Bullet-Point Property: Dubai No. 70
Dubai’s world-class infrastructure, geographical location, the frequency of air connectivity and the Emirates’ liberal socio-economic policies and political stability make Dubai a natural choice for Indians to invest in their second, third or fourth home.
Indian nationals, who form the largest foreign investor group in Dubai’s real estate, have bought properties worth AED 83.65 billion in the last five years – from 2013 to 2017 – in Dubai’s property sector, according to statistics compiled by Dubai Land Department. Read more here
This week's discussions about Dubai property have included: -
- The word is that the first residents will be moving in on April 1 at Marina Gate One, and the developer is offering to pay the full 4% due for DLD fees together with some excellent mortgage offers to both residents and overseas buyers. This brilliant project is representative of the best that is on offer in the Marina; there are still some well-priced apartments available to buy with two beds starting at AED 2.4m and three beds at AED 4.1m with a very special payment plan of 40% now followed by 60% over two years. If you miss these apartments or the timing is wrong for you then there are two other towers in the project including the Jumeirah Living branded towerwhich will be ready in 2019.
- If you read last week’s BPP then you will know about the latest trend from some developers who are quoting low entry prices in their marketing message on launch and this week we had another example from one the largest private developers. I went along to the launch of Azizi Grand to find the developer selling studios in Dubai Sports City (DSC) for circa AED 500k which sounds good until you find they are just 380 sq. ft. making them at least 20% more expensive than neighbouring completed buildings based upon the price per square foot. They are also describing it as a serviced residential apartment building, though you need to pay an extra AED 60 p.s.f. for furniture
- The two-bed duplex apartments cum townhouses in Belgravia Two and Belgravia Three in JVC could be the perfect lock and leave holiday home for an overseas buyer or an investor looking for something different. A two-bed townhouse with a garden, and all the positive benefits of apartment living with underground parking, pool, kids playroom and high-quality gym. Available from AED 1.7m to AED 2.1m depending upon the outdoor area
- Palm Jumeirah is a favourite with tourists and those looking for a holiday home in Dubai, and there are some excellent options available. I visited Serenia Residences The Palm today for some final snagging on a client'sapartment, and the project is everything that we were expecting – still some amazing two beds from AED 4m – Read more here
- Another Palm Jumeirah property is The 8 which shares its gardens and beach with the new Delano Hotel scheduled to complete by the end of this year – The offers are plentiful from the developer on the asking prices, furniture packages, the payment structure and we may even get them to guarantee a rental yield of 6% net over three years – One beds with a good view can be found at AED 2.5m, and the two beds start at AED 3.15m
- I visited the Urbana apartments in Emaar South again last week, and I was impressed with the quality, overall design and the value of these apartments. The three beds at circa AED 1.3m, ready in Q4 2019, on a 5-year payment plan, are definitely worth a look.
- Emaar has some two beds in Park Point at Dubai Hills Estate starting at AED 1.3m, ready in March 2019 and on a 3-year payment plan – contact me for more info
- Jumeirah Golf Estates – Home of the European Tour season-ending tournament - launched another phase of their Al Andalus Townhouses – they sold the entire stock of three beds, but they still have a handful of two-bed townhouses at AED 1.7m
You can view some of our sales and rental listings here
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Have a great day and I hope to see you very soon