If you are looking for the ultimate luxury living experience in Dubai, look no further than Palm Jumeirah. Pristine sea views, a never-ending lavish lifestyle, and easy access to endless activities are just some of the perks of living in this paradise-like playground. Palm Jumeirah, which locals call plainly the Palm, offers the very best of modern living. Designed in the shape of a date palm, Palm Jumeirah is a part of a bigger development called the Palm Islands and is well-connected with the mainland through the main road. In other words, you will be far away from the crowd yet well connected to all the major attractions in Dubai. Why Palm Jumeirah? Located centrally in Dubai, Palm Jumeirah is one of the most desirable addresses for people looking for an apartment or a villa, especially if you want unparalleled views of the Marina skyline and the mainland. It offers several different types of luxurious properties, including villas, apartments, and townhouses, ranging in style, size, and setting. Most of the villas and apartments here offer residents direct and easy access to pristine beaches. Living here means you will never be far from the beach and wake up every day to the azure beauty of the Arabian Gulf. Palm Jumeirah residents enjoy access to top-class amenities and facilities. Restaurants and cafes sit alongside spas, swimming pools, parks, health clubs, watersports facilities, and gyms. Palm Jumeirah also boasts of vibrant and exciting nightlife, thanks to several clubs, bars, and hotels in and around it. Main Features Some other reasons for investing in a property in Palm Jumeirah While Palm Jumeirah villas offer amazing views of the Arabian bay and pristine beaches, its high-rise apartments go a step further. If you opt for the towers, you can enjoy spectacular views of the Arabian bay and unparalleled views of the Dubai skyline. In short, if you are someone who wants it all, a Palm Jumeirah apartment is perfect for you. When people think of buying a property in Palm Jumeriah, they automatically assume that it will make a large hole in their pocket. But that is not necessarily the case. Many Palm Jumeirah apartments are quite reasonably priced, even though they offer great amenities, including 24-by-7 security, quick access to local amenities, easy access to the beach, and a slew of entertainment and dining options. Because Palm Jumeirah is such a sought-after address, perhaps the most desirable of all addresses, in Dubai, renting or selling a property is no hard work. That means if you are looking to build a profitable asset, a property in Palm Jumeirah is a great option.

The fortune of the Dubai property market changed for good in 2021, but the good run is far from over. In fact, all trends confirm that the Dubai real estate market will continue its uptrend and the positive momentum even beyond 2022. As far as the first half of 2022 is concerned, the growth has been impressive, to say the least. The first half of 2022 recorded no fewer than 43.2K transactions, having a total value of AED 115 billion June was the best month in the first half of 2022 by a country mile. As a matter of fact, June recorded the best sales figure since 2009, which is saying a lot After recording an increase of a whopping 23%, real estate prices in the first half of 2022 averaged at AED 1,140 per sq foot The top-ranking communities in the first half of 2022 are Business Bay, Al Hebiah Fifth, Dubai Marina, Downtown Dubai, and Jumeirah Village Circle. While real estate transactions registered an increase in virtually every community, these communities registered the highest number of transactions in the first half of 2022 Apart from these names, other top-performing areas are Dubai Creek Harbor, Al Merkadh, and Palm Jumeirah. All these communities produced significant results, which augur well for the future of the Dubai real estate market If you look at year-on-year growth, data confirms that the Dubai real estate market has come into its own. The first half of this year concluded on an exceptionally strong note, recording a staggering 43.2K transactions. The total value of these transactions is estimated to be AED 115 billion. The sales volume registered a jaw-dropping 60% growth on a year-on-year basis, which is great going any way you look at it. In terms of the sales value, the growth is even more significant. In the first half of 2022, the sales jumped by almost 88% on a year-to-year basis. The growth was quite evenly distributed across the first six months, but it was June that recorded the highest sales volumes. Compared to 2021, June 2022 recorded an unparalleled 41% growth in sales volumes, breaking a 13-year record. As a matter of fact, June 2022 was the best month for the Dubai real estate market since 2009.  All types of residential properties saw a surge in the demand. For instance, the apartment niche registered 5,880 transactions in the first half of 2022. These transactions are valued at roughly AED 11 billion. The villa segment, which is especially popular among rich expats, recorded roughly 2,000 transactions in the first half of 2022. The total value of these transactions was AED 7 billion.   It is not just the sales transactions that went up in the first half of this year; the average property rates also saw a significant increase.  The average price per sq foot is now AED 1,140, which is an increase of 23% on n year-to-year basis. While there is no doubt that the first half of 2022 has been great for Dubai’s real estate market, in the light of global headwinds, the question on everyone’s lips is whether the second half will be just as impressive. Expethkkknion that the growth will not slow down, despite the global recession. For sure, Dubai is not immune to negative global trends, but Dubai‘s real estate market is in robust shape and very popular among foreign investors.  Because of these positive factors, Dubai’s property market will be able to perform much better than other real estate markets in the near future. Also, the impressive first half is a strong indication that Dubai’s property market is well-placed to meet global challenges. All in all, the Dubai real estate sector will continue the upward trajectory and is very likely to end 2022 on an even better note. Top performers in the First Half of 2022 When it comes to top-performing areas of the first half of 2022, Business Bay leads the pack, recording a total of 4,310 transactions. On a year-to-year basis, Business Bay recorded a staggering 117% jump. Dubai Marina is placed second, with a total of 3,735 transactions. Other top performers include Al Hebiah Fifth (3,150 transactions), Jumeirah Village Circle (2,900 transactions), and Downtown Dubai (2,585 transactions).

Palm Jumeirah is nothing short of a paradise-like playground for people who wish to live away from the hustle and bustle of a city yet enjoy all modern amenities. Palm Jumeirah is a man-made island in Dubai, often called the eighth wonder of the world, which offers unparalleled sea views, a never-ending vacation lifestyle, and a host of activities. If you are looking for a location for your dream home in Dubai, you simply cannot beat the charm and luxury of Palm Jumeirah. In this post, we will discuss some of the most important things that make Palm Jumeirah an ideal location to live in Dubai. Let us dig in. Best in Beachfront Living We have said it before and we will say it again: Beachfront living does not get better than Palm Jumeirah. If you are someone who wants the best of living close to the sea in total comfort, look no further than Palm Jumeirah, which is bounded by the majestic Arabian Gulf on three sides. It would be no exaggeration to say that world-class beachfront living is the best benefit of staying in Palm Jumeirah. Because it is an island, each property here offers pristine ocean views, with many residential properties offering direct access to the beach. Palm Jumeirah also has apartments in high-rise buildings, meaning people living there will enjoy miles upon miles of uninterrupted views of the Arabian Gulf and Dubai’s skyline. Wide Range of Residential Properties In Palm Jumeirah, you will find a wide variety of townhouses, apartments, and villas. Estimates suggest that there are roughly 2,500 single-family homes, which includes the villa units that several projects offer. Most offerings are larger apartments and penthouses, but some complexes offer villa units as well. As far as the architectural style is concerned, ultra-contemporary is very popular, but it is possible to find other styles as well.  In other words, regardless of your personal preferences, you will find a home suitable to your needs and taste in Palm Jumeirah. Almost all projects have their own private beach, which is great news for every beach lover. But that is not all. Most projects also boast an associated beach club, which usually features awesome swimming pool decks with excellent sunset views and includes a gymnasium, several options for food and beverage, many retail options, and spacious landscaped spaces. To put it simply, Palm Jumeirah’s iconic location and majestic sea views make it one of the most popular residential areas in Dubai, especially among foreigners.   As far as the property prices are concerned, that depends on various factors, including the following: Where the home is located in Palm Jumeirah Whether the home is new or old Whether the home has been upgraded and renovated Whether it is a villa, townhouse, or apartment The architectural style of the home In general, residential properties in the Palm are quite expensive since it is a highly coveted prime location.  Apartments are obviously more affordable than villas that often sell for dozens of million Dirhams. If you are interested to know more about current and future properties for sale available in Palm Jumeirah, then do not hesitate to contact Ellington Properties and we will be glad to help you find the ideal apartment or villa that suits your needs and budget. Luxury Amenities When it comes to luxury amenities, Palm Jumeirah beats all other locations in Dubai to the punch. The entire area has a feel of a top-class resort, thanks to a number of luxury hotels located here. There is no shortage of world-class restaurants, either. If you are someone who places a high value on great dining experiences, you will be spoilt for choice in Palm Jumeirah. Other major destinations include various malls, perhaps the most popular being the Nakheel Mall, which not only houses a cinema but also boasts a children’s playroom, besides a wide range of premium retail outlets.  The Nakheel Mall also is home to a truly unique and remarkable food hall. Another mall worth a mention is the Pointe, a waterfront shopping mall with no fewer than 80 restaurants, world-class attractions, and the world’s largest dancing fountain.

Investing money in Dubai real estate can be a smart decision when done correctly. That said, for a beginner, taking the plunge is quite stressful. But things do not have to be this way. Regardless of whether you wish to invest your hard-earned money in an off-plan project or buy a ready-to-move-in property, a sound knowledge of the basics is a must. And this is where Ellington Properties’ expertise comes in. No one knows better than us that investing in real estate can be nothing short of a daunting task for beginners. For this very reason, we have prepared a list of things you should be mindful of when investing in Dubai’s Real Estate. Have a look. Timing is Everything Whether you are a short-term or long-term investor, timing is the key. And right now is a great time to invest in real estate in Dubai. Why? Glad you asked. It is hardly a secret that the Covid-19 pandemic was not good for the global real estate market in general. Dubai handled things a bit differently. In fact, things have shaped up pretty nicely for Dubai’s real estate sector since the outbreak of the pandemic. That is partly because of Dubai’s strong image as one of the best places to live in the world and partly because of the timely and decisive steps taken by the UAE government, not to mention Expo 2020 which proved to be a huge success. Long story short, Dubai’s real estate market is all set to grow handsomely in the coming years. If you invest right now, you can expect great returns. Having said that, not all residential areas in Dubai are the same. Some are expected to yield better returns than others. Therefore, it is important you pick a good location. Location As said above, location plays a vital role in deciding a property’s value. What’s more, it also plays a big role in predicting the returns the said property is likely to deliver in the future. You may want to pick a property in a location that is very easily accessible, offers modern amenities, and is near to hospitals and educational institutes. Another thing you may want to look at is the kind of lifestyle the selected neighborhood offers. Investing in a property in a neighborhood that offers a modern, upscale lifestyle may give you better returns. So, which are the best locations in Dubai for real estate investing? Palm Jumeirah, the amazing man-made island that is billed as the eighth wonder of the world, is perhaps the most popular location among global investors. It offers world-class beachfront living, along with access to all modern facilities. Buyers will find a variety of apartments, townhouses, and villas in this part of Dubai. The majority of offerings in this part of Dubai are apartments and larger penthouses, but there is no shortage of villa units, either. Besides Palm Jumeirah, Downtown Dubai is another great location for investing in real estate. Downtown Dubai is famous for spacious and elegantly-designed apartments. Its vibrant nightlife and superb location make it a great place to live in for singles. That said, it is also home to some of Dubai’s top schools and as such is an ideal place to raise a family as well. The Mohammad Bin Rashid (MBR) City is also an option worth looking at if you are interested in investing in Dubai’s real estate. Well-connected to all major parts of Dubai, the MBR City offers a wide range of residential properties and has an impressive appreciation potential. For more information about great locations to consider for real estate investments in Dubai, do not hesitate to contact Ellington Properties and we will be happy to assist you. Look at ROI Here’s the thing: If you are buying a residential property for investment purposes, the most important thing to consider is the profit it is likely to generate for you. That means if you are thinking about investing money in residential development, you must factor in the rental income and capital appreciation the property will produce in the future. Because properties situated in popular locations offer a lot of benefits to the residents, they will likely produce better rental yields. This, in turn, makes them more attractive for investment purposes, especially if you do not plan to sell the property you are investing in any time soon. Pick properties developed by well-known brands Picking a branded development is a smart decision because investing in top brands such as Ellington Properties is generally considered safe and is likely to generate a good return on investment. Want to learn more about exciting real estate investment opportunities in Dubai? Contact us today and one of our consultants will be ready to assist you.

Dubai summers are infamous all over the world — the temperature breaches 50 degrees Celsius and humidity is stifling. While you can’t do anything about the temperature outside or stop all the sun’s rays from reaching your apartment or villa, you can take concrete steps to cool down your home this summer. Here are some tips to cool down your Dubai home: 1-Ensure the AC is in perfect order The air conditioner is your best friend during the summer months. It bestows cool air on you and your family. But keep in mind that not all air conditioners are the same. Many experts believe mini splits are more efficient at cooling an indoor space than traditional HVAC cooling solutions. Since mini splits, usually, use less energy than their window counterparts or a central air-conditioning unit, you should consider them if you are looking for a new cooling solution. That said, regardless of which type of air conditioner you have, it is important that you ensure it is in top shape before the arrival of summer. That means getting your air conditioner serviced by a licensed HVAC professional. Also, make sure the air conditioner is not low on refrigerant, because then it will not be able to cool your home properly. If the refrigerant level is low — some mini-splits automatically alert you when this happens — get the refrigerant refilled immediately. Last but not the least, check the air filter at least once every month to ensure it has minimum dust inside. 2-Test for Ventilator Leaks Ensuring that cool air is not leaking from your home is just about as important as keeping your home cool. Hot air can enter your home through cracks near doors or gaps in the windows and dramatically increase the indoor temperature and nullify all the hard work your AC does.  Ensure the ventilation units don’t have any leaks; even a minor gap can make the temperature inside rise by a few degrees. If you find some gaps, seal them immediately to beat the Dubai heat wave. You should also consider getting your windows tinted. This doesn’t cost much money but can go a long way in keeping your Dubai home cool during the summer months. 3-Get some indoor plants If you have an apartment, consider getting some indoor plants to beat the heat. If you want to cool your home, just any plant won’t do. You need home plants such as sansevieria, cactus, aloe vera, and bonsais. If you live in a villa, plant more shrubs and trees to keep the surroundings cool. You should maximize the garden space by installing more plants and arranging them in such a way that they properly shade the façade of your house. Properly positioned trees and plants can help you a great deal in keeping your Dubai home cool in the summer months. 4-Throw away the incandescent bulbs Did you know that indoor lighting can also elevate the temperature inside? Incandescent bulbs are cheaper than LED light bulbs upfront, but they have a far shorter lifespan. Plus, they heat up very quickly, which in turn elevates the indoor temperature. Since LED light bulbs generate minimal heat, they are the best choice if you live in a hot region like Dubai. 5-Unplug devices, if not in use A plugged-in device radiates some amounts of energy, which can increase the temperature inside your home. Therefore, make it a point to unplug any device if it is not in use. 6-Get creative Summer is the right time to don your thinking cap and become creative. Do some DIYs to beat the heat. Here are a few examples: If you use table fans, why not place an ice bowl in front of it to ensure it blows cool air? Make your favorite summer refreshments to keep yourself hydrated Invite your best friends and enjoy an ice-cream party indoors Last but not the least, take multiple cold showers in a day (if possible), a quick dip in the cold swimming pool, and drink plenty of fluids. Your Dubai home is the place where you will likely be spending a lot of time during the summer months if you don’t plan to go on vacation. Follow these tips to keep your indoor space fresh and cool.

Dubai’s residential market had a great last year. But the party is not yet over. All signs indicate that the good run will continue in 2022 and beyond. Obviously, this is awesome news for all those who want to invest in Dubai real estate. Dubai’s property prices will keep on rising in 2022, which is in line with what happened in 2021. The same holds true for rents in the residential market, which will continue rising this year. According to real estate experts, the Dubai’s real estate market will see moderate increases in property prices and rents in 2022. Thanks to these encouraging signs, more new projects will get launched this year. It’s no secret that the global pandemic caused a slowdown in the real estate markets across the world. Dubai’s real estate market was no exception, but things have shaped up nicely since then, much thanks to UAE’s strong economy and various positive steps taken by the government to boost the property market. Some other developments that augur well for Dubai’s real estate market future include: Geopolitical tensions in Eastern Europe will strengthen Dubai’s reputation as a safe haven, which in turn will boost the demand for residential properties further High oil prices will ensure that investors’ sentiment in this region remains positive A wide range of properties, ranging from luxurious penthouses to ultra-modern apartments, ensures that all types of investors can find a suitable property in Dubai On the back of a buoyant economy, it’s easy to assume that 2022 will be as good a year as 2021. While things are moving in the right direction, that is not likely to happen in the exact same way. 2021 was an exceptionally good year, with real estate prices rising by a whopping 60%. Also 2021 was the year of Expo with all its massively positive impact on the UAE’s economy overall. In 2022, the real estate prices will continue to rise, but the increase will not be as much as it was in 2021. Despite a substantial rise in real estate prices in 2021, real estate properties in Dubai are still relatively affordable. Even now, the prices are 25% to 30% less than 2014 levels. This is another reason behind the surge in demand for residential properties. With that said, which are the best areas for buying a residential property in Dubai? Or are all areas giving similar returns? As expected, some neighborhoods posted better numbers in 2021 and the first half of 2022 than others. Leading the list are locations such as Palm Jumeirah, Downtown Dubai, MBR City, and JVC. As a matter of fact, Palm Jumeirah apartments registered an impressive 4.2% increase on a month-to-month basis in May, 2022. Villa prices in Palm Jumeirah — often billed as the Eighth Wonder of the World — rose by 5% in May. Properties in MBR, JVC, and Downtown Dubai have posted similar increases. The fact that these regions continue to be popular among global investors is not surprising. After all, all these regions offer great amenities and a range of real estate properties to choose from. For example, you will be hard pressed to find a better beachfront lifestyle than the one Palm Jumeirah offers. Each villa in Palm Jumeirah has private beach access. Apart from amazing villas, buyers can invest in penthouses and townhouses in Palm Jumeirah. Living in this part of Dubai is an experience unlike any other, much thanks to the combination of a calm beachfront ambience with a thriving lifestyle. Downtown Dubai, in contrast, is known for spacious and superbly-designed apartments. It is the perfect place for both families and singles. The area boasts of not only a vibrant night-life, but it has also many top schools. Some of the best bars and dining options in the entire Dubai are located in and around the Downtown area. What’s more, since it is near Jumeirah Beach, it is also an awesome location for beach lovers. Like Palm Jumeirah and Downtown Dubai, other areas mentioned in this post also have a lot going for them. All these locations are ideal for both residing and investing. And since experts are of the opinion that Dubai property prices will continue to rise in the latter half of 2022 and over the next three to four years, now is a great time to invest.

Moving to Dubai but can’t decide whether you should rent or buy a home? Do not worry, we have you covered. Choosing to rent or buy a home in Dubai is a very important, yet sometimes difficult, decision. This decision will impact your lifestyle, besides affecting your medium to long-term financial health. There are unique advantages and disadvantages to both, and by the end of the article, you will be easily able to make an informed decision. In this post, we will walk you through the pros and cons of buying and renting an apartment in Dubai so that you can pick the option that works best for you. So, let’s get started! Buying an apartment in Dubai: Pros and Cons Buying an apartment in the global hub called Dubai is something that appeals to a variety of people. Since a residential visa is not needed, expats can easily buy a property in Dubai. The main advantage of buying a home in Dubai is that it will allow you to acquire an asset that accrues value over time. With the Dubai’s real estate market being in great shape and expected to go from strength to strength in the near future, owing a property can be a smart investment. Buying a property can also be a better option for those searching for a primary residence or a holiday home and not necessary looking to build wealth. Dubai offers a wide range of choice as far as residential properties are concerned, meaning you can easily find something appropriate for your lifestyle. Another benefit is that owning a property gives you the complete freedom to personalize it according to your specific tastes and needs. Last but not the least, ownership can pave a way to establish residency in the country. You can receive a UAE residency if you purchase a residential property in Dubai worth at least AED 1 million. Keep in mind this residency comes with an end date, which is either five or three years. Once the term ends, you must renew it if you want to continue staying in Dubai. But since rules may change, it’s a good idea to always keep an eye on the latest updates regarding this. While buying a home is a better long-term financial decision, it may not be the best option for everyone. If you are on a work visa or know that you will not stay in the UAE for long, then it makes more sense to rent a property than buy one. Renting an apartment in Dubai: Pros and Cons Renting a property is easy and there are endless options available. Regardless of your budget, lifestyle, or personal preferences, you are sure to find one that is perfect for you. Whether you are interested in fully-furnished apartments, new residential units, or luxury villas, you’ll find a broad range of rental options in Dubai. The main advantage of renting a property is that it’s more affordable. You don’t have to worry about spending money on a down payment or securing a home loan. If you are on a tight budget or don’t like the idea of spending all or most of your savings on a home, renting a property can be a far better choice. Also, fully-furnished apartments can be an attractive choice for new comers. They can easily move into such a unit instead of worrying about buying furniture and appliances to fill a home from scratch. Another benefit is that you have the freedom to reside in different areas, without having to make any long-term commitments. In contrast, buying a property can kill your freedom. Let’s say you purchase a property in a particular area in Dubai but a couple of years later realize you would rather live in some other part of the city, shifting can be quite difficult (if not impossible). Renting allows tenants the freedom to live in different areas, or even move year-to-year if they wish, without making any long-term commitments. Conclusion Whether you want to rent or buy a residential apartment in Dubai, you can do so easily. Buying an apartment can be financially more viable in the long run, especially if you can comfortably afford the initial down payment. However, if you are on a budget or are not likely to live in Dubai for long, renting a property may suit you better.

When it comes to real estate investments, Dubai is a popular choice among investors, especially those looking for beautiful apartments and luxury villas. Dubai has emerged mostly unscathed from the economic downturn which negatively impacted most real estate markets. The real estate prices here have started rising again after a hiatus of six long years, but the most encouraging news is that most experts believe this trend is here to stay and will only get stronger hereafter. For sure, the opening of the international border post-covid has played a big role in the real estate upsurge. As soon as the government reopened the borders, investors from all over the world have shown a lot of interest in investing in the UAE and Dubai in particular.  So, is it a good time to invest in Dubai’s property market? If the real estate trends for Q1 2022 are anything to go by, the answer is a resounding ‘YES.’ In this post, we will give you the lowdown on the most recent Dubai real estate statistics, besides sharing the outlook for the rest of 2022 and beyond and the best places to invest in a property in Dubai. Dubai Real Estate Trends for Q1 2022 First things first, the going has been simply great for Dubai’s real estate market in the first quarter of 2022, with the total transaction volume crossing 7,800 in March. That’s an increase of a whopping 83.5% on a year-to-year basis. According to experts, the Q1 2022 is the record first quarter as far as the total transaction volume is concerned. What’s more, the off-plans sales saw an uptick of a staggering 94.6%. The secondary market sales saw a massive increase as well. In the Q1 of 2022, the secondary market sales increased by an impressive 76.1%. The average property rates also saw an increase during the first quarter of 2022. They rose by almost 11% on year to year basis. While the average villa rates increased by roughly 20%, the average apartment rates were up 10%. This just proves that now is the right time to invest in real estate in Dubai. If you pick a favorable location, you can expect a 10% return on your investment in just a year, which is not shabby at all.   So, which are the areas that recorded the highest average sales rate per square foot in the apartment and villa segments? In the former segment, Downtown Dubai has come on the top, whereas Palm Jumeirah leads the pack in the latter. The average rents have also seen an uptick this year. Compared to last year, the average rents have gone up by nearly 13%, with villas becoming more expensive by roughly 22% on average and apartments by 11.7%.  Palm Jumeirah commanded the highest average annual villa and apartment rents in the first quarter of 2022. On average, the annual rent in this part of the Dubai was $53,766. What’s the forecast for the rest of 2022 like? These favorable trends will continue in 2022, according to experts. There are many reasons why real estate pundits are highly optimistic about Dubai. These include, among others, the following: Robust economy Affordable mortgage rates Favorable tax policies High return of investment (ROI) While many real estate markets are slow in recovering or still in downturn, Dubai is a welcome exception. Thanks to many reforms proposed by the government and the trust shown by global real estate investors, the Dubai real estate market is expected to go from strength to strength. Which are the best areas in Dubai for investing in real estate? Some of the top locations for investing in property in Dubai are as follows: MBR City – Located close to the Downtown area and featuring a mix of residential and commercial communities, MBR City is one of the best places to invest in real estate in Dubai. Dubai Downtown – Home to Dubai’s most beautifully landscaped promenades, defining landmarks, and impressive walkways, Dubai Downtown promises a handsome return on your real estate investment. Jumeirah Village Circle – Whether you are looking for reasonably priced studios or ultra-modern apartments, JVC is a top choice, especially if you relish proximity to a range of outdoors and retail amenities. Palm Jumeirah – An upscale location and a slew of exciting projects makes Palm Jumeirah one of top places to invest in the city. For more information about Dubai real estate investment opportunities, do not hesitate to contact Ellington Properties, our property consultants will be glad to help.

Trust in Dubai makes it one of the most attractive cosmopolitan cities for real estate investment as well as living. And thanks to an increased demand, particularly from wealthy people, Dubai has finally overcome the property market crisis. For the first time in the last six years, the property prices in Dubai are increasing, with most experts believing that this trend is surely here to stay.   The opening of the international borders and the Expo 2020 have been a true gamechanger for the Dubai real estate market. As soon as this happened, wealthy investors showed a lot of interest in buying real estate in UAE — and within UAE, especially in Dubai — given its robust economy and successful handling of the COVID-19 pandemic. Consequently, there has been a noticeable uptick in sales of properties in Dubai. Some Key 2021 Dubai real estate market statistics In comparison with 2020, the total number of real estate transactions in 2021 increased by a whopping 65% in the emirate. Last year, more than 72,000 properties were sold. These were bought by more than 52,000 investors. More than 84,000 transactions were recorded in the real estate market in 2021 and the total value of these transactions was AED 300 billion. According to many real estate experts, the COVID-19 pandemic, contrary to all expectations, has impacted the UAE real estate market in the longer term, particularly that of Dubai, in a positive manner. With the government showing its efficiency in effectively overcoming the many effects of the pandemic, global buyers have been quick in reposing faith and investing money in the local real estate market. While other countries are in a real estate downturn since the COVID-19 outbreak, the demand for both residential and commercial properties in Dubai continues to grow. A noticeable trend that has been seen is that today investors are more interested than ever before in buying properties in those areas of Dubai that offer high standard of living with a wide array of modern amenities. So, which are the most popular areas in Dubai for real estate investors? MBR City, Downtown Dubai, Jumeirah Village Circle (JVC), and Dubai Marina are some of the most profitable areas for real estate investment in Dubai today. Each of these locations offers buyers high standard of living with many modern amenities. MBR City – Well-connected to the rest of Dubai, MBR City offers a mix of residential and commercial properties. Residential buyers have a wide range of properties to choose from, including luxurious apartments and mid-range townhouses. The famous Meydan One Mall is just a short distance away from here. Downtown Dubai – It is an ideal location for those looking for spacious apartments in the heart of the city. Downtown Dubai is not only a cultural and nightlife hotspot, but it also boasts several high-quality schools, making it a favorite among both singles and families. Dubai Marina – If what you are after is beautiful flats or high-rise apartments with breathtaking views, Dubai Marina may be perfect for you. To make living here more pleasurable, there are a host of retail and dining options nearby. Jumeirah Village Circle (JVC) – Situated alongside Al Khail Road, JVC has over 2,000 residential units, including villas, townhouses, apartments, and commercial buildings. Residents get to live in a peaceful yet vibrant community with all modern amenities, which is only a short distance away from many of Dubai’s top hotspots. What can we expect from Dubai real estate market in 2022? The forecast for this year is very encouraging. According to most experts, the real estate boom is likely to continue in 2022. What’s more, many experts are of the opinion that this year we can see some new records. Some of the main contributing factors to the real estate growth in 2022 are likely to be: Robust economy Favorable tax polices Low mortgage rates High interest shown by foreign investors, especially wealthy buyers A number of new residential areas in Dubai Even though real estate market turmoil is likely to continue in many countries, Dubai is one of the most sheltered communities for expatriates and wealthy individuals alike. And with the government constantly proposing a number of reforms to make it easier to get a residence permit, there’s every reason to hope that the uptrend will continue in 2022 and beyond.

Thinking of turning your Dubai property into a profitable rental unit? Now is a great time to act. Why? There are three reasons why you should not delay letting your Dubai property any longer: Research shows that post-pandemic, the economy is all set for a concrete recovery and prospects for Dubai’s residential property market in particular are very optimistic. In spite of the disruptions caused by the Covid pandemic, recovery and incentive programs initiated by the government, as well as by other stakeholders, have ensured the real estate sector remains resilient. More and more people are looking to rent out residential properties. Because of the pandemic and its fallout, people are now leaning toward greener and bigger spaces. This is quite understandable. Since work-from-home has become more of a norm instead of an exception, people are looking to move into well-designed and spacious residential units. Dubai still remains a renters’ and buyers’ market, and as an owner of residential property, this is something you can — and should — look to use to your advantage. By letting your property right now while the going is good, you can generate an impressive return on investment (ROI). Which brings us to the titled question: How can you turn your Dubai property into a substantially profitable asset? Keep in mind the following tips to help you achieve this objective: 1. Work with an experienced brokerFinding tenants on your own can be stressful and time-consuming. A much easier and more effective approach might be to rope in a broker to fill a rental vacancy. Some of the benefits of working with an experienced broker are: They will market the rental property for you. Reliable and experienced brokers have a vast network, which they can leverage to market your rental property and find you a suitable tenant sooner rather than later. They can schedule viewings with potential tenants. Your agent will interact with all prospective tenants and schedule appointments for viewing the rental property. Having this responsibility off your shoulders will allow you to free more time for other productive tasks. They may be able to run background checks. Many brokers have access to tenant screening services and as such may be able to run a background check on prospective tenants on your behalf. Beneficial as a broker can prove, it is important that you pick the right team. Make sure you select a business that has a valid RERA number. Also, ensure they are registered with the Dubai Land Department.   2. Prepare the documentsYour broker can also help you prepare your documents. If you are going solo, ensure you follow the applicable rules and laws when renting out your property. 3. Determine how much rent to chargeIt’s important you find out the amount of rent you should charge before kick-starting the rental process. The easiest approach is to first find out the current market value of your residential property. Consider finding a home appraiser, who can give you an accurate assessment of how much your house is worth, depending on local home sales prices, the condition of your property, and its location. Once you have this figure, calculating the amount of rent to charge is possible by applying the rental yield percentage applicable in your area. Another way to estimate your rent is to look at popular property portals and aggregators such as Bayut or Propertyfinder. Make sure you check out properties similar to yours and in the same area. 4. Offer add-ons and flexibilityA smart way to entice tenants is by offering add-ons and flexibility. For instance, you can offer prospective tenants flexible payment options. Similarly, offering a rent-and-utilities inclusive deal may make your property more attractive to prospective tenants. 5. Market the rental property wellIf you are going solo, it’s important that you market the property well. In addition to listing its basic specifications and features, ensure you aptly highlight its USP (unique selling proposition). For instance, is your property near a supermarket, a school, or a golf-course? Is it at walking distance from the metro? With more and more people looking to rent a property in Dubai, you are likely to fill your apartment or villa in no time at all if you follow these tips.