The United Arab Emirates tops of the list of countries where Russians are buying houses. Let us figure out the best place to buy real estate in the UAE. Several regions are traditionally in demand. Citizens of the Russian Federation mostly choose real estate in Dubai and Abu Dhabi. These two major cities are renowned for their infrastructure and opportunities.
- Real estate market in the UAE and its prospects
- Where is the best place to buy an apartment in the Emirates?
- Which city in the UAE is it better to buy an apartment in?
- Where is the best place for a Russian to live in the UAE?
- Where is it better to buy an apartment for a pensioner in the UAE?
- Where to buy an apartment in the UAE by the sea
- Buying an apartment in the UAE: nuances
- Assistance with selection and purchase of Arab real estate
Due to the pandemic situation in 2020, there was an imbalance between supply and demand. Investors were reluctant to invest in housing because of the uncertainty about the future. But already in the last quarter of the year, the situation has changed. Prices started to go up. In 2021, the trend continued, and the first half of the year clearly illustrated that Arab real estate is still in demand. Moreover, the demand for villas, cottages, and other types of buildings that have a closed territory which allow for minimal contact with strangers, has sharply increased.
Analysts believe that there is no need to expect price reductions in the future. Most likely, in 2022, the cost of apartments will grow by at least 1.5%. The rent of residential premises is also gradually increasing. Dubai is the market leader.
Consider the proposals on the example of the two largest cities in the region, Abu Dhabi, and Dubai. In terms of infrastructure development, both regions are at their best, but vigorous competition is going on between them to attract tourists and investors. Abu Dhabi is positioned as a cultural center, while in Dubai the emphasis is on science development and entertainment. Both cities are good in their own way, they have both supporters and opponents, as preferences are individual.
Choosing between Abu Dhabi and Dubai: let us look at the most popular communities.
The following areas are popular:
- Al Ghadeer. This project is located almost on the border with Dubai. Here is the highest ROI for rental houses, it reaches 8%.
- Al Reef is in second place. ROI - equal to almost 7.5%.
- Al Reem Island is in third place. ROI is 6.8%.
If we talk about moving to a permanent residence, then the following districts have the highest ratings:
- Downtown is the central part of the capital that has luxury properties. Everything you need is in walking distance: shopping centers, entertainment events and social institutions.
- Madinat Zayed is a community that is closer to the city center than to the suburbs. The buildings are not as modern, but they are still better than the usual Russian houses.
- Al Raha is a paradise for beach lovers. Water is very accessible. A bonus is that the airport is only 10 minutes away.
- Khalifa City A and B. The distance from the center allows you to have a calm pace of life. Villas are the most in demand in the region, while apartments in residential complexes are also available.
- Mohammed Bin Zayed City is the perfect place to do business. It is within a half hour drive from the center. There are several kindergartens and schools available, so the community is often chosen by parents with children.
The highest return on investment of 8% per annum is in the Discovery Gardens complex and the International City community. About 6% per annum can be obtained from the rental of apartments in the Dubai Marina. For a major investment, it is worth looking at the Damac Hills community of villas and townhouses. ROI reaches 6% per annum.
Communities actively in demand for permanent residence:
- Jumeirah Beach Residence (JBR). It provides year-round access to the Persian Gulf. Since the area is in demand amongst tourists, the pace of life is quite active. Shopping centers, restaurants and entertainment complexes are close by.
- Dubai Marina also has access to beaches. The community is dominated by luxury housing, as the district was originally built with an artificial island in mind. The only drawback is the substantial cost of housing.
- Emirates Hills is ideal for families with children. The community has a developed social infrastructure, and the amount of greenery refutes stereotypes about the Arabian desert.
- Green Community is another green oasis dominated by villas and townhouses, ideal for a relaxed family life.
- Umm Suqeim offers access to the coastline at a wide range of prices. Here you can find both luxury villas and budget apartments.
In addition to the two major cities indicated above, expats also often choose:
- Sharjah. The city ranks third in terms of population, borders Dubai and has its own free economic zones which opens opportunities for successful businesses. The region follows conservative Muslim rules, which imposes certain restrictions on residents with dress code and demeanor.
- Al Ain. The city is located 150 km from the capital, it is quite densely populated and popular with tourists. Unique climatic conditions (own mineral spring), many attractions and the presence of a university are among its advantages. There is only one drawback: for those who are interested in buying property by the sea, this option is not suitable. The region has no access to the coast.
- Fujairah. It is a compact and rapidly developing town. It is suitable for those who appreciate silence and are tired of the active rhythm of life. Due to the limited territory, it may be difficult to find a job, but it is a free economic zone for doing business. The Ottoman Gulf provides access to water, and an airport is in the immediate vicinity.
- Ajman. Has its own port and access to the Persian Gulf. Housing here is relatively more affordable compared with other parts of the country, there are exemptions in part of the Prohibition Law in force in large cities of the UAE. The city has developed infrastructure, it is possible to register your own company for doing business.
There are many options. In Abu Dhabi these are:
- Hidd Al Saadiyat, a village on the coast of the Persian Gulf. The villas are located just 300 meters from the water, a magnificent view opens directly from the windows. The villas have swimming pools. There are supermarkets, cafes, and shopping centers nearby.
- Al Reem Island, an island of cottage communities. Housing in the region is presented in various price categories, from budget to luxury. It has everything you need for life, from medical institutions to schools or universities for grandchildren.
In Dubai, the following areas are considered comfortable:
- Emirates Hills considered one of the most expensive, but at the same time respectable. This is the place for golf fans, as well as for those who prefer a full range of amenities: large green areas, barbecue areas and swimming pools.
- The Springs, a unique place that unites almost 5000 villas in its territory. The zone is rich with green plants, and it is in demand not only among pensioners, but also among families with children. The developer provides for swimming pools, picnic areas, playgrounds and walking paths.
These are just a few of the options to consider when purchasing. It is much more effective to maintain close contact with a real estate agent, who can find interesting offers in other areas focusing on the client's preferences.
Access to the coast remains one of the most attractive investment opportunities. Houses with access to the sea is cost-effective and in demand. There are at least two options to consider: Palm Jumeirah alluvial islands in Dubai and Al Marjan Island in Ras Al Khaimah. The latter area is unique, as another community cannot boast nearly 70 kilometers of white beaches. At the same time, there are no industrial ports in the region, thus, the water and coast retain their purity.
The beachfront area of Dubai Marina is in demand in Dubai as well. There is an additional bonus here besides access to the coast, the proximity to the city center.
Housing in the Emirates is purchased not only for permanent residence or seasonal vacations, but also to save money and earn money through rent. Therefore, the answer to the question of whether it’s worth buying real estate in the UAE is directly related to what the owners’ goals for the future are. If you plan to move to a permanent residence, you need to choose an apartment in the area that will better meet your current needs. For families with children, proximity to school can be an important aspect. Retirees may consider access to health care. In terms of retail chains, there are no difficulties with the purchase of food and essential goods in any large city of the state. For investments, it is more expedient to purchase an apartment in the region where there is an increased demand for housing. This should be considered when figuring out where it is better to buy a rental apartment in the UAE.
Each country has its own legislation peculiarities. Therefore, to avoid possible risks, it is recommended to use the assistance of qualified lawyers at the stage of transaction registration. A professional real estate agency is ready to advise on any issues related to overseas property. A wide range of offers is presented in the catalog. Do not wait for a new round of price growth to occur, decide now!