The Dubai property market may not be for the faint-hearted right now, but a careful look at the listings shows that there are still some bargains on offer. Arabian Business has revealed what is available in the various districts of Dubai, from high-end luxury to International City.
From the sales perspective, high-end units appear to have held their value extraordinarily well. If you’re looking to buy a villa on the Palm Jumeirah, you are still looking at paying more than Dhs7.3m. In addition, villas in Jumeirah have seen prices increase steadily in recent months. The fact that there is virtually no supply due to come online at all in one of Dubai’s most sedate neighbourhoods means that demand has been well retained.
Villa prices elsewhere are starting to look like potential investment territory. A two-bed in Arabian Ranches can be bought for under Dhs1.5m, and even cheaper units are on offer in the Springs and Meadows. For owners, it’s been especially bad news in places like Deira and International City. In the latter, studios are now on offer to buy for as little as Dhs140,000 – there are new basic version hatchbacks on sale for more than that.
Cheapest villa on the Palm Jumeirah Dhs7.3m
Only on the Palm Jumeirah would an outlay of Dhs7.3m result in neighbours staring sniffily over the fence at your poverty. For this otherwise princely sum, you can get an “upgraded Garden Home Villa”, complete with five bedrooms, a private swimming pool and your own beach. The total footprint of the plot is 5,000 square feet.
Agent: Prestige Real Estate
(All images for illustrative purposes only)
Cheapest apartment on the Palm Jumeirah Dhs1m
They haven’t quite dropped below the million-dirham mark yet, although canny buyers will undoubtedly be able to get an apartment for that kind of price. Sitting on the Palm Shoreline, this one-bedroom flat has a spacious balcony with park views, a large ensuite master bedroom, and the Shoreline beach and swimming pool are just a short stroll away. The unit’s total size comes to 1,184 square feet.
Cheapest villa in Jumeirah Dhs6m
If you thought that life had moved on from the older district of Jumeirah, think again. There aren’t that many vacancies around, and virtually no villas being built, so prices here are actually going up. With that in mind, you will need to hand over Dhs6m to settle in one of Dubai’s most well-to-do neighbourhoods. That will get you four bedrooms, a private swimming pool and envious looks from visitors – all within an 8,500 square foot plot.
Agent: Stars Dome Realty
Cheapest one-bedroom in Dubai Marina Dhs719,000
With a partial marina view, this one-bedroom is the best property on offer, with small change from Dhs720,000. Included in that sum is two bathrooms, a spacious balcony and access to Marina Walk. The flat is just over a thousand square feet in size.
Agent: Orient Desert Real Estate
Cheapest two-bedroom apartment in Downtown Dubai Dhs790,000
The price looks good, but space is a little tight – this apartment’s footprint comes in at 755 square feet. However, the location makes up for it; it’s situated at 8 Boulevard Walk on Emaar Boulevard. Included in the price is a balcony, while both bedrooms are ensuite.
Agent: Navi Realty
Cheapest villa in Emirates Hills Dhs4m
Just Dhs4m is enough to ensure that you and yours can rub shoulders with Dubai’s filthy rich. This three bedroom villa in the Montgomerie Maisonettes is located next to the Montgomerie Golf Course. It has three floors, including a rooftop area where you have a 360 degree view of the development. The villa’s footprint is 3,000 square feet.
Agent: The Property Store
Cheapest villa in Arabian Ranches Dhs1.4m
If you’re prepared to move a little out of town, this two-bedroom villa can be picked up in Arabian Ranches for a fraction of the cost of a similar-sized unit closer to Sheikh Zayed Road. With a footprint of 1,400 square feet, the villa features a “pitched colourful roof” as well as “Spanish-style decorative elements and fireplaces with chimneys” - for those cold winter months, naturally.
Agent: Al Raea Real Estate
Cheapest villa in Springs/Meadows Dhs1m
The cheapest villa in the Springs/Meadows area is this two-bedroom number, which comes with a private garden. The villa is located within walking distance to Spinneys and a public pool. It also has a study, lounge, kitchen and laundry room on the ground floor.
Cheapest two-bedroom in Deira Dhs180,000
At 1,324 square feet, this two-bed isn’t huge, but it does have a partial Creek view from the fifth floor. Buyers also have access to a shared gym, a shared pool and a balcony. The block is located near the Clock Roundabout, in the heart of Dubai’s old commercial centre. (*only thought to be available to UAE nationals).
Cheapest studio in International City Dhs140,000
In a sign of how much things have changed in the Nakheel development, studios in International City are now worth as little as 20 months worth of 2008 rent. Dhs140,000 will get you a studio in the China cluster, with a 480 square foot size. It will not, however, get you the basic version of the latest Golf R hatchback, which is Dhs20,000 more expensive.
Pitch your ideas now to win up to Dhs25,000 investment
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Prince Sep 01, 2011 10:20 am
I am a reuglar visitor to Dubai and I shall be in Dubai next week.I am interested in buying a one bedroom studio in international city.
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fatima nasreen Aug 08, 2011 08:01 am
I am intrested In buying this property what are the formalaties i want to know that,