Top 5 favourite neighbourhoods for property investors in Dubai
In recent years, Dubai has become one of the most popular and profitable destinations for property investment.
However, when you decide to invest in property in Dubai, it can be difficult to know which neighbourhood to choose. So let’s take a look at the neighbourhoods most favoured by property investors in Dubai.
Jumeirah Village Circle
The JVC (Jumeirah Village Circle) neighbourhood is undoubtedly the most sought-after among property investors.
In fact, it is the neighbourhood with the highest number of sales in Dubai, with 3,300 sales recorded during the first three months of 2023. It boasts beautiful flats and stunning townhouses that are the stuff of dreams.
This is, in fact, one of the reasons why this neighbourhood is highly sought after by European investors, particularly those from France.
Located right in the city centre, the JVC district is close to Dubai’s shopping centres, main attractions and transport links. It is also ideal for both long-term and short-term rentals (such as Airbnb).
In fact, you’ll only need to budget between €3,000 and €4,000 per square metre. What’s more, Jumeirah Village Circle offers the best prices for the’buying a property in Dubai. This is an excellent option if you are considering buying a property in Dubai.
Business Bay
Business Bay is the second most sought-after neighbourhood among property investors in Dubai. It ranks just behind Jumeirah Village Circle as the neighbourhood with the second-highest number of sales in the first quarter of 2023.
Indeed, Business Bay is home to numerous impressive projects, such as Canal Heights and Peninsula Jumeirah Living, which are attracting investors. Furthermore, one of the best construction projects is Marasi Business Bay. This is a mixed-use development that will be built along a 12 km stretch of Business Bay on Sheikh Zayed Road.
The Business Bay district is situated close to Downtown Dubai and is just 5 minutes from the Dubai Mall. It offers convenient access to the city’s main roads and is just a few minutes’ drive from Dubai International Airport. Business Bay is also close to numerous shopping centres and restaurants.
However, prices for new-build properties are high compared with Jumeirah Village Circle. Prices range from €5,000 to €10,000 per square metre. This does not, however, deter property investors from taking an interest in this neighbourhood. Whether for short-term or long-term rentals, demand is varied and very high.
Damac Lagoons
If you’re a fan of villas, this neighbourhood will impress you. Indeed, Damac Lagoons has plenty of villas.
This is, in fact, what earned it the title of the first neighbourhood in Dubai to have sold the most villas, with over 1,350 transactions completed. Furthermore, this neighbourhood offers greater security and boasts superb, attractive spaces that are a dream come true for investors.
Developed by Damac, the Damac Lagoons neighbourhood boasts extensive green spaces and stunning artificial lagoons. It also features numerous sports facilities, shopping centres and a good number of restaurants.
As far as infrastructure is concerned, there are a wide range of international schools. Furthermore, Damac Lagoons offers very attractive property prices.
Furthermore, it is situated on one of Dubai’s main roads, making it easily accessible to investors and travellers.
Dubai Creek Harbour
Developed by the property developer Emaar, Dubai Creek Harbour is a residential district with a primarily tourist-oriented focus. Situated on the seafront, it enjoys a prime location and is home to numerous large-scale construction projects.
In fact, Emaar’s aim was to create a community modelled on Downtown, but overlooking the sea. It is currently planning to build several luxury hotels, some of which – such as Vida and Adress – have already been completed, whilst others are still under construction.
What’s more, Dubai Creek Harbour is just 10 minutes from Downtown and Dubai Airport. It also boasts a wide range of restaurants and shopping centres nearby, not to mention the superb marina. As for property, prices per square metre are very attractive.
You should expect to pay around €5,000 per square metre. However, this price could rise by 2026 due to major projects in the pipeline, such as the large shopping centre due to open in 2026.
Dubai Marina
Dubai Marina is one of the most popular areas with tourists and holidaymakers. It is situated by the sea, centred around a magnificent marina, and offers beautiful views of the Persian Gulf.
As such, Dubai Marina is highly sought after by property investors. This is evident from the number of transactions completed in the first quarter of 2023, totalling around 2,800 sales. These transactions were mainly recorded on the secondary market.
Furthermore, this neighbourhood is highly sought-after for short-term rental investments. However, the flats are not always attractive, as there are few new-build projects currently under way.
If you’d like to invest in property in Dubai, please contact our estate agency, a DRN expert will guide you through your property project.
