In the first half of 2022, the Dubai residential property index hit a 10-year high. If you want to get a complete idea about Dubai property price trends and the average prices of different locations then you must read this blog from top to bottom.
With the name “Dubai” only a few things that come into our mind are Burj Khalifa, illuminating high-rise towers, grand malls, eye-catching views of water bodies and every that directly connects with the luxury lifestyle. And all these are available for those looking for an escape & luxury at a very affordable price.
It is not an over statement to say that, this is the only place in the world, where you can expect premium luxury residential property at unrealistically reasonable prices. Anyone can enjoy a luxury lifestyle with their residential property in Dubai. Continuously rising property prices in Dubai, have turned out to be the best investment opportunity for individuals who are looking for safe investment avenues. Before investing anywhere in Dubai, it is very important to know about the property price in different locations. So here we have tried to give you an idea about Dubai Properties' price.
In 2021, Dubai real estate witnessed the highest ever transaction and the first half of 2022 was the best since 2010 as sales of luxury residential properties have reached new heights. If we talk about Dubai, the average house price in Dubai in the first half of 2022 has reached AED 19085 per square meter, which is 12% higher than in 2021.
Palm Jumeirah is like a brand in Dubai real estate and that’s why property here comes at a very premium price. If we talk about the price of Palm Jumeirah Villa then this first man-made island offers you a wide range to choose from, starting from AED 5 Million to AED 100 Million.
Here you can buy a luxurious beachfront villa or a villa with a private beach, this island has something for different tastes & budgets. As well as, an opportunity to share your neighbourhood with world-renowned celebrities.
Just like other locations, apartment prices in Dubai Marina completely depend on the type & amenities. For example:- Lowest price for 1 Bed Apartment ranges between AED 580, 000 to AED 2 Million. For 2 Bed Apartment price starts from AED 1.7 Million and goes up to AED 6 Million. Here you can buy Studio Apartment at AED 0.5 Million.
This man-made island offers a wide range of options for residential properties. If we talk about Dubai Palm Jumeirah villa price then you have many options. Here an apartment in an old low-rise residential complex will cost you around AED 1.1 Million and a penthouse will cost you AED 18 Million. If you are ready to spend AED 18 Million on new towers then you can easily get a luxurious 2 or 3 Bed Apartment.
Dubai real estate has left no stone unturned to entice luxury home buyers from different parts of the world. The floating villa is the best example and pure engineering marvel, as the upper level of this type of villa is seem floating on the water and the lowest level is submerged in the water with glass walls. You can buy a floating villa in Dubai at the price ranging from AED 10 Million to AED 16.5 Million.
In Dubai real estate you can invest in two types of studio apartments - luxury studios & affordable studios. The price of the studio completely depends on the location, size, views and amenities. If we talk about the price range of studio apartments in Dubai then you can expect to pay AED 0.5 Million to AED 3 Million. Most of the affordable studio apartments in Dubai are mundane in features & specifications but luxurious studios are fully-furnished, and spacious, with eye-catching views and 5-star services.
Dubai's real estate has seen many ups and downs just like the real estate of other cities or countries. So, let's start from the beginning with the boom in 2008 when oil prices were at their peak ($145 per barrel). At that time average price of villas in Dubai was AED 2.19 Million and AED 1.3 Million for apartments.
Then 2009 saw an uncertain drop in the oil price of $32 per barrel, many big banks all over the world closed down and trillions of dollars were lost worldwide in all sectors. At that time Dubai, real estate was also affected due to a lack of investment and the average property price in Dubai decreased in price by approx 8%. Apartment prices dropped down to AED 0.6 Million from AED 1.3 Million.
Again at the beginning of 2010 property market of Dubai started to show signs of recovery with a 63% recovery in apartments’ average price and 16% in villas’ average price. In the next 5 years, the Dubai property market remain stable with the launch of numerous off-plan development. Till the first half of 2015, the average price of the townhouses rose by 13% and apartments price got a 37% hike. So in 2015 average property price in Dubai surpassed the pre-crash level of 2008.
But again in 2016 apartments price in Dubai experienced a steady drop till the beginning of 2019. On the other hand, villa/townhouse prices dropped at the beginning of 2016 but start recovering in the last quarter of 2018.
Real estate investors & buyers can choose 2-bedroom to 6-bedroom villas in Dubai. An ordinary villa price in Indian rupees starts from Rs. 1.5 Crore. You can buy a floating villa in Dubai at Rs. 48 Crore. If you are looking for a villa in the best communities then you have to pay Rs. 9 Crore to Rs. 18 Crore.
Apartment rent in Dubai depends on the location and number of bedrooms. For example - 1 Bed Apartment in a normal neighbourhood will cost you approx AED 5K monthly. A 2-bed apartment will cost you approx AED 6.6K monthly. But if you are looking for a luxury 3 Bed apartment to rent in a premium neighbourhood then it will cost you around AED 20K.
Dubai real estate attracts home buyers & real estate investors from all over the world. Most property buyers prefer to choose Dubai houses for sale at the low rise in the best communities. This high ROI at a low price. There are many real estate developers & communities in Dubai where you can expect the best quality home for sale at a low price.
Dubai's real estate market is booming and there is no discount on property prices as buyers are ready to pay any amount for luxury homes from reputed real estate developers. But if you are still waiting for the property at a discounted price then you have to wait for the festive seasons or special events like New Year, National Day and Ramadan etc.
So, set a reminder on your phone & frequently check the developers’ website for a special price offer, DLF fee waiver and attractive payment plan etc.
It is not a surprise that Dubai real estate is considered one of the safest real estates investment in the world. There are many influencing factors behind the craze of Dubai Housing like transparent freehold policies, residency visas and zero property tax etc.
But still, property price is the biggest concern of real estate investors & home buyers. In this blog, we have tried our best to provide you complete idea about price trends in Dubai and current property prices in different locations & different property types. Now we can say that there is something for everyone in Dubai Properties at different prices & configurations.
