Real estate Dubai analysts say that villas and apartments in Palm Jumeirah, Arabian Ranches, JBR, The Lakes, and Emirates Hills are among the best areas in Dubai to buy property.
According to them, these areas registered double-digit growth in price appreciation and transaction. Villas in Arabian Ranches show a year-on-year 34.1% increase in property value and 58.9% in growth transactions. Meanwhile, the Lakes recorded a 31.2% increase in price appreciation and a 16% rise in sales deals.
Similarly, apartments in Palm Jumeirah and JBR posted a 17.3% year-on-year price gain and 14.6% growth in capital values respectively. Their increase in sales transactions was 131.1% and 68.1%.
Why they remain the best areas in Dubai
Property insights say these areas’ strategic locations, modern infrastructure, and affordable rates are the reasons why they remain Dubai’s prime areas.
Most people with limited budgets are looking for suburban districts with affordable housing. The latest data from Property Insights shows that Palm Jumeirah, Downtown Dubai, and Arabian Ranches are among the best areas to buy luxury properties while JVC, Dubai Marina, and Business Bay are the best for residential units.
Areas near Expo 2020
Areas closer to the Expo 2020 site have also started to gain traction. These areas were previously hard to access but with the launching of the Route 2020 metro lines, areas like DIP, Al Furjan, Jumeirah Golf Club, and The Gardens have easier access now to those using public transport.
Many single professionals have started moving to these areas as the residential units are bigger for a less expensive rate.
The effects of the pandemic have made people want to purchase bigger homes in less dense and crowded areas. Watch out for mix-use, suburban, and isolated communities for the best areas in Dubai to buy property!
Source: Gulf News