tussauds wax museum.
There are also some luxury resorts for romantic and family getaways. Despite its location on the sea, the Island is well-connected to the rest of the city. Property prices in Bluewaters Island are rising steadily over the years, making it a profitable area for real estate investment.
5. Al Sufouh
Al Sufouh is a well-known Dubai area. It is a popular choice for families since it has many prestigious schools, universities, and business opportunities. The area is close to other Dubai attractions, such as Palm Jumeirah, Dubai Marina, and Burj Al Arab.
Property-wise, Al Sufouh offers a range of real estate objects for rent or sale. There are luxury apartments, townhouses, and villas for every taste. It’s also a great investment opportunity since it’s on the seafront and has developed infrastructure suitable for all types of families.
Tips for Making a Profitable Investment in Seafront Property in Dubai
Buying property is always a big deal, especially in foreign countries. Even if you are an experienced investor, make sure to consider the following things when looking for a property to buy in Dubai:
- Review legal framework — all the rights and regulations applicable to Dubai and the area where you’re looking for a property.
- Learn about tax incentives — Dubai offers favorable tax incentives for investors, including property and income tax exemptions.
- Choose a reputable real estate agent — look for a company that will represent your interests and make the property-buying process as easy as possible.
- Take advantage of financing opportunities — Dubai has various financing options for buyers looking to take a mortgage or use an installment plan. So make sure to ask your agent about them.
And remember to have fun while doing all of this — after all, soon enough, you’ll be able to boast about your seafront home!