Dubai Real Estate: Most Popular Areas and Updated Sales Rules

Dubai Real Estate: Most Popular Areas and Updated Sales RulesI love researching real estate investments, so here’s a guide to Dubai Real Estate with background on popular areas and updated sales rules.

As you know, there are many different types of property investments. Some of the best ones are not in the United States where I live.

In this article I’ll be sharing about Dubai real estate. In particular I want to share about the Dubai Marina – which is both a residential area and a popular resort destination because it’s near the city’s famous tourist sites. This area boasts luxury real estate, which offers incredible views of the city. Investment properties in Dubai Marina promise investors high profit.

Why? Because the highest income comes from the sale, resale or renting out of housing and home prices here start at $500,000. So, let’s have a look at the recent offers of the area and the general state of the emirate’s real estate market.

The most popular Dubai areas

After summarizing the statistics for the summer 2022, experts noted some changes in the list of the most popular areas for the sale of apartments. The first three places were occupied by Dubai Marina, Business Bay and Downtown. Next in line are Jumeirah Village Circle, Jumeirah Lake Towers and Palm Jumeirah artificial island.

Experts note that in the summer the list of popular areas for the sale of townhouses and villas expanded.

Buyers prefer:

  • Palm Jumeirah, 
  • Dubai Hills Estate, 
  • Damac Hills, 
  • MBR City, 
  • Arabian Ranches. 

At the same time, such diversity reveals the stability of the real estate market.

Recently, about 59% of all transactions were carried out with finished and secondary real estate. And about 41% of transactions were for off-plan properties.

And there’s been an increase in the volume of transactions:

  • 4,184 transactions were concluded in one month
  • in 2021, the volume increased by 61%
  • in value terms, the growth is even higher – 91%

Meaning? There’s been big demand and high return for the Dubai real estate market.

Dubai Marina will grow even more with a unique project

One of the most famous and prestigious developers, Emaar, regularly announces projects that are significantly different from competitors. Recently, Marina Shores has become such a project, in the stunning Dubai Marina area. Rumor has it, this project will be the last one at this location.

This Dubai Marina project has been followed by many investors. Potential buyers are waiting for the date when it will be possible to book residential units.

This unique residential complex (on the first line of the sea), will offer gorgeous apartments. And because this is the last free plot in the harbor, many investors are eager to grab up this profitable property.

In addition to the prestigious location, the developer promises a unique and ultra-modern design that perfectly emphasizes the luxurious apartments. According to representatives, the highest quality materials are used for construction and decoration. An additional highlight is panoramic glazing, which gives stunning views of the surroundings of the Dubai Marina area.

Updated safety rules for Dubai real estate

There are some new safety rules for Dubai real estate investing. In order to exclude illegal movements of funds and money laundering, all data on transactions with the purchase of real estate for cash (over USD 15,000) will be transferred to the financial department.

The updated bill would place data filing requirements on the law firms, real estate brokers or agents who will handle the transaction. These transactions refer to either full payment or part of the payment received in cash.

All payments above AED 55,000 are subject to this requirement. According to Economy Minister Abdullah bin Tuk, the requirements apply to both legal entities and individuals. He also states that these rules are standard financial practice that meets high international standards.

The main objective of the introduction of new rules:

  • ensure the stable development of the legal framework relating to the real estate sector, thereby avoiding the possibility of illegal practices.

Experts believe these upgraded standards will further increase the popularity of the Dubai real estate market, because they offer international investors a higher level of security.

Real estate agency in Dubai

If you want property in Dubai then you should explore places like  Ax Capital which offers agency specialists. 

When you work with specialists, they have an advantage getting in good with the best developers in the UAE, which allows them to offer their clients the most favorable conditions.

In summary: Now’s a great time to explore owning your own piece of land or a villa on the shore of the Persian Gulf.

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