Best Areas to Buy Property in Dubai: Palm Jumeirah & Business Bay

Best Areas to Buy Property in Dubai: Palm Jumeirah & Business Bay

The prime areas remained in demand throughout the year because of:
- Strategic locations
- Modern infrastructure
- Affordable rates

The best areas to buy a residential unit in Dubai are:
1. Dubai Marina
2. Business Bay 
3. Jumeirah Village Circle

The areas which are equally popular in the luxury category includes:
1. Palm Jumeirah
2. Downtown Dubai 
3. Arabian Ranches 

Key Performing Areas
- The buyers with limited budgets are mostly preferring suburban districts with affordable housing.
- The areas closer to the Expo 2020 site have picked up the race as well.
- The property demands had increased in more established areas renowned for offering upscale lifestyle.

Dubai Marina and Business Bay, Keeps On Dominating
1. The ideal location and the availability of modern amenities make Dubai Marina a preferred choice of many to buy property in Dubai.
2. The waterfront community attracts buyers and investors.

Property Transactions
- Dubai Marina recorded 1,142 transactions worth Dh2,592 million.
- 1,543 transactions worth Dh4,020 million during the two quarters of the year.  
- 1,678 transactions worth Dh5,149 million were made in Dubai Marina during the subsequent quarter.

Prominent Areas
1. Business Bay: A Mixed-Use Community
Highlights
1. Offering high-end apartments.
2. Act as the second most popular area in Dubai as two of the most expensive apartments in Dubai were sold in Business Bay during the third quarter. 
3. Valuing Dh40 million and Dh37 million.
4. Apartments are part of Volante and Dorchester Collection Dubai projects.

2. The Jumeirah Club
Highlights
Maintaining the position in the top 10 club:
- Jumeirah Lake Towers (JLT)
- Jumeirah Park
- Jumeirah Islands 
These communities remains popular throughout the year among investors and end-users. 

Recorded Sales
1. The communities collectively recorded sales figures of Dh1,114 million, Dh1,290 million and Dh1,259 million, during the first three quarters of the year.
2. The fourth quarter is expected to end on a high note due an increased activity in the property market.

3. Jumeirah Village Circle 
Highlights
1. Popular community that remained buyer’s favourite in 2021.
2. Lies close to Dubai Marina, JLT and Internet City.
3. Features mid-range to affordable properties.

Palm Jumeirah & Its Luxury Effect
1. Palm Jumeirah, the biggest man-made archipelago.
2. Has retained its position among the leading areas to buy property in Dubai. 
3. It is known for ultra-luxury residential properties. 

Sales
Dh72 million and villa valuing Dh77 million were sold in this community during the third quarter of 2021.

4. Arabian Ranches
Highlights
1. The area that enjoys wide recognition for luxury villas and townhouses. 
2. Act as one of the primary choices for buyers and investors during 2021. 
3. The area is set to launch new clusters of villas at the end of the first quarter of 2022.

Leading Areas
Other notable names among leading areas that are driving Dubai’s property market include:
1. DAMAC Hills
2. Emirates Hills
3. Downtown Dubai
4. International City
5. MBR City
6. Hills Estate

There are some of the major reasons why these areas remain popular with property buyers. Mainly due to its features:
1. Proximity to major landmarks
2. Availability of modern amenities
3. Its potential to produce a high ROI