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For a person who is not familiar with the peculiarities of the real estate market in the UAE, it may be a discovery that purchasing an apartment in Dubai is easily achievable. The purchase of these apartments will often not even cost much more than a one-bedroom apartment in Moscow.
If you want to find out what kind of residential property you can purchase in Dubai, should you choose to sell a real estate unit in Russia, and what the features of the local real estate market are - we suggest you find it out from our material.
Content:
- Peculiarities of the real estate market in Dubai
- Pricing Factors
- Average real estate prices in Moscow and in Dubai
- What can you purchase in Dubai and at which price
Peculiarities of the real estate market in Dubai
Despite Dubai being famous as the richest and most popular city in the UAE with a tangible economic weight in the international arena, the cost of housing here is quite comparable to residential properties in the Russian capital. The real estate market in Dubai is very diverse, with both premium properties worth hundreds of millions of dollars and much more affordable options.
Like Moscow, Dubai has different neighbourhoods and residential communities. Some are family-oriented, and others are resorts with beach facilities. There are business communities, gated luxury communities and so on. Each of these areas is unique and offers amenities for comfortable living, recreation and leisure. As the orientation of the neighbourhood changes, so too do the real estate prices fluctuate.
Pricing Factors
Both in Russia and in the UAE, the property cost consists of similar criteria. These include:
- Proximity to the city centre; In Russia, this is one of the key factors in price formation. As for Dubai, the price is not dramatically affected. In Dubai each district is built as an independent area;
- Overall condition of the residential unit;
- Availability of well-developed infrastructure; Most developers in Dubai don’t just construct residential units, but also develop independent residential hubs - which contain everything necessary for comfortable living;
- View. If an apartment has a beautiful view, such as a seascape or a famous place of interest, this automatically increases the cost of the apartment;
- The property’s size;
- The development’s age; In Russia, this is often a key factor. The older the building, the lower the price. However, in Dubai, this is not always the case. Here, the cost of housing in famous developments built 10 years ago can be several times higher than housing in a new building.
Average real estate prices in Moscow and in Dubai
According to the latest data for October 2022, the average price of real estate in Moscow is $4,919 (301,835 ₽) per square metre.
Below is the data on average prices for apartments, depending on the number of rooms.
| Apartment type | Price per square metre | Average cost |
|---|---|---|
| 1-room | 5680 $ (348 528 ₽) | 176 440 $ (10 825 890 ₽) |
| 2-room | 5045 $ (309 588 ₽) | 255 945 $ (15 704 095 ₽) |
| 3-room | 4650 $ (285 357 ₽) | 312 581 $ (19 179 134 ₽) |
| 4-room | 4037 $ (247 730 ₽) | - |
| New | 5318 $ (326 321 ₽) | - |
| Used | 4909 $ (301 242 ₽) | - |
According to the Dubai Land Department (DLD), the average cost of an apartment in the centre of Dubai was AED 13,740 ($3,740) per square metre in October 2022. The average price for apartments outside the centre for the same period is AED 8711 ($2371) per square metre. At the same time, the cost of a one-bedroom apartment starts from AED 275,000 ($74,870).
What can you purchase in Dubai and at which price
Below $80,000
-
A studio in the AL JAWHARA residential community, situated in the Jumeirah Village Triangle.
We offer you a cosy 41-square-metre studio in a new residential development, where construction reached completion in 2020. The apartment is fully furnished and has a balcony. It is in a convenient location near the airport, shopping centres, schools and cafes.
Cost: AED 289,898 ($78,926).
-
A studio in the MEDITERRANEAN CLUSTER residential community, situated in the Discovery Gardens area.
A comfortable apartment in a new building in Dubai with an area of 46 square metres. It comes complete with built-in wardrobes, furniture in the kitchen, an equipped bathroom and a balcony. It offers views of the pool and the city skyline. The residential development features a fitness room, steam bath and spa.
Cost: AED 289,999 ($78,953).
-
Apartment in the DUBAI WORLD CENTRAL residential community, situated in the Dubai South area.
A stylish 37-square-metre studio overlooking a cosy residential community. The apartments are fully furnished and ready to move in. The residential community provides a fitness room, parking, a barbecue area and other amenities.
Cost: AED 290,000 ($78,954).
Below $150,000
-
One-bedroom apartment in Dubai Sports City.
A comfortable and fully furnished apartment of 75 square metres in one of the most popular areas of Dubai. The apartment has a balcony and central air conditioning. In the territory of the residential community, there is a parking lot, a children’s playground and a barbecue area.
Property price: AED 500,000 ($136,127).
-
One-bedroom apartment in the GOLF PROMENADE residential community, situated in DAMAC Hills (Akoya Oxygen).
Stylish 50-square-metre apartment in a new residential community which completed construction in 2018. The apartment has two bathrooms and is fully equipped with furniture and household appliances. The windows overlook the beautiful golf course. The key feature of the lot is the pre-installed Smart Home system, which allows you to control electronics and home appliances remotely.
Property price: AED 550,000 ($149,740).
The Emirates Estate website presents new residential development in Dubai offered by reputable developers and verified owners. If necessary, our experts will choose a property according to your budget and needs, as well as organise a quick and safe sale transaction.
