Top 3 Locations to Buy a House in Dubai You Need to Check Out!

buying agent real estate

Buying a house in Dubai may be one of the best investment decisions of your life. People from all around the world move here, which is why 85% of Dubai’s population is made up of foreigners and expats. Also, thanks to the city’s booming real estate market,  property prices are low, while rent remains high. That means if you are planning to live here, buying a house makes more sense than renting. On the other hand, you can also buy a house through one of the Dubai top real estate companies and use it to generate rental income.

No matter what your goals are, if you are planning to buy a house, make sure to contact a reliable agency real estate Dubai to find a property in one of the nice neighborhoods. If you are making a list of the ideal locations, here are a few top choices that you should consider:

Downtown Dubai

If you find yourself standing in front of Burj Khalifa, the tallest tower in the world, know that you have arrived at Downtown Dubai. As the Dubai top real estate companies would tell you, Downtown is one of the most sought after locations to buy a property in the city. You will find the best and most lavish properties here. Famous for its upscale communities and high-rise buildings, Downtown also possesses various other well-known attractions such as the world’s largest shopping mall and the world’s tallest performing fountain. Since it is situated right next to the Sheikh Zayed Road, Downtown is considered as the center of the city.

Types of properties you will find here and their prices

Ask any agency real estate Dubai, and they will tell you that Downtown is all about high-end and luxurious apartment towers. There is always some exciting new developments taking place here, and there is no dearth of residential apartments in the area. If having a scenic view is important to you, make sure there are no future developments planned around your property to block your view. Property prices tend to be high in Downtown Dubai, and they might even be the highest in the entire city. A one-bedroom apartment here might cost around AED 1,100,000 or USD 381,139.

Popular projects in Downtown Dubai

According to the Dubai top real estate companies, the most popular projects in this area are:

  • Burj Khalifa
  • Burj Vista
  • The Lofts
  • Act One
  • Downtown Views
  • The Residences

Jumeirah Village Circle

If you have always wanted to live in a modern village setting, most agency real estate Dubai will recommend Jumeirah Village Circle. Situated far away from the hustle and bustle of the city, this will be the ideal location for you if all you want is a peaceful life. Jumeirah Village Circle is famous for its lavish townhouses and villas. There are around 3,100, townhouses and 2,800 spacious villas here with tons of green spaces separating each block. You will also find all the necessary amenities here such as community centers, sports fields, schools, and parks. Being only 25 minutes away from the Dubai International Airport, Jumeirah Village Circle is also a convenient location.

Types of properties you will find here and their prices

At Jumeirah Village Circle, you won’t find many high-rise towers or buildings. Dubai top real estate companies might show you apartment projects such as Belgravia Heights and Belgravia III, which are no more than 4 to 5 floors high. However, some high rise building projects are currently taking place in the area if you are interested in them. You can also find four-bedroom villas that have three terraces and a spacious garage that can fit two cars. Such a villa might cost you AED 2 million or around USD 600,000.

Popular projects in Jumeirah Village Circle

Some exciting real estate projects in the area include:

Jumeirah Lake Towers

As any agency real estate Dubai will tell you, this location has the largest concentration of high-rise towers in the city. Situated right across the Sheikh Zayed Road, Jumeirah Lake Towers is also close to Dubai Marina. There are around 80 mixed-use towers and apartments in the area, and you will also find several hotels. It is a densely populated residential area, which is why you will find plenty of entertainment options and necessary amenities such as hospitals, schools, supermarkets, shopping malls, and restaurants. Ideal for families, Jumeirah Lake Towers attracts a high number of expats. The expat population of Dubai prefers this location because it is so close to the neighboring commercial areas.

Access to transportation is also great here. You will get Dubai metro and roads that connect to Abu Dhabi. On the other hand, if view is important to you and you have always wanted to live near water, you would not need to get a beachfront property. Jumeirah Lake Towers has four artificial lakes surrounding it. The lakes are strategically placed between the residential projects. Also, thanks to the green spaces and big parks, the area looks and feels much less congested and crowded than other parts of the city.

Types of properties you will find here and their prices

This location is known for luxury apartment projects. However, you can also find several different types of apartments such as hotel apartments, serviced apartments, and penthouses. You will also find some exciting off-plan projects here. If you are wondering about the cost, you should know that a one-bedroom apartment might have a price tag of 0.5-1 million AED and penthouses might cost 4-6 million AED.

Popular projects in Jumeirah Lake Towers

Some of the most popular projects in this area include:

  • IGO 101 Tower
  • Banyan Tree Residences
  • Seven City
  • MAG 214
  • Dubai Arch
  • Bonnington Tower

If you want one of the Dubai top real estate companies to help you out in your search for the perfect house, make sure you get in touch with RiseUp. Being one of the leading real estate companies in Dubai, RiseUp can offer you the guidance you need!

FAILURE RATES AMONG DUBAI’S ESTATE AGENTS ARE WAY TOO HIGH

What does it take to be a successful agent or agency in the Dubai real estate market?

As of 2016, there were 5,933 active agents in Dubai market with a total of 2,285 registered offices as per a Dubai Land Department report from that time. Currently, there are 2,672 active agents and 969 companies in the market, based on September data from a private real estate portal.

That doesn’t mean all the agents or companies in the market are on that portal; so let’s consider another 20 percent agents and companies are operating.

Aakarshan Kathuria
Aakarshan Kathuria – Managing Director (RiseUp Holding)

As per our best guesstimates, there would be about 3,200 active agents and about 1,160 active companies. That means for every 2.75 agents, there is one real estate company. Odd metrics, right?

Well, one of the reasons for this is that anyone and everyone who thinks real estate is an easy business feels obliged to open their own company. The majority do end up failing.

I would go as far as saying that perhaps from this list of active agents or companies, only about 25 percent are aware about the regulations in the real estate industry and performing to their true potential. Let’s not talk about the 75 percentile, let’s talk about the 25 per cent who turn out to be successful.

WEAK ON BASICS

The job of a real estate agent in Dubai or globally is not easy, period. I’m not saying any other job is a walk in the park, but for an agent, like any other sales role, it’s all about the income they are able to generate that dictates their take-home.

WHAT DOES IT TAKE TO TASTE SUCCESS?

The barrier to entry for this role is low, which results in many aspiring individuals having a misplaced perception of this role as a money-generating machine that requires limited input and knowledge. A majority don’t have a basic knowledge about contracts or legalities.

While the most important aspect of this field is to understand how to deal with clients, which one can only learn on the job or through training, clients appreciate agents who have their basics in place:

● Understand the basic calculations of investment, rental yield, service charges, mortgage payments, gross and net income; so you can guide your clients better.

● Understand how to draft and review contracts that your clients are signing as a lot of bad investments can be credited to weak contracts.

● Understand the legality of transactions, how to best protect your client interests, and what fail-safe procedures to implement in case something goes wrong.

These are some of the basic principles that are so vital, but easily ignored by that 75 percentile of agents.

Source: Gulf News – Written By Aakarshan Kathuria

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