The real estate sector in Dubai has strongly battled the effects of COVID-19. And now, it is safe to say that the market is on the road to recovery. As property prices, particularly in the residential sector, are increasing, it is, undoubtedly, the best time to make an investment.
Off-Plan Vs Ready Property – What to Choose?
When we talk about investment in the Dubai property market, most people opt for apartments because of their steady demands. These units are more suitable for singletons, couples and small families that form a major chunk of the emirate’s population. The question now arises, whether to select a ready property or an off-plan one. For the uninitiated, the difference between these properties is that the former is completely built and ready to move in. The latter, on the other hand, is still under development.
The other difference relates to their price. Off-plan properties, as they are not constructed fully, are inexpensive as compared to their counterparts. This is why their demand has increased massively in recent years. As per Dubai real estate Q1 report, a growth of 8.9% in sales has been recorded in the primary market as compared to the last quarter.
Suffice it to say, if you’re looking for an investment opportunity in the Dubai property market’s residential sector, the primary market makes for the best choice. You can read a thorough comparison between off-plan and ready properties for foreign investment here.
Top Neighbourhoods for Off-Plan Apartments in Dubai
The next important decision to make here relates to the selection of the area. As the property market in Dubai is bustling with developments, you would find a new apartment complex or project under construction in almost every community. However, it’s important that you choose the area after thorough consideration and research as it impacts the ROI significantly.
On this note, let’s take a look at the best areas to buy off-plan apartments in Dubai:
Jumeirah Village Circle (JVC)
A forever favourite of locals and expats alike, Jumeirah Village Circle (JVC) is one of the most sought-after localities in the emirate.
It is a self-contained community featuring everything a resident looks for in an ideal place to live. There are top-notch residential projects that come with state-of-the-art facilities. Restaurants, hotels, resorts, entertainment venues, and every other kind of facility is available in this community.
The community, designed to be a city-within-a-city, is favoured by locals and expats alike because of the moderate price tag. You can find here off-plan apartments in an array of configurations, including 1, 2 and 3-bedroom units. Boasting modern infrastructure and more than 30 landscaped parks, it makes for an ideal place for off-plan apartments that’s bound to reap fruitful results for you.
All eyes are on this massive community covering an area of over 145 sq. km as it is going to host the much-anticipated Expo-2021. Located a little away from the hubbub of the city, yet offering an urban lifestyle in the truest sense, Dubai South houses some of the most ambitious off-plan projects in the emirate.
The locality, located close to the Al Maktoum International Airport, consists of 6 major districts. Planned to be a city in itself, it is a mixed-use community that’s fully integrated and self-sufficient in every way possible.
The fact that the new Metro Line Route 2020 connects this community to other parts of the emirate makes it much more accessible. This also adds value to the upcoming developments in this area, making them more profitable for investors.
Just like JVC, off-plan apartments in Dubai South are available in various layouts and configurations, including 1, 2, 3 and 3-bedroom. Popular projects for off-plan apartments in Dubai South are:
Although the name specifies otherwise, Business Bay is a popular residential community nestled in the heart of the emirate. It offers an upscale lifestyle due to the presence of modern residential projects featuring a splendid exterior.
On route to become one of the most preferred residential areas by locals and expats, it nestles in itself the latest marvels from renowned property developers in the Gulf region. Investors and buyers are certainly spoilt for choices when it comes to selecting off-plan apartments in Business Bay.
You would mostly find young professionals, couples and small families residing in this area. The lifestyle here is more urban and chic, as compared to some other neighbourhoods in Dubai.
When it comes to off-plan apartments, the best choice will definitely be the skyscrapers and buildings situated across the Dubai Canal. They offer breath-taking waterfront views along with modern amenities and luxuries.
Inarguably, one of the best communities for off-plan apartments in the emirate, Downtown Dubai enjoys global popularity due to the presence of iconic buildings, such as Burj Khalifa and Mall of Dubai. Apart from these two major attractions, it is also known for some other mega residential developments. Buildings located close to Burj Khalifa are particularly more in demand because of the views they offer.
For off-plan apartments, there are numerous options for investors as the area has various projects underway. Having said that, it is important to note that the properties here are expensive as compared to other areas. But the ROI they offer makes them worthy of your investment.
Contact Zoom Property if you are looking for the best listings for off-plan apartments in the aforementioned communities.