The cost of real estate in the area depends on many factors, including:
- Location in relation to the seafront and bustling business districts;
- Availability of amenities or hotel services on the premises of the residential complex;
- Year of construction;
- Total area of the property;
- Type of development and quality of interior and exterior finishes.
Let's look at the main trends in real estate sales in Deira. Today, there is a variety of housing options for sale, ranging from properties in the average price range to the most expensive. For example, a 2-bedroom apartment in the Emaar Towers complex in the Riggat Al Buteen area sells for AED 1.1 million ($299,500). 3-bedroom apartments in the elite Rixos Resort Island Residence complex on the Dubai Islands will cost the buyer AED 8.66 million ($2.36 million).
A 4-bedroom villa in the Abu Hail area costs AED 2.3 million ($626,000). A luxurious 6-bedroom villa in the same area sells for AED 12.5 million ($3.4 million).
The Dubai Islands have a wide range of off-plan projects in Dubai where you can buy elite properties on an installment plan directly from the developer at an attractive price. For example, a two-bedroom apartment in the under-construction Bay Residences complex with direct access to the beach is being sold for AED 4.25 million ($1.16 million).
When it comes to rental trends in Deira, there is a significant price range. You can rent a small studio apartment for AED 16,000 ($4,300) per year. Or you can rent an elite 5-bedroom residence in an amenity-rich complex. The annual rent for such a property is AED 250,000 ($68,000).