As one of the highest developing cities in the world, Dubai offers a whole pack of beneficial investment opportunities. Buying a property is on the top of the list among investors from different countries. Interest in Arabian real estate is also fueled by the fact that in Dubai there is no income tax, in addition, real estate rental is considered highly profitable, which has no analogues in the world. Financial benefit, ideal location, balanced city vibes and a range of advanced facilities influence the desire of buying an apartments in Dubai Marina. If you still wonder why investors choose this very locality for living and conducting prolific business, let`s come to grips with some facts.
Important facts about Dubai Marina
Before we discuss financial and social reasons for becoming a property owner in the locality, it is necessary to know its vivid features.
- Dubai Marina is an entire artificial pier that was opened in 2003 and stretches for more than three kilometers along the coast.
- The Princess Tower, the second tallest tower in the world, as well as the 88-story 23rd Marina Tower and the 84-story Ocean Heights Tower are situated there.
- The experts estimate the development of the district at about 15 billion U.S. dollars. However, only city money was invested in the construction, but also funds from private investors, so it is very problematic to make accurate calculations.
- As the locality boasts of a nearby waterfront, the beach JBR would be rightly given a «blue flag» in Europe.
Economic and social reasons for buying a property in Dubai Marina
No need to say that location and modern facilities are among the most important features to consider. However, let`s focus on even more crucial characteristics of property in Dubai Marina.
- The average price per square meter of residential real estate, according to the Dubai Land Department, is $6636. But you take not just the room in which you will live, but the view from the window, a parking space, the opportunity at any time of day to swim in the pool and work out in the fitness room, as well as walk to the beach, which is about 15 minutes walk (or ten minutes by car).
- Since 2021 Dubai Marina has shown investors the best return on investment in apartments in Dubai. On average, the return on investment in luxury apartments in the area is 5.5% per year, although depending on the location of the building, the developer and the amenities offered, this figure can be higher – up to 7-8%.
- Most of the properties in the area are residential, so interested investors have a wide range of options: studios, 1-5 bedroom apartments, hotel rooms for sale, 2-6 bedroom penthouses, 3-5 bedroom villas, 2-4 bedroom duplexes, Full Floors or even Whole Buildings. It means that investors have a whole pack of possible options to every taste and desire to make their money work.
- Dubai Marina attracts more and more tenants every year, and there is a growing demand for both short-term and long-term rentals. The demand for the dwelling is high among the immigrants who come here for work and income as well as tourists. Keeping in mind that the annual rental prices rise by about 10 percent or more, every year it becomes more and more profitable to own and rent out a home here.
- A property owner does not pay a fee in case they rent it out. The only obligatory payments for rental owners are the organization of cleaning and security of the whole complex and the surrounding area, garbage collection, and other area improvements. Talking about the apartment, the tenants pay for the consumption of electricity and water. If a detached house or townhouse is rented out, the tenants also pay for the maintenance of the land plot. However, the owner will have to pay for the landscaping of the yard.
Real estate agency in Dubai Marina
Deciding on buying an apartment in Dubai Marina, it is advisable to seek professional help. Visit the website https://www.axcapital.ae/ to get more information and to entrust this work to people who know their job well.