With the recent release of our quarter two report, we noticed these astonishing facts that might pique your interest.
- Dubailand, Jumeirah Village Circle and Dubai Sports City are some of the cheapest areas to buy a property.
Where do you buy an apartment when the neighbourhood you want isn’t the neighbourhood you can afford? Well, these communities are the best bet for anyone looking to live in a good-sized pad that’s also home to sporting, shopping and entertainment developments, with an average price of AED 1 million.
2. The average price per sq. ft. for an apartment in Downtown Dubai is 48% higher than the average apartment price per sq. ft. in Palm Jumeirah!
While buying an apartment in Downtown will set you back by AED 2,987 per sq. ft., grabbing one in the Palm will cost AED 2,008 per sq. ft. – that’s close to a 50% difference! In the world of uber luxury real estate, views, views, views is worth more than location, location, location. Commanding eye-popping price tags and mind-blowing vistas, Downtown Dubai and Palm Jumeirah remain two of the most searched communities on our site.
3. The average price of a villa in the Palm is AED 20 million.
Out shopping for a glitzy villa in the Palm? Well, gorgeous views and life in the eighth wonder of the world doesn’t come cheap. While the average price of a villa in the waterfront area costs AED 20 million, the average size stands at 6,447 sq. ft. and the average price per sq. ft. at AED 3,117.
4. In 2012, a studio in Dubailand would have set you back by AED 300,000. Today, a similar unit would cost AED 800,000.
While it’s no secret that Dubai property prices have increased, Dubailand still offers great value for money. The community has exploded in popularity in the last few years, soaring to 4th spot this quarter in comparison to the 7th spot last year.
Stay tuned for our upcoming article about what’s trending when it comes to renting in Dubai! Let us know what you think in the comments section below.
