Studio apartments offer comfy living in the heart of Dubai for a very reasonable price, which is why they are one of the most sought-after type of apartments in the UAE. So, if you’re planning on investing in one, great choice! Here are some of the best areas for you to buy a studio apartment in Dubai.
Home to world-class attractions such as the world’s tallest tower, Burj Khalifa, and one of the largest malls, Dubai Mall, Downtown Dubai is the Dubai dream given physical form. For obvious reasons, properties here are highly sought after and already, on the face of it, quite expensive. On average you would need about AED 1 million to buy a studio apartment, although there are still options as low as AED 600,000, depending on the developer. Speaking of which, Emaar is probably the most popular developer for several reasons; it builds good quality units, has the financial backing to withstand recessions and other economic downturns, and it delivers on its projects – on time. Buying in Downtown would ensure that your rental income is good.
Wrongly regarded as the poor man’s Downtown, Business Bay has much to offer potential investors, such as good capital appreciation (as it starts from a lower base).
Dubai Properties is the main developer in the area, but there are many other private developers too. Prices for studios range from AED 600,000 to around AED 800,000. The area is being groomed as a fashion centre, with many designers seeking to set up shop there. Between its access to a metro station and being located right on Sheikh Zayed Road, Business Bay will remain popular, especially with young professionals working in Business Bay, Downtown, DIFC or even Dubai Design District.
Dubai Marina and Jumeirah Beach Residences (JBR)
The Dubai Marina has been developed by a variety of developers (albeit the primary one is Emaar), making for a diverse architectural landscape, while JBR was the brainchild of Dubai Properties. Both areas are major contenders for capital appreciation, given all the exciting new developments happening here. JBR’s The Walk and The Beach (a new beach-front attraction with licensed restaurants, cafes, a cinema and high-end shopping) are huge crowd pullers, and attract tens of thousands of visitors regularly. Prices for studio apartments in JBR depend on the view but start at about AED 1.2 million. Dubai Marina apartments average around AED 800,000 but can be found under AED 600,000 for lesser quality towers.
Dubai’s man-made wonder has aged gracefully. Properties on the Palm continue to appreciate, and will do so for the foreseeable future. Recent developments such as the Palm Mall have brought some much-needed shopping/retail facilities to the area. The Palm is also now connected to the metro system, thanks to the Al Sufouh tram which links up with the Palm monorail. Prices for studio apartments can vary dramatically depending on the age of the building, so you can expect to spend anything between AED 750,000 to AED 1.4 million on one.
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