Apartments are the most popular type of real estate to purchase in Dubai. In 2021, about 60% of the total number of all purchased property in the emirate were apartments. Buying apartments offers many advantages; there is a great demand from tenants, a wide selection of residences of different sizes, different costs and locations, as well as a profitable option for investment
–the ROI of apartments in Dubai reaches anywhere between 5-8%.
The most popular areas to buy residences in 2021 include Business Bay, Jumeirah Lake Towers, Dubai Marina, Jumeirah Village Circle, Downtown Dubai, Dubai Harbour, Dubai Creek Harbour and Mohammed bin Rashid City. It should be noted that the purchase of off-plan
apartments is very popular as well as this is indicated by the graph from the Property Monitor website for April-September of this year. In addition, off-plan real estate was more popular than ready-made in the summer months. This trend is explained by the launch of new projects, additional bonuses from developers and a flexible phased payment scheme.
Apartment price growth trends are observed every quarter: AED 1,263,000 (USD 344,000) for the 1st quarter and AED 1,914,000 (USD 521,100) for the 4th quarter. The most expensive apartments are located in the following districts: City Walk, Palm Jumeirah, Dubai Festival City and Dubai Hills, where on average, prices range from AED 2,070,000 (USD 563,600) to AED 2,860,000 (USD 778,700). In the Dubai Residence Complex, International City and Discovery Gardens, you can find more affordable apartments where prices start from AED 275,000 (USD 74,900).