Dubai is an exotic place with a lot of options to buy apartments or luxury villas for sale in Dubai. Though, the rate of each residential unit depends on the area where they are located as the prices of property in Dubai depends heavily on the area. Each year, the prices of property are going down drastically and due to the global pandemic, they are at an all-time low. It is better at this time to get your hands on the real estate as you may get such prices again or not. We have created a guide for you in which we have briefly discussed the most high-priced areas in Dubai and the average price of a residential unit there.
Palm Jumeirah is Dubai’s most luxurious apartment commercial area. The average purchase price of the residential units in this luxurious island is almost four million Dirhams, including penthouses, four, five and six-room flats. Let’s address the apartment you can purchase that has one and two-bedrooms. The average price is 1.5 million Dirhams for a single bedroom, while 2 million Dirhams are paid on average for a double bedroom apartment.
The 2-bedroom Jumeirah apartments are more costly than those of Palm Jumeirah’s 2-bedroom apartments. 1.3 to 2.2 million Dirham is the average price of an apartment in this luxurious project. The area is however getting a little cheaper, with rates for apartments dropping by 0.6 percent each year.
Dubai festival city:
The average apartment cost here is approximately 2.8 million Dirhams. You can enjoy the lavish cafes and the spectacular light show that are situated next to the Dubai Festival City mall, where this area is located. Two-bedroom apartments are offered at 2.2 million Dirhams while one-bedroom apartments are supposed to hit around 1.6 million Dirhams. The average retail environment is declining every year, decreasing apartment rates.
Burj Khalifa area and Downtown Dubai:
Everyone wants a place with a great view outside when they look from their window or balcony. If you want a place with a view, the Burj Khalifa area and Downtown Dubai area will suit you the best. Though, you have to spend some extra cash on this place if you are willing to get a residential unit here than in some other areas. A one-bedroom flat will be priced on an average of about 1.3 million Dirhams, while a two-bedroom flat costs about 2.1 million Dirhams. Usually, the asking price is a lot higher than the actual prices of the units so you can negotiate to get a good deal. You can choose one out for about 800,000 Dirhams if you’re only willing to get a studio apartment.
You have to pay nearly 2.4 million dirhams on average to get an apartment in JBR. The location of this project makes it an ideal avenue to get a residential unit as it provides you with a dazzling view of the astonishing waves hitting the coast. An apartment with one bedroom would cost you about Dirham 1.3 million, which is way below the average price on the market by 10 per cent. The cost difference between a one-room apartment and a two-room apartment is not really high as you can get an apartment with two-bedrooms in merely 1.6 million Dirhams on average.
Palm Jumeirah Villas:
This place is the most expensive place out of all if you are looking forward to buying a villa in Dubai. Though at this place, you are spoiled for choices as you can get a villa of your own choice. This is the most luxurious villa purchase neighbourhood. There are plenty of villas here, some even have a private stretch of beach. Although prices of property decreased 1.5 per cent in the past year, the average villa with four bedrooms is still more than 10 million dirhams on average, however, prices start at 6.5 million dirhams on average. If you want a five-bed villa, the estimated price begins at 9 million dirhams.
The following guide will help you out in choosing the areas to buy a residential unit while keeping your budget in mind. You can look for the City Walk apartments for sale in Dubai if you are looking for a residential place with all the basic amenities and facilities nearby your place of living.