Rajiv Ghanekar, senior real estate broker, Keller Williams Real Estate
I have been advising my clients to restrict their investments to prime locations only. And today, at Dh1.5 million, you can target Palm Jumeirah, JBR, Dubai Marina, the Greens and Views, Jumeirah Lakes Towers, Business Bay and potentially Downtown Dubai too. These are fully developed communities with infrastructure in place and still hold a high rental demand. For those looking at town houses, the Springs and Arabian Ranches are a good choice. Buyers can comfortably secure town houses that are two-bedroom plus a study and three-bedroom plus a study if they stretch their budgets a bit. For newer communities, I would recommend Mira, Arabella, Town Square and Damac Hills to name a few — all on Al Qudra Road. Remember, not all houses will be sold as vacant or vacant on transfer. If you are looking for vacant properties only, you are limiting your options. So plan ahead, buy a rented property and be a landlord for a year, before you move in. The rented properties often come cheaper.
If you have Dh1.5 million, look at Downtown and the Hills where you can purchase two-bedroom apartments. In Dubai Marina, buyers can even get bigger three- and four-bedroom units. Buyers can purchase a three-bedroom town house plus a maid’s room in Reem Mira and Arabella in Mudon. I recommend end users to buy a town house instead of apartment as service charges of a town house is generally three times lower then that of an apartment — and if they require at least three bedrooms. For investors, I suggest to focus on one-bedroom units.
Buyers can also buy a three-bedroom-plus-maid’s-room villa in Warsan Village and Damac Hills. Several other locations like Arabian Ranches 1, Business Bay, Discovery Gardens, Dubai South, JVC, JVT, Nshama, Arjan, Marjan, Town Square, Studio City and JVT will provide multiple choices of one-, two- and three-bedroom apartments.
Homebuyers considering a studio, one-bedroom or two-bedroom apartment should shortlist areas such as Business Bay, Downtown Dubai, Dubai Marina, Dubai Sports City, Discovery Gardens, JLT, JVC, JVT, the Palm Jumeirah and Town Square.
Those who are interested in town houses should consider communities such as Springs, JVC, Mira at Reem, Mudon and Damac Hills. When buying a town house, remember that the price will depend on the location of the community and the property’s location within the community.