TOP 4 factors affecting the cost of an apartment in Dubai
Buying an apartment is a serious decision that requires careful analysis and study of many parameters. Especially when it comes to buying real estate in Dubai − one of the most attractive megacities in the world for living and investment. In this article, we will look at 4 key factors that affect the cost of apartments in Dubai.
Location of the property
Location is one of the main factors determining the price of real estate. Apartments in the central areas of Dubai have a higher cost.
If we talk about the location of the object, it is worth considering not only the distance from the center or the sea. The following factors are also important:
- transport accessibility;
- prestige of the district;
- availability of park areas;
- proximity to shopping malls, schools, kindergartens.
In developed areas of Dubai that have their own infrastructure: kindergartens, schools, spacious park areas, sports grounds, apartments are more expensive. Proximity to shopping centers and medical facilities can also increase the cost of housing. At the same time, the presence of a developed infrastructure within walking distance from the house is very important for families with children, pensioners and all those who do not like to spend a lot of time on the road.
It is also worth mentioning about the apartments with a good view. The sea panorama is a very nice bonus, for which, of course, you will have to pay extra when buying a home. Such properties are more expensive than apartments with a standard view from the window. In addition, “sunny” apartments with windows facing east, southeast or south are also very popular, and therefore their prices may be higher.
Developers tend to sell real estate at all stages of the construction of the building. It can be very profitable for a buyer to purchase an apartment in a new building under construction. The price rises together with the house, and at the time of delivery of the object, the apartment will cost much more. There is no need to be afraid of long-term construction in Dubai: the timing and quality of the work performed are strictly controlled by government agencies.
New apartments with luxurious finishing are more expensive than similar housing on the secondary market. If the apartment has air conditioners, household appliances, Smart Home system and other solutions implemented for the comfort of future residents, then the value of such an object increases. Apartments with premium finishings, high-end materials and modern technologies are more expensive. However, in the long term, such investments are fully justified.
In Dubai, you will also find apartments with minimal or rough finishings. They are cheaper. At the same time, buying such a property for many people is a great opportunity to do everything from scratch and implement their own design project.
Potential for rental income
If you are planning to purchase an apartment for investment or rental, then the rental income potential will be one of the main factors that should be taken into account when choosing a property. Popular areas (tourist and located near the business centers of the emirate), as well as facilities with developed infrastructure usually have a higher rental income potential.
When choosing a property, it is also necessary to take into account all legal aspects: taxes, commissions, rules for buying real estate (for example, various installment programs), which may affect its value.
ARAVANA Multifamily Office experts will be happy to help you choose the right property, taking into account individual preferences, budget and other parameters. Leave a request in the form below and we will contact you as soon as possible.