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Fantastic Investment Opportunities in Dubai
According to a recent report released by UAE real estate portal PropertyFinder, Jumeirah Village Triangle (JVT) is the Dubai community that offered the highest return for the third quarter of 2017 with an average rental yield of 9.2% per square foot. The next highest yields were seen in the communities of Discovery Gardens, International City and Sports City.
The prevailing trend seems to be that smaller and newer communities offer better options for investors than the bigger, more established areas. Downtown Dubai, for example, has some of the most prime properties in the city, but recorded rental yields of only 5.5%. Other key areas such as Palm Jumeirah and Dubai International Financial Centre (DIFC) also delivered yields that hovered around the 5% mark.
In a similar vein, apartments netted more significant yields than villas due to their smaller relative size. Studio apartments for sale in Dubai had some of the highest returns, but only in areas where sales prices are lower and considered more affordable.
“Following on from the old adage of ‘location, location, location’, we have to consider the idea of ‘pricing, pricing, pricing. The more desirable areas of Dubai also have the most expensive properties,” says Jason Hayes, CEO of LuxuryProperty.com.
“That’s not to suggest that properties that are further away from prime locations are any less desirable, however. At the expense of a 20-minute commute, one could conceivably buy a property at upward of 30% less than what one might find in the more well-known districts.”
This fact has not been lost on investors either, Hayes suggests. Yields in communities such as JVC, Dubailand and Dubai Silicon Oasis are higher by virtue of the fact that the initial purchase price is significantly lower than in Palm Jumeirah or Downtown.
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The prevailing trend seems to be that smaller and newer communities offer better options for investors than the bigger, more established areas. Downtown Dubai, for example, has some of the most prime properties in the city, but recorded rental yields of only 5.5%. Other key areas such as Palm Jumeirah and Dubai International Financial Centre (DIFC) also delivered yields that hovered around the 5% mark.
“Following on from the old adage of ‘location, location, location’, we have to consider the idea of ‘pricing, pricing, pricing. The more desirable areas of Dubai also have the most expensive properties,” says Jason Hayes, CEO of LuxuryProperty.com.
“That’s not to suggest that properties that are further away from prime locations are any less desirable, however. At the expense of a 20-minute commute, one could conceivably buy a property at upward of 30% less than what one might find in the more well-known districts.”
Read More...