Properties for sale in Old Town

Property for sale in Old Town

The property in Old Town for investment and living may seem out of date, as the residences in this vibrant area of Dubai are vintage. However, this is a common misconception, and the daily rhythm here is far from traditional. The district is located in the emirate’s busiest part, in the heart of Dubai, which is also called the "centre of the present." This is the city’s pedestrian area, which is a few minutes' walk from Al Bahar Market, Dubai Mall, Burj Khalifa Tower and Dubai Fountain. The community has access to Mohammed Bin Rashid Boulevard as well, which consists of numerous cafes, fine restaurants, hotels and other public places to experience the benefits of living in downtown Dubai.

The real estate in Old Town for expats is low-rise apartment buildings. If you are interested in villas in Dubai, there are no such mansions here. However, an overseas property in apartment buildings are as comfortable and luxurious as cottages in the UAE. In particular, some complexes have 3- and 4-bedroom penthouses with the best views of the famous Dubai skyline.

The average cost of a property in Old Town is AED 1.9 million ($518,000) per 1-bedroom flat. If you are interested in buying cosy apartments in Dubai for your family, you can find 2- to 4-bedroom residences in this area. The price of properties in Old Town, UAE, averages AED 3 million ($817,000) per 2-bedroom apartment and exceeds AED 4.5 million ($1.23 million) per more spacious housing option with sea views.

The housing stock of the community is not as large as in the city’s new locations. There are about 1,500 apartments in 35 buildings in 6 complexes. Yansoon has 9 buildings, Reehan has 8, and Zafran and Miska have clusters of 5 low-rise buildings each. In addition, there are 4 apartment buildings in the Zanzebeel and Kamoon blocks.

The real estate for sale in Old Town in Dubai includes 1-, 2- and 3-bedroom flats. These residences have bathrooms, a maid's room with a bathroom, a laundry room, a spacious living room and a dining area. Community members have direct access to special parking spaces.

There are also several 4-bedroom penthouses. This is an apartment of about 300 m² with premium rooms. The bedrooms are equipped with walk-in closets and bathrooms. The maid's room has its own bathroom and a separate entrance to the territory. Each penthouse has an equipped kitchen, a spacious living room and a dining area.

Lifestyle in Old Town

The neighbourhood is an extension of the vibrant Downtown Dubai community, but offers a quieter and calmer way of life. This is a mixed-use community with a variety of a residential property in Dubai, shopping spots and recreation venues. The location is as convenient as possible for access to other city’s parts.

The giant Dubai Mall with local and international shops is a local major entertainment complex. However, community members can go to Souk Al Bahar market with a more relaxed atmosphere. This place is home to numerous restaurants, shops and unique shops with authentic goods. Residents of local complexes can also visit urban shopping centres, such as Boxpark and Citywalk, located an 8–12 minute walk from the area. Both of them have boutiques and outdoor restaurants.

Parents of toddlers will discover here a rich choice of kindergartens. Babilou Downtown and Blossom Nursery Downtown are one of the sought-after options. Business Bay Community Kindergartens are also nearby.

There are many primary schools located near the district, and most of them offer the British curriculum up to 6th grade. GEMS Wellington Elementary School is a 13-minute drive away in Al Satwa. Horizons English School in Al Wasl is located at the same distance.

As the community is part of downtown Dubai, it takes a minimum of time to get to both university districts. It takes only 20 minutes to get to Knowledge Park or Dubai International Academic City (DIAC).

Overall, the neighbourhood is well-formed to stay as longer as possible and has everything you need, including recreation venues and shopping spots, social and entertainment infrastructure and a large selection of properties and off-plan projects.

Investment real estate in Old Town

The demand for investment-attractive properties for sale in Old Town is rather high, as in all locations in the heart of Dubai. Being a foreigner, you have the ability to buy a property in Old Town with equal rights to a UAE citizen allowing you to own and use your home as you wish.

The return on investment in the community is quite high and reaches 6–7%. The fastest ROI can be expected from renting out a 1-bedroom flat. As you can see, buying a property in Old Town for foreigners can bring a high yield.

Property prices in Old Town generally meet the requirements of the UAE to participate in the resident visa programmes. You can get a 2- or 5-year residence permit for yourself and your family members. To pick up the best investment real estate in Old Town to obtain a resident visa, please turn to our specialists.

Is it profitable to buy a property in Old Town?

Are you interested in investing in a property in Old Town? If you would like to know more about this or any other district, please let us know about that. Our team of experts will provide you with up-to-date information and comprehensive support when you decide to purchase a property in the UAE. We will help you find the perfect property for sale in Old Town to live in or receive passive income, and the process of concluding a deal will be easy for you. Just leave a request straight away, and we will get back to you.