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From the poll of Emirates News Today, it has been shown that developers and experts agreed on expecting a rise in the real estate prices in Dubai. It indicated that some types of properties have already begun to become higher in values. It points out that developers have started increasing the prices of villas in some of the projects, hence, it’s a time of good opportunity to buy villas now than future.

Within a month of March, Dubai saw AED 25 billion worth of transaction in property industry which was the highest in 16 months from the data of Dubai Land Department. Buyers snap up apartments and villas worth of AED 10 billion and number of the deals registered reached 4,643 which was hit another record in a while. The report indicated this value had a 23 percent rise compared to its previous month.

The most sought after location within the villa category in March was Mohammed Bin Rashid City (11.5%) in terms of sales and followed by Tilal Al Ghaf which accounts for 10.1%, Nad Al Sheba for (9.9%), Dubai Hills Estate (8.2%) and Rukan for 5.8%. Business Bay was the most transacted area having 10.7% of the total sales in Apartment category, followed by Jumeirah Village Circle with 9%, Dubai Marina for 8%, Jumeirah Lake Towers 7.6% and Palm Jumeirah  which accounts for 7.2% of the total sales occurred last month.

Growth in Demand

Muhammad Al Mutawa, Chairman of “Al Waleed Investment Company” admits his expectation of a hot summer in the real estate demand curve ahead of the Expo dates. He explains the upward movement of the slope in demand of luxury villas and apartments. He added if the market persists and the pandemic situation eases then there will be a market recovery before Expo arrival.

Khalifa Al Hammadi, Chairman of Union Real Estate Company says “We have witnessed a considerable improvement in the demand curve, especially for waterfront residential units and luxury villas. There is a small but positive movement in the suburb areas as well. Expo is perceived as a main factor leveraging the real estate sector in Dubai this year, it encourages a rapid recovery that has a large impact of local economy.

More Sales

Mohamed Binghatti, CEO of Binghatti Real Estate Development Company, argues there will be an increase in the property prices in different areas particularly in city center which is experiencing sales progress while it’s relatively low on new projects.

Ahmed Al-Dawla, Head of “On Plan Real Estate” notes the real estate sector situation is steadily improving, and highly anticipated a strong recovery this year with the help of Expo 2020. He adds that townhouse prices are visibly increasing and rents are in the path of a rise in main areas. As for sales values, it started to increase due to less supply, being affected by the delay of certain projects and half of the value deposits in the escrow account creates issues for smaller developers, which in turn, matters limited to high liquidity developers.

Rents began to increase not only because of Expo but also due to the return of the travel and tourism into the country with support of Dubai’s initiative of controlling the pandemic.

Walid Al Zarouni, president of W Capital real estate company, says since the beginning of this year, it has been a noticeable change in the demand of properties. He points out that Expo will bring back occupancy for hotel apartments and enhancement in foreign direct investments. Imminent preview of the exhibition affects property prices in the current market particularly villas sort. The positive time has come to the developers, while the increased profit will offset their losses during Covid-19 crisis. He adds vaccination rate is  a very important success factor for the Expo launch.

Market Recovery

Alaa Masoud, Director of Marketing and Sales in Al Rowad Real Estate Company, said the first quarter of 2021 foreshowed the revival of the property market in Dubai, also now all dependent on the pandemic controls to avoid the related repercussions. There are many projects that are planned to open before the exhibition dates, pushing to sell with attractive offers and longer payment plans. Mr Masoud also agrees that he observed some of the developers have increased their prices of villas.

High efficiency

UAE is dealing with Covid-19 pandemic quite efficiently, which in turn positively impacts the economy situation as a whole, and the real estate industry in particular. This year is a year of opportunity believed that recovery will take place from the second quarter along with a rise in demand. Industry experts state that monetary policy put in act will ease the loans and create favorable interest rates. The policies will enhance purchases throughout the year quarters in conjunction with the Expo 2020.

Positive Moves

Abdul Karim Al Mulla of Standard Real Estate predicts positive movements in the property prices, tend to continue the rise through Expo 2020. Thanks to several factors including golden residence programs for investments and increasing vaccination among residents. He also mentions that Dubai government has discounted the criteria of ownership of business as a foreigner. The supporting programs aligned with available opportunities in the real estate sector as a pair revitalizes the trade and fiscal sectors while providing support to the property industry.  

Gradual Recovery

The real estate sector is enjoying an ongoing recovery, data from the beginning of the year shows. Since announcement of the Expo 2020, there has been a positive change in the sector, that inflated at some levels before correction. In the last quarter, prices got stabilized and enhanced the market confidence upon a period of market volatility.

Increases

There is varying proportions of rises in real estate prices, thus it was a result of a few factors including the most significant one which is travel and tourism. Dubai is one of the safest city in the world, not only in terms of violations, but also with regard of pandemic, in light of precautionary measures and spread of vaccinations, consequently increases the property prices especially luxury.

On this coming October 1^st, 2021 the massive event is ultimately taken place at Expo 2020 site in Dubai. After successfully and safely demonstrated its Sustainability Pavilion “Terra” to more than 100,000 audiences, The Expo 2020 officially declared it is ready to fully open its door to the world. All sounds exciting, but what is really happening inside? What is it arranged to showcase with its invitation to 190 countries of the world? Why is it also named World’s Greatest Show, and what is the main goal of it.

Dubai is the 33^rd city to host the World Expo, the third-largest event in the world while bringing the Arab world to host its largest event ever staged. With the main theme of ‘Connecting the minds, Creating the Future’ with sub-items of Opportunity, Mobility and Sustainability, the Expo 2020 is a 6 months-long event. Each week of the program has its own unique focus on how participating country is making the world a better place.

Marjan Faraidooni, CEO of Expo 2020 Dubai says the organization is thrilled to have offered UAE the chance to preview the Sustainability Pavilion, to highlight our dedication to resolve most pressing issues. He also mentions the event will act as an exclusive opening for the world to gather together in a spirit of hope and optimism with common purpose. During the demonstration, the organizer introduced health and safety practices must be followed throughout the events. From social distancing to on-site Covid testing for staffs and merchants all aligned with the medical authorities ensuring well beings of all. They also noted that results of Post Premiere Satisfaction Survey were high and guests were impressed by the cleanliness and service of the event.

The Pavilions

Pavilions representing the countries are the main highlights of the World Expo. There will be 190 pavilions to see in addition to the inventions itself to explore the sheer scale of this event. Each of the themes featured in the Expo will have its own pavilions, The Mobility pavilion brings the visitors on a journey through time. It begins with 9^th Century Baghdad and leads though virtual reality and serviced by robotic servants. The Opportunity pavilion is set to inspire people to make for a better world by interactive simulation practices towards the importance of food, water and energy. Lastly, The Sustainability Pavilion shows numerous ways of sustainability concepts in order to convince the world citizens to preserve the Earth.

The UAE Pavilion is 15,000 sq. m large and designed by renowned architect Santiago Calatrava in a shape of a flying falcon- to tell the history of UAE as a nation of global hub striving to create a progressive and peaceful society with ambitious ideas in the future. The UAE’s pavilion is aimed to present its evolution in aviation industry. From displaying future of commercial flights to showing designs of aircrafts as well as aviation science and experiments offered in the pavilion. Additionally, UAE Pavilion is in charge of hosting light shows every night through the whole Expo event.

In the Expo’s Discovery section, Portugal Pavilion is operating to let visitors learn about blue economy, history, entrepreneurship, marine and water reservation and renewable energy as well as Portugal’s contributions to aerospace with interactive screens. Also, there are Portuguese eateries and a terrace decorated in Portuguese style will be accessible from the its pavilion. The visual spectacles the guest will encounter is one of a kind experience and impressive enough to drag fervor about architecture. Notwithstanding, every pavilion has been injected with a pure hard work and dedication of creativity into exterior and interior designs.

Events

“The World Expo is a celebration of artists and academics rather than a commercial fair or a trade event” says the organizing committee. There will be 60 events each day welcoming tomorrow’s leaders of pioneer thinkers, artists and musicians, culinary experts, corporate gurus and tech savvies. There will be held performances from famous musicians and stars, comedians and cultural events and plenty of parades in all Expo sites. The visitors will witness all sorts of festivals and celebrations from around the world, including Hinduism festival of lights Diwali, The UAE National Day which marks celebration on December 2 and Christmas, New Year’s Eve and Chinese New Year hosted in Expo venue.

Moreover, The Al Wasl Plaza (the name presents “Connect”) will display 360 degree laser projection in and out of the plaza on the steel trellis. So that visitors will get updated on the current shows and ceremonies occurring during the World Expo.

Food

Needless to mention that food plays a major part of every event, in which, undoubtedly resembles a major importance and scale especially in an event of global scale.

There are over 200 eating outlets at Expo, including the best and elected chefs from around the globe to cater over 50 cuisines, including Italian, French, Greek, American, Japanese, Indian, Emirati, and Thai food.

From eating at a food truck or grabbing a quick bite while touring to fine dining experience with a live culinary shows, there will be many ways to satisfy the taste buds with diverse options.  

Commuting

Fortunately, transportation is widely well managed as in account of this event will be truly a massive occasion in a larger scale attracting many residents and non-residents.

There are in total of more than 30,000 car parking spaces around the site venue and 1,500 valet parking stops available. There are also Careem and Uber perspective points for pick up and drop off passengers and RTA Taxi area is specially placed near the entrance. Lastly, there are dedicated 580 buses routes to Expo and 27 free shuttle buses serving with 8 pick-up and drop-off places.

Tickets

The Expo passes are in options of Single Day Pass, 3-Day Pass and Monthly Pass (multiple entry for 30 days) as well as seasonal pass which allows its visitor to gain access to the Expo freely during the entire affair. Ticketing exceptions include seniors aged over 65 year old and children aged below 5. Also, tickets are available for cheaper rate for teenagers of 6 to 17 years old for educating purpose.

If you are planning to visit Dubai during Expo 2020, you might be aware that over 25 million visitors are expected for the mega event. Between 1 Oct 2021 and 31 Mar 2022, expecting to welcome 25 million visitors to the multitude of offers presented by Expo 2020, 70% of them would be non-residents, which means there will be a huge demand for short-term stays. There will be more than 200 international businesses, educational institutes, and non-government organizations from 190 nations. Expo 2020 is a once-in-a-lifetime opportunity to see some of the most exciting technological innovations and projects that are happening around the world. Being held around the theme of “Connecting Minds, Creating the Future” Expo 2020 will attract some of the smartest minds in the world to Dubai.

When you are visiting Dubai during Expo2020, it will be a good idea to stay in a place that is close to a metro station because you can directly access the Expo 2020 Pavilion using the metro. As the Expo 2020 is going to offer countless occasions for visitors, we suggest you plan your trip well in advance. Dubai is a bustling city already including to be one of the few places that is open for tourism during covid-19, and the inflow of Expo guests will absolutely make it more challenging to get a decent accommodation at good rates.  

Since the first World Expo in London in 1851, these international expositions have been used to promote trade, display new technological advances and progress, encourage cultural exchanges and generally showcase countries on an international stage. It is an incredibly exciting moment for Dubai, the UAE and the Middle East as a whole. This is an opportunity for Dubai to shine and show its visitors the city’s potential beyond six months of the Expo.

With so much going on and so many people are arriving, the short-term rental market has come of age at the right time. Holiday homes provide the necessary accommodation on a spectrum of budgets and in any location in Dubai. You can now rent a one or two bedroom apartment for the price of a single hotel room in Dubai. This means that you can travel with your family, make your own food, wash your clothes and have enough space for everyone. Additionally, you can also access the building pool, gym and centrally located from any activity that you wish to do.

The areas near to Expo site include Dubai Investment Park, Jebel Ali, AL Furjan, Dubai South, Dubai Motor City, Dubai Sports City, Dubai Marina and Barsha Heights (Tecom).

Let’s start the list with some of the most affordable hotels near the Expo 2020 site –

1. Hotel: Fortune Hotel

Cost: starting AED  119/ night

Location: Dubai Investments Park

2. Hotel: Rove at The Park

Cost: starting AED 178/ night

Location: Jebel Ali

3. Hotel: Park Inn by Radisson

Cost: AED 239/ night

Location: Dubai Motor City

4. Hotel: Occidental Hotel

Cost: AED 148/ night

Location: Dubai Production City

#1 AirBnB for short term rentals and housings

Although Dubai has less listings in terms of numbers compared to big cities like London and New York. The popular application is widely used portal for finding short term leases in any destination around the globe.

The AirBnb app is available on the iOS AppStore and Android PlayStore on mobile. There, people can search from numerous options on specified dates and locations. tenants can chat with the landlors once the interest is confirmed. It has reviews, descriptions and easy booking process.

From some of the budget findings on AirBnb that may be interesting to look at:

1. Dubai Investment Park near Expo 2020: A Private room with access to bathroom

Cost: AED 202/ night

Details: 3 guests · 1 bedroom · 3 beds · 1 bath

2. Dubai Investment Park: Women only Shared room

Cost: AED 36/ night

Details: 4 guests, 1 bedroom, 4 beds, 1.5 shared baths

3. Dubai Investment Park: Private room in fairly close location to Expo site

Cost: AED 217/ night

Details: 3 guests, 1 bedroom, 2 beds, 1 bath

4. Dubai Investment Park: Home Away Holiday Home in DIP

Cost: AED 207/ night

Details: 2 guests, 1 bedroom, 2 beds, 1 bath

5. Dubai South DWC Airport: Studio Apartment near DWC Airport

Cost: AED 153/ night

Details: 2 guests, Studio, 1 bed, 1 bath

6. Apartment in Dubai South

Cost: AED 231/ night

Details: 2 guests · 1 bedroom · 1 bed · 1.5 baths

7. Apartment in Dubai South

Cost: AED 333/ night

Details: 4 guests, 2 bedrooms, 2 beds, 2 baths

8. Al Furjan: Studio Apartment

Cost: AED 259/ night

Details: 2 guests, 1 bedroom, 1 bed, 1 bath

9. Jebel Ali: Studio Apartment with a Poolside view at Discovery Gardens

Cost: AED 130/ night

Details: 5 guests, Studio, 1 bed, 1 bath

10. Dubai Motor City: Entire apartment for stay

Cost: AED 661/ night

Facilities: 4 guests, 1 bedroom, 2 beds, 1.5 baths

11. Barsha Heights: Deluxe studio fully furnished

Cost: AED 230/ night

Details: 2 guests, Studio, 1 bed, 1 bath

12. Dubai Marina: Entire serviced apartment

Cost: AED 259/ night

Details: 2 guests, Studio, 1 bed, 1 bath

#2 Use application OYO for short term rentals

OYO has been one of the trusted options for vacationers for quite some time now. Known for its affordable rates and tempting deals, this website is local and has some benefits. Some of the prices ranges found on OYO app including:

1. Homestay: Damac Celestia

Cost: AED 400/ night

Location: Dubai South

2. Homestay: Elite Homes

Cost: AED 500/ night

Location: Dubai Sports City

3. Homestay: Diamond Views

Cost: AED 600/ night

Location: B Block, Diamond Views 1, Jumeirah Village Circle, Dubai

4. Homestay: Pantheon Homes

Cost: AED 400/ night

Location: Road 2 district 13, Jumeirah Village Circle, Dubai

5. Homestay: 1 Bedroom Apartment

Cost: AED 852/ night

Location: Qasr Sabah 3, Production City, Dubai

6. Homestay: 1 Bedroom Apartment

Cost: AED 852/ night

Location: Tamcom, Dubai Investments Park-1 (Near Almaya Supermarket)

#3 If you are seeking monthly rentals, the prices should be from Texture Properties database

1.Entire Condominium: Dubai Deluxe Studio Next to Expo 2020

Cost: AED 3,276/ month

Details: 2 guests, Studio, 1 bed, 1.5 bath

2. Luxury apartment: Near expo site

Cost: AED 5936/ month

Details: 2 guests, studio, 1 bath

3. Entire apartment: Barsha Heights

Cost: AED 6217/ month

Details: 2 guests, 1 bedroom, 1 bed, 1 bath

Summarized

As we handpicked the listings from the relatively good located, average standard, and good-rated properties. We see from the list we made out of listings available for short-term rentals around in near proximity to Expo, the daily rate comes quite high for flexible dates. If you multiply daily rates to 30 times, a monthly cost goes up a minimum of 3 times higher than what one can pay for a monthly lease.

In brief, having the trip planned out well to choose whether to stay a long term (more than a month) or should stay on weekly basis would have different impacts financially. As we could witness the rental cost fluctuates quite differently based on the length, we may jump to a conclusion that long-term rental is preferable.

If you are searching for the best places to stay either for the short term or a long term, Texture consultants can help you today. Reach out us at Toll Free number : 800TEXTURE

The government of the kingdom calls Expo 2020, yet keeps the same name as original for branding purpose, “the largest event ever happened in Middles East stretching for 173 days long, hosting 190 countries and attracting millions of visitors around the world. Showcasing the multiple themed shows promoting innovation technology and sustainability not only in the region but of the world.”

Yes, a long awaited expo is finally taking place in UAE this October. Back in 2013, The general assembly of The Bureau International des Expositions (BIE) in Paris appointed Dubai with a prestigious right to organize the top global event Expo 2020. Expo 2020 (Arabic: إكسبو 2020‎) directed by Reem Al Hashimi with a theme of “Connecting Minds, Creating the Future” initially was scheduled for 20 October 2020 – 10 April 2021. However, it was postponed rather than canceled due to the COVID-19 pandemic globally, having stated the new dates are 1 October 2021 – 31 March 2022 now. The organizers have decided to keep the name for marketing concerns, in spite of being postponed, have set the main site of Expo 2020 located between Dubai and Abu Dhabi in an area spanning 438-hectare master planned by an American firm HOK.

Dubai has made humongous investments in Real Estate and has announced a world’s biggest Solar Power Project set to start this year. Thus major highlights of the event’s purposefulness will be investments in real estate and economic growth as well as public affairs. Apart from bringing money, the country is keen on focusing on world’s sustainability and environmental change. Which is why the whole event has been sub-themed in three groups namely Sustainability, Opportunity and Mobility.  

Expos in the past have drastically changed the host countries, so is being forecasted to occur in Dubai this year. Billion dollars cost in effort to showcase such event, the organizers expect at least 20 million visitors both from overseas and domestic visitors to the site. Ernst & Young noted in their latest assessment that Expo is expected to create 49,700 full-time jobs this year and contribute AED 122.6 B to the Dubai’s economy.

In 2020, the property market in Dubai saw the most transactions as there was a considerable decline in the prices of sales and rents. Towards the end of 2020, the off-plan segment had a massive decline whereas secondary market shifted upwards. Many projects slowed down the new phases due to its decline, conversely many developers are hoping for nothing but a positive growth in demand with the help of Expo 2020 coming up and followed by 50^th National Day in December 2021. However, as from S&P Global Ratings, it states new launches by developers led to remain minimal throughout the year while transaction volumes kept robust as the affordable rates are persisted.

Staffs are resuming to the office in Dubai quicker than in the rest of the financial hubs, stated by S&P Analysis repost published on 1^st March 2021. Previously, the rental and sales of office spaces has seen a huge decline given the current situation where large companies are deferring their offices and the trend of working from home amongst most of the professionals. On the contrary, ecommerce and logistics enterprises have been enjoying the boom in the market demand, consequently, warehouses and storage setups are top sellers in the market now. And many more businesses are opening on online basis from the data of Department of Economic Development in Dubai, as its quite easy to obtain a eTrade business license as an expat. Also Expo 2020 is likely to create a large number of job openings for residents across few sectors including hospitality, architecture, service sectors and infrastructure development sectors.

Dubai’s economy is predicted to maintain 3.8% to 4.6% growth over the next 5 years, stated in London based Capital Economics organizations published papers. There is no doubt that Dubai’s property market is buoyed in a gradual upslope by the much anticipated Expo 2020. A lot of investors are willing to have their base in UAE, as the rules and infrastructure are promising fascinations as any other major cities in the world. Atif Rahman, Director of Danube Properties mentions, “It is the right time to invest in this market because its return yield is glamorously 10-12% this year where investors are able to clock anywhere else in the world averaging between 5 to 6%. Rather than conventional buying and selling, this is about the time for investment for everyone”.

Favorable payment plans and amplified flexibility in loan repayment as well as visa terms for investors are some of the main factors impacted on the rise of Dubai’s real estate market. The policy reforms of past few years and a long awaited Expo are finally dragging investors back to the kingdom. By the data shown on Gulf News, solely for this year, there are total of 19 thousand foreign investors in Dubai with a sum of over AED 35 Billion worth of investments that have been disclosed. The list of foreign investors is being led by Indian investors with Chinese followed being second top investors and the list continues with British, French and Pakistani financiers.

The World Expo 2020 is expected to have a positive and a far-reaching impact on Dubai’s real-estate market. 25 million guests are anticipated to take part in Dubai for the world’s renowned event and 70% of them will be outsiders. This number will surge not only the tourism industry but also larger demand for rental apartments. Apart from many changes in the rules and regulations implementing in the nation, stabilizing the relations with Israel, and normalizing the ties of four Arab countries with Qatar, should directly boost travel and property investments to Dubai.

Final Thoughts

Investments in Dubai real estate industry is vastly projected before, during and after the expo, that will stay to witness the development of high-end residential projects. To conclude, Dubai is all set to experience the growth and welcome the Expo 2020 to watch the devices that extracts water from air, concrete that generates solar power, and the most sensitive radio telescope ever made during the event. The visitors will get to see the ideas of most inspiring architectures and witness the structures that produce electricity, spaces that change shape, buildings that send messages to space while enjoy the world’s greatest entertainment.

Moving into a villa could have many motivations like one seeking extra luxury, or more room for the expanding family, or simply just more flexibility of decoration on their own. Whatever the reason is, the main challenge of this upgrading endeavor is perhaps how costly it could be to buy it and maintaining monthly bills.  Set aside the monthly bills, at least to have a bit of research on the options that are rather affordable for quite a lot of reasons today, we found the most appealing communities to look at. This article will guide you through the cheapest villa communities in Dubai that some of them didn’t realize was this cheap.

#1 Jumeirah Village Circle

Jumeirah Village Circle offers very competitive prices on its quality-made villas featuring modern-style amenities. Convenient locality for a perfectly balanced lifestyle between tranquil suburban neighborhood and city services for anything needed. This community is no wonder to be ranked one of the top places to buy/rent villas in Dubai offering a higher yield of return that attracts not only families also young expats.

Location

It is situated right off the Sheikh Mohammed Bin Zayed Road with Springs on the left side and Barsha on the right. Its proximity to Dubai Marina and Barsha Heights explains why it’s in a strategic location- and why investors are interested in this community due to being the benchmark for most groups.

Sales prices on average:

1 bedroom townhouse is sold for AED 950k, also 1 bedroom villa is cost AED 1M.

2 bedroom and 3 bedroom villas cost around AED 1.5M and AED 1.9M respectively.

Most popular properties are namely The Manhattan, Diamond Views, Seasons Community and Seasons Community featuring different clusters and different amenities. There are also hotels like FIVE Jumeirah Village Hotel and Milano Hotels offering sales options for investors.

#2 The Springs

The Springs is a villa community offers a safe and serene living environment most ideally for young couples and families within its self-contained, gated neighborhood. The dazzling community provides contented daily lives among uniquely modern sandy hued villas which are semi-detached while conveniently located between all the amenities. Springs residents can enjoy fully owned properties with luxurious amenities by the scenic lake in the heart of Dubai.

Location

The Springs gated community is in the ideal location which is close to Internet City and Dubai Marina, and right off the Sheikh Zayed road makes it perfect for young couples and families.

Sale prices on average:

For investors, obtaining a 2 bedroom villa costs as low as AED 1.2M- which is one of the most affordable selections in Dubai. 3-bedroom villa would range somewhere between AED 1.8M. Also, one could shell out 1.9M for larger 4-bedroom villas.

#3 Mira Oasis

The versatile neighborhood amidst lush greenery surrounding desert scape offers cheap villas upon its completion phase of most of the batches of villas and townhouses. The community provides a number of shared facilities for its residents featuring an amphitheater, a skate park, a volleyball court and outdoor gym. A variety of events are held in this lively community where hundreds of residents gather together for games and live performances occasionally.

Location

Mira Oasis is located in the middle of 3 communities Academic City, Al Barsha, and Dubai Investments Park.

Sale prices on villas:

The starting price for 3-bedroom villas for sale in Mira Oasis is AED 1.3M and it can go up to AED 2.1M. As for 4-bedroom villas for sale in Mira Oasis, the asking prices range between AED 1.75M to AED 2.4M.

#4 Serena

Serena by Dubai Properties is a newly developed community meant for affordable villas and apartments available for sales/renting. The community is quite well planned reflecting a preeminent Mediterranean style whilst offering relaxing natural vistas and fully equipped amenities.

Location

Serena is located in Dubailand in relatively close proximity to most of the Dubai’s landmarks and laid off the Sheikh Mohammed Bin Zayed Road.

Sales Prices on Average:

Sales prices vary from one villa to the other depending on the number of rooms and built in space of the property.

2-bedroom villa for sale for AED 980k to AED 1.3M. Moreover, one can own a 3-bedroom villa at a buying price of AED 1.6M.

#5 Dubai Silicon Oasis

 Dubai Silicon Oasis has developed with the aim of becoming a hub of global technology companies dedicated to innovations and research. The area has grown to a buzzing vast community of residentials and commercial activities with the help of its affordability and its self-sufficient sorts. The technology park centered community had a broad network of roads and a range of villas selections that are quite fulfilling to budget conscious buyers.

Location

It is located on the intersection point of Al Ain Road and Sheikh Mohammed Bin Zayed Road.

Sales prices of villas:

Cedre Villas is the only cluster putting freehold forward as Dubai Silicon Oasis residentials are generally sold on 99-year lease. To buy a full ownership of a 3 bedroom villa in the Cedre Villas would cost AEE 2.1M and 4 bedroom goes up to AED 2.6M.

#6 Town Square

Town Square by Nshama Group is an expansive family-friendly community that is close to the Expo site. The community is very popular because of its affordability for the quality being offered along with the superior amenities. Town Square has been one of the most awaited projects and continuously evolving to date. In a nutshell, the development features considerably lower buying rates and a clean environment while offers everything within a reach.

Location

it is located along Al Qudra Road (D63) on the outskirts of Dubai.

Sale prices of villas:

For investors interested in buying a villa, they can opt for choosing from a wide selection of 3 or 4-bed houses in multiple sub-communities. For example, both 3-bed townhouse and 3 bedroom villa in most of the clusters in Town Square will range from AED 1M to AED 1.7M, whereas a 4-bed villa will be sold somewhere between prices of AED 1.4M to AED 2.0M. Newly developed Noor Townhouses ranked as the most transacted sub-community offering mix of villas and townhouses in Town Square.

Al Barsha is a major residential and commercial hub that is self-sustained with a wide range of shopping malls, hotels, and restaurants. Since the opening of the Mall of Emirates, the community has been transformed into an adorned neighborhood while building reputed schools and hospitals and attracted more crowd to the area. Al Barsha is comprised of 5 smaller communities namely Al Barsha South, Al Barsha I, Al Barsha II, Al Barsha III, and Barsha Heights. Al Barsha is bounded to the south by Dubai Sports City, to the north by Al Sufouh, the east by Al Quoz, and west by Emirates Hills and other developments. The area is home to luxury villas with highly convenient locations makes it a good choice for families.

Al Barsha gradually introduced a sophisticated atmosphere especially through its newly developed Barsha Heights. The area has become popular amongst young expats from different cultures and different backgrounds. The majority of the shops, restaurants, and apartment buildings are located in Al Barsha 1, whereas villas are dotted throughout the Barsha II and Barsha III and the rest of the communities. Due to the prime location between Sheikh Zayed Road and Al Khail Road and Al Barsha is very accessible for daily commutes for professionals.

Al Barsha has no shortage of amenities for amusement options, it’s home to Barsha Pond Park, Butterfly Garden and Miracle Garden. Al Barsha Pond park is a popular place for families and sports activities rounding a man-made lake surrounded by lush greens.

Properties

Al Barsha I is mainly comprised of apartments and considered to be the busiest amidst others, generally because of its proximity to the metro station. On the contrary, Al Barsha II, III and Barsha South are offering villas and tend to be much quieter maintaining suburban feels for family lifestyle. Barsha Heights, previously known as Tecom, has high rise towers for both commercials and residentials mostly suitable for single professionals and business travelers.

One can find furnished apartments for renting short term and long term basis In Al Barsha. Many landlords offer flexible schedules for rentals and costs based on which project and built-up space its offering. Most of the high rise buildings have premium facilities like fully equipped gym, common areas and swimming pool.

Studios for rent in Al Barsha on average around AED 34k per year, with a covered space spanning 400 sq ft. Al Barsha I offers chiller free units with slightly higher rental price. 1 bedroom spanning across 850 sq ft ideal for small families or couples would cost AED 45k annually. Rents for spacious units like 2 bedroom apartments starting from AED 42k, whilst 3 bed flats cost somewhere around AED 90k per annum. For those interested in independent accommodations, can opt for renting 3 bedroom villas for minimum of AED 130k for a built in space of about 2000 sq ft area. As for more luxurious options, spacious 5 and 6 bedroom villas are rented for AED 205k and AED 250k per year.

Although Al Barsha is wholly not freehold with exceptions of Barsha South and AL Murad Tower in Barsha I. Therefore, variety of options is much less and mostly secondary market is available for investors. One can expect to pay AED 280k for a studio apartment and AED 800k for 1 bedroom flats in Al Barsha. A regular cost for 3 bed villas is AED 2.7M offered in Al Barsha I and II. Buyers have to shell out at least AED 8M for 4 bedroom, and AED 9.5M for 5 bedroom villas in the area.

Al Barsha is the top most popular for rentals in Manazel Al Barsha, Zee Zee Tower and Al Bader Building and home to the freehold residential Al Murad Tower- where studios cost AED 570k to buy. Plus Villa Lantana by Tecom Investments offer freehold villas with stunning configurations.

Hotels

Kempinski Hotel is one of the largest and most luxurious hotels in Dubai providing direct access to Mall of the Emirates. The hotel is 5 star service venue offering world class fine dining options like Spanish Fare at Salero Tapas & Bodega, Aspen by Kempinski and Arabian cuisine at Olea. Ibis Al Barsha and Novotel Al Barsha are 3 and 4 star hotels offering numerous nightlife options like sports bars and music bars for locals and travelers.

Transportation

There is paid parking available everywhere in the area and its convenient for commuters using public transports.

Amenities

There are many schooling options for kids and smaller ones ranging from budget friendly ones to higher class learning centers applying British Curriculum, American curriculum as well as other exclusive programs. For example Kings School in Al Barsha 3 is favoured by English expats and GEMS Dubai is one of the reputed schools in Dubai is in Barsha II. Modul University Dubai is Austrian University offers fresh new flexible programs for young adults to obtain higher educations. For medicals, there is an abundance of clinics and hospital within the vicinity such as Saudi German Hospital, Aster Clinic and IMC Medical Clinics nearby.

Leisure Activities

People can go racing in the Dubai Autodrome’s professional tracks and go-karting as well in nearby Al Barsha South. Moreover, Dubai Miracle Garden is one of the great attractions housing real-life imagery of flowers, where can shoot thousands of beautiful photos. There is also an indoor trampoline park in Al Quoz and many more leisure centers are available such as art galleries and theaters in Al Barsha.

Considerations

Al Barsha is a vital part of new Dubai, relatively affordable compared to other matured areas around it, that offers great local attractions, highlighted by the Mall of the Emirates. It is well linked by road and metro, also quite easy to get in and out of, while many parts are still in the development process. The area has so much more to offer in the coming years. The only drawback that could be addressed is perhaps traffic jams and congested entry points in and out of the Sheikh Zayed road at peak hours.

DAMAC Hills by DAMAC Properties is located in the center of Dubailand conceptualizing an exclusive community made of mixed-use properties away from the city crowd. The community consists of Akoya Drive, Akoya Park, and The Trump International Golf Club. DAMAC Hills is a place for freehold high-end residentials also, one of the popular areas known for affordable villas as well. Akoya Drive is inspired by Beverly Hills and French Champs Elysees featuring high-end restaurants and entertainments available for families.  And, Akoya Park is a huge park offering villas beside waterways and walking passages in a tranquil environment.

This is a family-engaged neighborhood across unique private lodging ventures for the individuals who want to live like celebrities. Akoya Drive is setting steps higher by building a cinema, an ice rink and multiple hotel apartments for sale in the recreational corner. The main drawback of living in this sub-network is that there aren’t any metro. Be that as it may, the bus stations found close by can take occupants any place they may need to go.

The Trump International Golf Club is the highlight of the area, features signature Clubhouse with lavish restaurants, and a health club with a state of the art swimming pool. It also offers few luxury villas overlooking the 18-hole golf course being built in a higher standard.  The project was developed for hosting all sorts of event with its amphitheater and few amenities. The place is home to Paramount Hotel & Resort, Fendi and the Trump Organization.

DAMAC Hills is a peaceful area of residentials neighboring fast evolving Motor City and Remraam communities. One can find few options of affordable rentals while many different property types are presented for rent and sale. Buyers are highly interested in the area because of its few enclaves offering astounding freehold properties with good promotions.  

Properties

Those interested in renting can opt for independent villas and townhouses found in 26 sub-communities stretched over the area. To rent a 3 bedroom townhouse costs around AED 100k, similarly, 5 bedroom townhouse is AED 175 per year. Apartments rental vary somewhere between AED 20k to AED 40k for a studio and AED 51k and AED 82k for a one bedroom units whereas spacious 3 bed units range from AED 88k to AED 135k. Further, rents for 3 bedroom villas in DAMAC Hills go from AED 100k up to AED 140k annually. And AED 152k for 4 bhk and AED 178k for 5 Bhk respectively per annum on average.

Investors should be ready to pay AED 330k minimum for the smallest studio in the luxury residential apartments. The sale price of 1 bedroom flat costs upwards of AED 395k and 2 bed unit is AED 690k. Units overlooking stunning Akoya Park demands higher price. Properties in DAMAC Hilss incorporate extravagance estates available to be purchased. A common 4-bed house available to be purchased in DAMAC Villas has around 4,200 sq. ft. of floor space and 4-restrooms. One can hope to address a normal cost of AED 4.4M for these estates. The normal price tag for a house with 5-rooms in DAMAC Villas is around AED 6.3M. These manors typically accompany 7-restrooms and around 5,400 sq. ft. of floor space.

DAMAC Hills occupy few communities offering a wide selection of properties to buy or rent from. Most popular being Topanga and Pelham amongst others and followed by The Field and Richmond. The top most popular sub-community Topanga features 3-bedroom houses with an area ranging between 1,600 sq. ft. to 3,630 sq. ft. available at the price range of AED 1.3M to AED 3.1M for villas while the starting price of AED 1.4M which can go up to AED 3.1M. for 3 bedroom townhouses for sale. The second top is Pelham which is a good collection of 3 to 5 bedroom luxury houses with the starting price of AED 1.6M. For those seeking rentals, 3 bedroom townhouses are to be leased for AED 100k to AED 110k annually.

Hotels

Radisson Dubai DAMAC Hills features 5-star suites with stunning views of the golf course. The project is developed in partnership with The Radisson Hotel Group featuring a 481-key luxury hotel with amenities as promised by the signature brand. Apart from that, there are serviced apartments available for both long term and short term stays in Golf Terrace, Artesia, Carson and Golf Veduta.

Transportation

Parking is not an issue for residents. Residential buildings offer one space per apartment while villas and townhouses feature private covered parking spaces for a minimum of two vehicles. Those looking to move to DAMAC Hills (Akoya by DAMAC) would find it easier to have their own vehicle as there isn’t a public transportation system in place. Finding taxis is also quite difficult, residents and visitors will have to rely on apps such as Uber and Careem or they can book a taxi through the RTA app.

Amenities

All residentials are surrounded by lush green pathways while the community is still under development, residents will have to travel to neighbor community Mudon for groceries needs. DAMAC Hills has Jebel Ali School operating with British Curriculum currently offering schooling till Year 9. There is CreaKids Nursery for small ones following Norwegian Curriculum of high quality early education. Mediclinic Parkview Hospital is 16 minutes away which is considered the nearest to the neighborhood. Once Akoya Drive is completed, it will launch a premier retail destination.

Leisure Activities

Akoya Park is fond of activities trails including a fun life sized chessboard, jogging tracks, tennis and badminton courts and shared barbeque area inside the garden. The area has four international standard courts for tennis enthusiasts. There are several spas and relaxation centers available within the premises, though, the nearest gym is Fitness First in Mudon community which is 6 minute drive from the vicinity. DAMAC Hills hosted “Fun and Food” at the Trump International Golf Club Amphitheater through 3 days of event.

Considerations

DAMAC Hills (Akoya by DAMAC) is a quiet and peaceful area that is far from places therefore it is rather suitable for people with own vehicles.

Dubai Sports city is home to International Cricket Stadium and Els Club, is a mid-range mix of villas and apartments complex community and one of the top freehold areas in Dubai. As its name suggests, living in Dubai Sports City tends to be perfect for sports fanatics who follow active lifestyle. There are a number of amenities dedicated to fitness and sports as well as fully equipped gym and swimming pool well instated in each of the apartment buildings. The area is wholly budget friendly and suitable for younger expats with private conveyance as the public transportation is not effective yet.

Properties

Residential properties for rental and sales come in a variety of choices of configurations and styles, ranging from studio to 3 bedroom flats, stylish contemporary and modern Arabic designs- perfect for singles and growing families.

Elite Sports Residences is the most popular amongst furnished rental apartments in Dubai Sport City. The complex is consist of wholesome different towers across the community, all offer premium facilities including swimming pools, gym and more. One of the advantages of buildings in this neighborhood is plenty of free parking spaces for residences and visitors. Some of the rather popular high rise towers are namely Canal Residence West, Giovanni Boutique Suites and Red Residences.

Buying properties in Sports City is relatively wallet friendly compared to other newly established communities in Dubai. For example, one can buy a reasonable studio for AED 300k in Hera Tower, similarly, rental could be as low as AED 30k per annum plus one month free for a one bedroom unit in one of the towers. Mid-size studio flats within a range of AED 25k are offered in Elite Sports Residence. Royal Residence and Spirit Tower are few of the top buildings in Sports City to rent studios spanning around 325 sq. ft.

The average cost of a studio apartment is around AED 24k for a space range from 350 sq ft to 550 sq ft. Cricket Tower offers generously sizes studios at annual rent of only AED 24k. Cricket Tower is 15 story building features 140 residential flats preferably for younger expats. Other options for budget friendly stay in Sports City include 1 bedroom apartment at AED 26k but rents may vary depending on the floor it’s built on, which location and building’s view as well as coveted space. For bigger units like 2 bedroom spanning 900 sq ft could be rented at AED 51k while 3 bedroom apartments are about AED 70k.

Victory Heights and Bloomingdale are gated villa and townhouse complexes offering 3-6 bedroom villas ranging from 2,300 sg ft to 3,300 sq ft. The average rent for a villa would be AED 110k for a 3 bedroom in clusters like Gallery Villas. Furthermore, 4 bedroom villa is averaging at AEd 130k annually- for that Victory Heights and Bloomingdale have numerous options for such units. For larger families, rents may go up to AED 197k for spacious 5 bedroom villas and AED 300k for luxurious independent 6 bedroom villas in Dubai Sports City.

Investors can find reasonable properties in Sports City. The average asking price of a studio unit is about AED 334k while that of a 1-bed flat for sale in Sports City is AED 486k. For an average of AED 750k, you can buy 2-bedroom apartments spanning around 1,200 sq. ft. Olympic Park and Global Golf Residence are considerable options for such properties offering unparalleled views of the golf courses. For more spacious apartments like 3-bed flats in Dubai Sports City, you will need to shell out around AED 974k, on average.

There are a series of commodious residences with private parking and generous outdoor area in Dubai Sports City. Buying a townhouse of 3 bedroom in a closely knit community would cost AED 1.8M while 4 bedroom townhouse may cost minimum of AED 2.2M. Likewise, depending on the coveted space 4 bedroom villas cost range between AED 1.8M and AED 2.4M. Also depend on the date of construction and grades, more spacious 5 bedroom villas may cost AED 3.9M and buying more luxurious 6 bedroom villas could cost up to AED 9M.

Top 5 projects in Dubai Sports City are Elite Sports Residence, Royal Residence, Victory Heights, Global Golf Residence and Canal Residence West. Elite Sports Residence leads the list with its 10 towers with over 3,000 residential apartments with configurations of studios to 3 bed flats. Some of the towers have magnificent golf views and prices vary. Lowest one can pay for renting an apartment would be AED 18k per year for a studio, which might be the most affordable not only in Dubai Sports City also in the whole Dubai.

Second top is Victory Heights, home to a notable educational institute, is a cluster community of independent villas. It’s a gated community offering family friendly atmosphere contains 1,000 units of 4-6 bedrooms including superior amenities within easy reach.

Another one is Royal Residence offering golf course facing studios, 1-bed and 2-bedroom flats. The 15-storey mid-rise project is considerable if you are searching for the best buildings in DSC to rent 1-bedroom apartments.

Hotels

There is Ghaya Grand Hotel, 5 star hotel offering elegant rooms provided luxury long stays. The location of the hotel is only 5 minute walk from City Center Me’aisem and short drive to The DWC Airport.

Treppan Hotel and Suites by Fakhruddin is a budget friendly option at 4 star service consisting of residential style amenities and accommodations.

Transport

There is a good amount of covered parking spaces for the cars, however, there aren’t any metro station nearby. The community is linked with two bus stations where bus route F29 depart from and shuttles to Mall of Emirates and Internet City station.

Amenities

There are big supermarkets, Carrefour and Al Maya in Sports City whereas neighbor Motor City has bigger outlets of Spinneys and other markets. For the little ones, there is The Wonder Years Nursery is operating and Victory Heights Primary School is a notable school within the area, also University of Balamand is in Dubai Investment Park which is 10 minutes away.

Leisure Activities

Sports City is a place for sports enthusiasts and one-stop-shop of fitness need. Dubai International Cricket Stadium is a highlight of the community. It can host an audience of 25,000 making it ideal for hosting festive events like concerts and celebrations, as well. Dubai Sports City is also home to the ICC Academy, an internationally recognized cricket academy a

Considerations

The community is quiet, peaceful and pleasant, thus, has several major projects are resulting in noise and little inconvenience. Nearest metro is about 20 minutes of driving which makes it hard to get around unless driving, however, more buses are projected to serve throughout the area.

If you would like to get more information on leasing and buying apartments as well as market prices in this area- Kindly contact us for a free consultation at 800-TEXTURE or Whatsapp at +971-50-8091186.

Investing in a rental property means obtaining a house or a commercial space for the purpose of generating revenue in the form of rent. Without a doubt, rental property investment is a great way to generate monthly cash flow for beginners. But, on the flip side, many investors find it very challenging to maintain due to miscellaneous expenses like renovation works and taxes, property market gaps, and property management. In contradiction of how books and conventional wisdom try to tell, investing in real estate for a passive income is not easy, in fact, it is one of the most time-consuming forms of real estate investments.

Is rental property a good investment

Should it be a good investment to buy a rental property? Mostly yes. Real estate is a capital making machine that has been there for centuries. The rather common method of the same kind of investment is “buy and hold” or more known as buying and renting out to pay down the mortgage every month. Basically, buy and hold investors build wealth with some cash for the initial installment of any type of property then recompense monthly payments from their rental incomes. One of the advantages is that during the time, principal balance of the mortgage payment is decreasing and it’s increasing the equity. It generates income while it offers tax benefits and growing a capital from price appreciation for years.

Buying rental property is one of very few practical investment in a sense you can live in or opt for renting to produce passive income. You can also sell the property at higher price than your investment to make a larger income, if you make a correct decision and analysis. To get the optimal result, one needs to get priorities checked and decide how much time to devote to the endeavor and decide whether he can solve the problems on own. One must know all the risks associated to rental property and know other ways on how to monetize the rental property. There is a lot more than just mortgage expenses to take into an account. It is important to know the two types of appreciation- rental and property value, and how it affects the rental property investment.

Turnkey rental properties

Turnkey rental properties is an approach to buy a fully setup property that is ready to live in or rent out. This is a highly appealing method perfect for investors who prefer hands off property management and to enjoy the investment returns without obligations to a various sort of work. A third party property management company, like Texture Properties will be wholly responsible for the property management that the owner no need to be involved in anything from renovations to market research. The Property Management company will be resolving the tenants’ issue, maintenance job and even collecting the rentals on time. This approach could pose many advantages besides getting the business done smoothly for the first time investors who might not be able to see the profitability of their property.

Investing in real estate rentals is not a get rich quick arrangement, it requires time and knowledge of certain deals. As we analyze the deals carefully, and ensure to perfect it, the real estate becomes a solid long-lasting business. Good education in the field and good source of information up to date would save from making a critical mistake. Bear in mind, it is hard to operate solo, therefore building a network or finding a partner is a great way to jump start. Learning from the experienced ones or finding a mentor is one of the vital steps you can take in gathering information. Get engaged into community portals or groups of buying rental property in Dubai to gain more elaborated information.

First step to take upon purchasing a property for rental purpose is to simplify the process of generate a second income, which otherwise can eat up a lot of time for doing things that’s not worthwhile to devote. Rental property company will do all the heavy lifting in such to avoid spending further expenses or precious times. The property management company will guide you from buying a rental house to renovate and manage and lastly how to deal with tenants and contracts properly by certain strategies.

Next step is to do plenty of market research to find out the suitable area or community to invest in- that is the best within budget and best yield of return assured. However, most of good property management companies already know the best spots of the market with their extensive research and expertise. These companies should advice when and where to invest in which market for more sustainable investments. It immediately saves client’s plentifully money as well as energy from finding properties that are well located and physically sound in a market where development is heading.

Property management companies purchase properties in bulk including REOs (a property belongs to a bank when it fails to be repaid or a sale) with good prices. They close deals quickly with cash and usually better at pricing. Also they have their own renovation team perhaps do the maintenance costs less than regular costs.

Lastly, to manage multiple properties in a proper way, one need to hire professionals such as brokers, contractors, accountants, loan officers, attorneys, etc. to name a few, which is then difficult for an investor to do on his own. Instead it, a property management providers have on-going associations with these professionals, which ensures that property is ran in the most sufficient way. Besides, all the advantageous assistance property companies could provide to a client, one last important note is that they can help the client with financing as well, exploiting good relations with financial institutes as well as Banks.

Final Word

Being realistic in the expectations is important. A rental property isn’t going to harvest a high yield and monthly paychecks right away, especially if it’s the wrong property in a less appealing community could be a catastrophic mistake. Therefore, it’s best to always consult a professional if you are a first-time investor in the area. If you are interested in rental income, Texture Properties is happy to consult you in any manner with expertise.

A prevailing hot subject for many people whether they are relocating or not relocating is that if it’s the time to buy or keep renting. Especially, if you are an expatriate, according to a recent study 30% of your salary goes to be spent on renting accommodation. Most expatriates in their first year of assignment, due to uncertainty, opt for renting right away. Particularly, when ex-pats come to a new country they must settle in somewhere before jumping to a grand calculation of buying a home, or at least they need six months of residing before they can apply for a mortgage in most of the countries around the globe.

There are several factors to consider to make a such decision, some of the factors include market volatility, financial options, and of course the length of the stay in the foreign country. Perhaps the biggest factor to date for evaluating buying vs renting a home is the number of years to commit in the place and the job stability. Committing to paying a mortgage for an extensive period of time with some uncertainty is extremely inconvenient. On the other hand, a low level of effort and flexibility are the main advantages of renting a home instead of purchasing for ownership. Owing to these somewhat obstacles of buying a property, rental demand goes notably higher amongst ex-pats and consequently equation produced as if what is used for the total installment of buying to own a house in Dubai becomes almost as same as renting it for a few years.

In case, where one decides to become an owner of a property, first, down payment which is usually 15%- 25% of the total price has to be cash borne for the buyer not to even include other fees such as commissions and administrative fees. If this cost is easily funded by the buyer, in a long term, good thing is that not only will the buyer become a proud owner but also able to rent it out as soon as the contract is issued- therefore able to generate return of investment immediately.

Now this may sound like a YES to buying a property. Many property experts say “If you can afford it, buy it”, unfortunately, this assertion is quite misleading and doesn’t have to be true all the time especially market is not mature yet. Real estate is a great investment when the market goes up steadily every year or every 5 years – equilibrium line to coup up the costs, provided that other aspects are little. Unfortunately, the market doesn’t continually grow and losses happen if the owner has to sell the house during the down time. It is far greater loss than gaining any profit from the money from just saving in the bank.

Another factor is the flexibility matter when assessing buying vs renting an apartment or a villa. A rental contract is usually for one year what has it been witnessed through past years in Dubai is which there is no sign of contract on most of the leases if someone sublease an apartment. This gives a tenant likelihood of flexibility to change the apartment anytime with any reason to move somewhere else, while, the owner would not find it straight forward to change the locality or the place if they don’t like it.

To calculate and discuss about property payment and what’s underlying with it one must have the first installment 20% percent of the desired house value in cash, plus additional 8% for various fees of handling charges. There is a service charge for the property every year as well for some of properties. When we want to break down the actual payment analysis, we assume the period of Return of Investment as 5 years. With the mortgage of 25 years (as average) and mortgage interest rate is 2.7%. (on average). Let’s say yearly rent is AED 96,000 and total cost of the property is AED 1,100,000 and down payment is 20%= AED 220,000 and tenancy plan of 5 years. While calculated the buying fees, note there is an agent fee (AED23,100), land department fee (AED 44,580), registration trustee fee (AED4,200), mortgage valuation fee (AED3,150), mortgage processing fee (AED4,620), mortgage registration fee (AED 2,200) and knowledge fee (AED 290) all included in the total buying cost. To calculate the cost of renting, we add one-time agent fee and Ejari fee on top of the rental fees. When we do the calculation, total buying cost over 5 years is AED 324,420 and total rental cost equals to AED 486,015, which implies it’s 33% cheaper to buy the property than renting when the tenancy is over 5 years or more.

Financial Considerations

If one wants to buy his own property, he might have to apply for a mortgage unless he wants to pay the whole amount in cash. When it comes to the down payment of purchasing a property the maximum LTV (loan to value ratio) for expats is 75% as per UAE Central Bank Guidelines, if property’s value is under AED 5Mil. and it’s their first mortgage. If the value is higher than AED 5 Mil. LTV could go down to 65%. Then, expats need to pay an interest on the loan amount, also, there is some service charge paid to the management of the building. Not to mention that, there is still small costs for maintaining the property to fix damages if there is any.

In Conclusion,

There could be a number of other reasons affecting the decision to buy over renting, or vice versa, based on nature and circumstances only the buyer will decide what is better to do. In the Dubai context, the rules and regulations are almost changing every day, Dubai residency policy is shifting to the favor of expats. Many are on the fence while comparing buying vs renting in Dubai, home prices hit the low in 2021, which implies now is very much the time. Nevertheless, uncertainty and lack of information could arise a drawback, therefore, always consult this through with licensed professionals in the field.

If you are looking for a home in Dubai, regardless of where you land on the rent vs buy decision, TEXTURE is happy to give you a professional consultation. Call us at Toll-Free 800-TEXTURE or drop a WhatsApp message at:  +971-50-8091186.