Studio Hunting in Dubai
Dubai, a constantly evolving city, has reached a yearly population of 2.2 million and the interest in living and working in it is remarkably on the rise. Having mentioned that, it is good to shed the light on the necessity of housing here. Finding a place to call home, a place that is budget friendly and convenient is definitely an adventure, a challenging one to be more accurate.
Having mentioned that, it is good to shed the light on the necessity of housing here. Finding a place to call home, a place that is budget friendly and convenient is definitely an adventure, a challenging one to be more accurate.
A studio is an all time favorite and the most preferable for people moving newly to Dubai, be it bachelors or men or women that have left their families back in their home country and came on a quest to improve their families’ quality of living. It is an option for the youth that were born and raised up here and taking the next step of starting a career and moving to their own place, in a totally different Emirate in so many cases.
Looking for a studio in Dubai would require attentiveness to various aspects, take location and budget for instance.
Many people have expressed how difficult it is to look for a place when they don’t know the locations and thus justproperty.com offers a great map-based tool on the website.
Below we will highlight the top areas whether one is interested in renting or buying a studio in Dubai.
Top Searched Areas for Studios for Rent
IMPZ average rent price is 45 k. AED
Dubai Marina Diamond avg. rent price is 65k. AED
It is a very popular searched place especially for those that prefer the public transportation as there is the Damac metro station and the tram has a drop off there as well. So double the benefit!
International City average rent price is 38k.AED
Jumeirah Village Circle (JVC) average price is 55k.AED
Did you know that part of enhancing the community experience Nakheel has 28 parks with entertainment / family facilities promised for JVC? So part of the value for money you will be paying guarantees you the greenery and the good space to walk around and relax on days with fair weather.
Dubai Investment Park avg. price is 48k.AED
Did you know that the Address Downtown has one of the most high-end studios in Dubai with an average of 150k (520 square feet) Whereas the most affordable studio is in International City with an average price of 36k (a little bit less than 500 square feet in space)
This makes The Address downtown 3 times more expensive than International City!
What about BUYING a Studio in Dubai
Buying a studio, especially in Dubai, is highly recommended for valid reasons. It is both a good long and short-term investment. When you buy a studio in such a rapidly developing city, there is no chances of regret especially that the growth rate is in constant rise and hit 5.11% for 2014 as the latest statistics indicate.
Buying a studio and putting it up for rent will help pay your mortgage and have that extra cash on the side if you are a good saver. Buying a studio in Dubai and keeping it to sell when the demand is on the rise in a certain area is a remarkable ROI as well. It is a good time to buy as prices are going down and the yield is high.
Top areas with the most affordable studios (average prices)
The following are the areas that have the most affordable studios for sale in Dubai:
IMPZ AED 450,000
Silicon Oasis AED 450,000
International City AED 370,000
Dubai-land AED 450,000
Discovery Gardens AED 500,000
Those areas with the most affordable living are the ones offering the highest yield percentages.
It is always good to keep in mind that investing in an area inside the city rather a safer option. Take JLT for instance; as it is close to the city and overlooks Dubai Marina, it will always be on high demand.
Whereas inland projects that are a bit isolated from the city are always project to an increase and decrease in demand herewith a change in price; especially that such areas tend to witness new projects emerging around them more often.
Back to the yield percentage, the following areas are the ones offering the relatively high percentages, which makes it a great choice investing in them:
Sports City: 9.3%
JLT : 9.0%
Dubai Marina: 7.5%
Downtown : 6.5%
Looking to Buy a High-End Studio?
Top areas with high-end studios and their average price:
Downtown Burj Dubai AED 1.2 million
JBR AED1.3 million
Palm Jumeirah AED1.4 million
Dubai Marina AED1.2 million
Jumeirah Lake Towers AED700,000
Finally we encourage you to keep the search going on to stay on top of the real estate market, be it a search to rent, buy, or help a friend in finding their next home.