Where Are the Best Areas to Buy Properties in Dubai? (updated 2023)
Where are investors buying properties in Dubai? Are properties expensive in Dubai compared to your home country? We have done some research for you. Here is what you need to know when it comes to understanding Dubai property prices, getting a ballpark of how much it will cost you, and finding the best areas to buy properties in Dubai.
Are Properties Expensive in Dubai?
Compared to other cities like London, Shanghai, and Paris, Dubai’s property prices are one of the lowest. This low entry point makes Dubai very accessible to investors of all calibers as the initial capital to get started is much smaller, yet it can also achieve an average higher rental yield than other more mature markets.
Here is a comparison of the major metropolitan cities’ rental and purchase prices for an apartment:
|Rent Per Month (AED)||Dubai||London||Singapore||Mumbai||Paris||Shanghai|
|Apartment (1 bedroom) in City Centre||7,473.81||9,376.35||12,069.49||2,103.51||5,018.10||3,245.45|
|Apartment (3 bedrooms) in City Centre||14,794.08||18,168.91||23,229.09||6,166.78||11,019.87||10,218.07|
|Apartment Price (AED)||Dubai||London||Singapore||Mumbai||Paris||Shanghai|
|Price per Square Meter to Buy Apartment in City Centre||15.503.26||60,268.18||75,575.35||23,360.14||47,494.72||64,146.85|
|Contributors in the past 12 months||930||977||773||682||532||283|
Cannot find your city? Plug it in at Numbeo to find out how it compares to Dubai!
Best Areas to Buy Properties in Dubai 2023
Properties Transactions (Top 10 Performing Areas in 2023)
|Area||Sold properties||Average price (AED)|
|Jumeirah Village Circle||9,233||AED 750K|
|Dubai Marina||7,246||AED 2.9M|
|Business Bay||6,977||AED 1.4M|
|Dubai Creek Harbour||4,085||AED 2.2M|
|Jumeirah Lakes Towers||3,840||AED 1.1M|
|Dubai Hills||3,272||AED 2M|
|Sobha Heartland||2,867||AED 1.7M|
|Town Square||2,259||AED 955.9K|
|Palm Jumeirah||1,944||AED 3.9M|
How much is an Off-Plan Apartment, Villa & Townhouse in Dubai?
According to DXB Interact, Dubai Property Medium Prices (As of September 2023) are as follow:
|Off-plan Apartments||AED 1.4 million|
|Off-plan Villas||AED 2.4 million|
|Plots||AED 4.8 million|
|Ready Apartments||AED 1.1 million|
|Ready Villas||AED 3 million|
Now that we know roughly how much a property costs, let’s take a look at how to calculate how much home you can afford.
Other Sites We Like…
– For Dubai’s latest YTD property market performance, fäm Properties has an insightful page with real-time interactive charts.
– To get a feel of different Dubai’s communities and its lifestyle, take a look at Property Finder Communities Guide. It also has the latest average sale price listing, gross rental yield, and ratings of the most popular buildings in each community!
– For a property’s actual sale records and rent history, you can put in the property name and unit number on DXB Interact and it will calculate a gross return on investment (ROI) based on the last purchase price and most recent tenancy contract.