Best areas to buy property in Dubai in 2023

Dubai Marina

Dubai Marina is one of the most beautiful, prestigious, and developed areas in Dubai. This is also one of the most popular and attractive for investment districts in the city. Dubai Marina consists of 10 micro districts, including the most popular Jumeirah Beach Residence community.

Stunning views on the Marina, kilometers of promenades with numerous shops, restaurants, and cafes, the Dubai Marina Mall, developed infrastructure with metro and tram stations, nightlife, and a lot of activities for every taste…you will find it all in Dubai Marina.

Below are two projects that we find worth considering in this area.

Bluewaters 

Bluewaters Island is a new grandiose project developed by Meraas for EXPO-2020. The creators of this community managed to make it a stunning combination of tranquility, comfortable urban environment, and exclusivity.

The island has a great location near Dubai Marina and excellent transport accessibility. Some of its attractions are a stunning 300 meter long pedestrian bridge connecting the island with the coast of Jumeirah Beach Residence, a variety of restaurants and shops, and of course the Dubai Eye, the world’s largest observation wheel.

The world-class retail, hospitality, entertainment, and residential areas make this place one of the best communities to live in. Have a look at one of the projects located in this area.

JLT 

JLT is an area of green parks and lakes. It is built around 4 lakes, which formed the basis of its name. This is a great area to live in, as there are plenty of bike paths, parks, pedestrian areas, as well as shops and restaurants. 

JLT is a vibrant self-sufficient community which is located along Sheikh Zayed road and has 2 metro stations next to it.

Have a look at the projects below. They may become a valuable investment.

Hartland 

Hartland is located in the northeastern part of MBR City on a beautiful waterfront in the heart of Dubai, surrounded by parks and landscaped areas. Its great location near the Ras Al Khor nature reserve makes it ideal for walking and finding the right work and life balance. 

At the same time, the infrastructure is very well developed and can offer everything for a comfortable life, study and recreation. There are many shopping centers, business offices, fitness centers, retail outlets and dining places. 

Here are some of the most sought-after properties in that area:

MBR City

Mohammed Bin Rashid, known as MBR City, is one of the largest mixed-use developments in Dubai which dates back to 2012. Its concept is "city within a city" with world-class entertainment facilities.

MBR City is named after the Vice President and Prime Minister of the UAE and the current Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum.

The project envisages the connection to 2 international airports, the construction of  hospitals, schools, hotels, sports centers, and the world's largest swimming pool. The territory will be covered with parks and golf courses. 

We would like you to pay attention to the following two projects being developed in this area:

FAQ

Is it worth buying property in Dubai?

• Yes, buying property in Dubai opens many opportunities. 
• The city’s real estate market is controlled by large and reliable developers with a long-term reputation that is trustworthy. 
• Residential facilities are mostly rented out on a turnkey basis, which allows foreign investors to conclude a deal to buy a home and immediately move into it, or rent out a property without leaving their country of residence. 
• Eligibility to get a residence visa for 3 or 5 years with subsequent prolongation for as long as you own the property.
• High rental yields (Up to 6% ROI for villas and up to 7.5% for apartments).
• Zero tax burden on buying and renting.

All this, coupled with a high standard of living, makes Dubai a city where real estate investment will be one of the best long-term financial investments.

What is the best area to live in Dubai?

Dubai is very diverse, and everyone will find a place in the city to their liking. You can live in the very center of the city in a high-rise apartment building, in a villa on the picturesque coast, or settle in the remote areas surrounded by greenery.

Downtown Dubai

If you like to feel yourself in the center of events and live in the rhythm of a metropolis, then Downtown Dubai will satisfy your wildest desires and ambitions. Downtown Dubai can definitely be called not only the center of the city, but also the most luxurious and dynamic center of attraction in the entire Middle East. Here are the best brand stores from around the world. 

Moreover, the area is simply immersed in sights. The architecture of the district is designed in such a way that you can choose not only a luxurious penthouse in a high-rise skyscraper, but also apartments in the old city, where an oriental fairytale will surround you at every step. 

It will seem that you live outside the city, away from the hustle and bustle, but only five minutes on foot and you are back in the center of a dynamic metropolis.

Dubai Marina

The area is suitable for those who do not want to give up a dynamic life and at the same time prefer a beach holiday. The magnificent promenade is full of restaurants, cafes and entertainment for every taste. This is a favorite tourist place, so life is always in full swing here and it can be quite crowded. 

This area always has an increased demand for residential real estate, which makes it a very liquid and valuable asset for investors.

Is 2023 a good time to buy property in Dubai?

Dubai has been and remains at the top of the ranking of the safest and most economically stable cities in the world, which fuels the demand for residential real estate and has a significant impact on attracting investment in commercial real estate. 

Many market experts predict increased demand for real estate in 2023 as well. 2022 was a record year for the city in terms of the number of transactions and showed a steady recovery in demand in the real estate market since the covid-19 pandemic. 

The tourism associated with the World Cup has also had a positive impact on the short-term rental market, not only in the hotel sector, but also in the mid-to-high-end residential real estate sector. 

Absolutely transparent and affordable installment programs allow customers to purchase real estate with minimal investment.

Which area is best for expats in Dubai?

Depending on your preferences, family composition and the purpose of your stay in the city, you can conclude which area for living is best for you. 

Dubai Marina or Downtown Dubai are good for young couples and those who want to be in the very center of vibrant atmosphere, night life, and entertainment.

Families with children will be comfortable in Dubai Hills, Emirates Hills, Damac Hills, Jumeirah Village Circle (JVC), and Dubai Sports City. These districts offer a variety of apartments, townhouses, and villas and have all the necessary facilities and amenities for kids.

Business people may find it nice to live and work in Jumeirah Lake Towers, Business Bay, Dubai Internet City, and Dubai Media City as these districts provide a great work and life balance.

In each of these areas there are many expats and you will feel like you are in a vibrant multicultural environment and a full-fledged multinational community of people from all over the world.

How long can you stay in Dubai if you own a property?

You can stay in Dubai as long as you own real estate in the city. When you buy a property here, you become eligible for a 3, 5 or 10 year residence visa depending on the property price. This visa can be renewed for as long as you own your house, apartment, or any other real estate.

Is it better to rent or buy a house in Dubai?

It all depends on what goal you are pursuing, what you plan to do and how long you plan to stay in the city. 

If you want to spend your holidays there or come for a short winter from a colder climate, then it is better to rent a property. 

If you want to spend more than just a vacation in Dubai and plan to travel more often, then it is better to buy a property. 

And finally, if you want to get a stable rental income, you can buy a property and rent it out for a long time. 

Moreover, it is possible to offer a compromise option - to rent the property on a short-term basis, and in your free time spend your holidays or vacations there.