5 Steps To Follow Before Buying Property in Dubai Marina
Dubai Marina, an iconic waterfront destination on the Arabian Gulf, is a metropolitan heaven with steel and glass towers, a marina alive with action and guzzling with energy. As home to these business entities and individuals who are looking forward to investing in this statured region, it becomes pivotal to strategize and understand the ever-volatile market of real estate.
To help you make a wise decision, this article will give you complete guidance before buying property in Dubai Marina and the main advantages of the area as an investment. If it is intended to buy a house for investment in the form of a rental property or if it is desired to own a lavish house for personal use, these steps will hence enable the person to efficiently understand and go through the real estate market of Dubai marina.
Dubai Marina Overview
Dubai Marina stretches for three kilometers and is lined with luxurious residential and commercial buildings, high-rise acmes included. Established by Emaar Properties, this neatly designed area is a perfect symbol of Dubai’s vision and progression. The marina is for luxury yachts and leisure boats, and the environments provided by the residents and visitors have the Arabian Sea in the background.
Dubai Marina residents get the best of both worlds: cosmopolitan lifestyle intertwined with marine calmness. The area is popular with dining places, café and bars, restaurants, nightclubs, and many other social places, and thus the area attracts a lot of people both residents and tourists. The Marina Walk which is a pedestrian way of shops, restaurants and cafes on either side where people watch the seafront is a popular attraction.
Dubai Marina is also advantageously located and is close to prime business areas such as Media City, Internet City, and Jebel Ali Free Zone. People are provided with easy access to some of the best educational centers, hospitals, and leisure facilities, which are nearby landmarks, like JBR Beach and The Walk at JBR.
Discussing in the context of real estate, it is possible to say that, Dubai Marina offers different options of properties, for everybody’s taste and pocket. High-end homes include spectacular penthouses, city and sea view apartments, and fashionable waterfront apartments and these luxuries are available for the choosy customers. For an investor who is aiming to obtain high rental income and a homeowner aspiring to live a dynamic life, Dubai Marina is a real estate opportunity of interest in the Dubai property market.
5 Tips to Buy Property in Dubai Marina
Below are some tips that can give you complete guidance before buying property in Dubai Marina;
- 1. Explore Its Benefits for Investing
- 2. Consider Second-Hand Properties
- 3. Embrace Unparalleled Views
- 4. Selection of Towers to Choose From
- 5. Understand the Community Lifestyle
1. Explore Its Benefits for Investing
As has been observed In one of the recent reports, Dubai Marina ranks among the high-ranking residential districts to transact when it comes to sales, this makes it ideal for business people who are in the real estate business because of the stable income from the rental business. Michelle Liddiard a luxury sales specialist in Dubai Marina stresses the factor that the area has a high rental yield of around 6% presently. 34% every year (as of January 2019, Property Monitor). This stable rental market guarantees a high return on the investment for every owner of the commercial property.
Apartments investors are found in Dubai especially in Dubai Marina due to high rental earnings but also because of the right position and lively. The major factor that promotes the constant rental market in the area is the needs of the tenants, foreign workers, and business professionals. This demand is further complemented by the fact that Dubai Marina is associated with a variety of facilities, allegedly with a sectional Aztec view and close to major business and leisure destinations.
Read More: Reasons to Invest in Dubai Real Estate
2. Consider Second-Hand Properties
It is a fact that construction projects arising in a developing city like Dubai are common. Nonetheless, getting around in areas with constructions that make continual loud noises and disturbances is quite challenging. Thus, purchasing a second-hand expensive property in Dubai Marina is another option. ‘Most of the construction firms are nearing the end of their projects, hence property prices in the area have some stability. ’ Also, Dubai Marina comprises many other superior properties, including lavish penthouses that are ideal for refined homeowners who are shopping around.
Potential buyers’ main preference for second-hand properties is location, as most of them bear established neighborhoods and are ready for occupation. Unlike, off-plan purchases where people buy property before construction is complete second-hand property enables one to occupy it or let it out as soon as possible. Furthermore, these buildings demonstrate well-developed environment management and provide tenants and owners with well-renovated interiors and various upgraded facilities with infrastructure, making it possible to produce rent straight away from the day of purchase besides meeting the need for a convenient home.
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3. Embrace Unparalleled Views
Today, Dubai Marina is practically inseparable from its skyline and the truly stunning scenery. Secondary locations providing views of the sea, Palm Jumeirah, and the marina itself are some of the most expensive. Selecting a property with a great view is not only for the enjoyment of life but it also increases the value of the property in a big way. According to Michelle, as is true with most spaces, higher floors are preferable and this gives credence to the status of these desirable units.
The importance of waterfront living goes beyond beauty and the comforts that come with such properties as there is a lot that can be gained regarding money matters. It has been also noted that premises with nice views have better book value and rent return, thus being considered a good investment option.
If you are a homeowner you may be opting to buy or build a house to live in, or maybe an investor who buys houses for rental purposes, considering views ensures your property appreciates over the longer term in terms of rental rates or re-sale value, while also allowing you to possibly attract as many prospective tenants as clients as you can.
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4. Selection of Towers to Choose From
Due to the ever-increasing number of residential towers in the Dubai Marina, it becomes very crucial to choose the right tower. Each of them presents various features concerning the services provided and location to various points of interest. Some of the general recommendations of towers suggested are Emaar Six Towers, Le Reve, and Liv Residences as these are well built, come up in strategic locations, and offer most of the necessary amenities. One must select a tower that is suited to his or her lifestyle preference and investment plan to achieve the right property acquisition.
That is why when comparing residential towers in Dubai Marina the analysis should consider such aspects as building image, the developer’s experience, and amenities within the building complex or district. Some of the special amenities found in premium towers are fitness facilities, a swimming pool, doormen services, and separate basement parking, which improves the standard of living of the residents and attracts a better caliber of tenants. Accessibility to parks and other recreation facilities, proximity to transportation, and commercial and eating places additionally increase a tower’s attractiveness and investment worth.
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5. Understand the Community Lifestyle
The new generation of the society in Dubai mainly consists of young professionals as well as families who are inclined to that kind of vibrant lifestyle and can appreciate the advantage of location. To be more precise, you become a resident of a true community that is active 24\7 In addition, Dubai Marina offers easy access to schools, nurseries, and recreational facilities. Regardless of whether they are office-goers working out of Dubai Mariana or those who commute to other areas of the city namely, JLT and Dubai Media City, the area is extremely convenient and the social element is always alive, making it a preferred residential area for most.
This kind of life in Dubai Marina is more collective and contributes to people’s well-being because they are a part of the community. Spending leisure time, one can have a good time eating in open-air cafes or take a stroll around the waterfront promenades, watch fascinating performances, or go in for sports and games – all are provided by Dubai Marina. Families can get education services in International schools; Childcare centers are available for expatriates moving to Dubai. Further, it is strategically located near the famous beaches of Dubai including the JBR Beach hence increasing the region’s recreational values and making it more attractive for people who seek houses to buy.
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Conclusion
Therefore, by understanding this complete guidance before buying property in Dubai Marina one has to plan well as well as give adequate consideration. Thus, the target investors can fully benefit from the distinctive appeal of Dubai Marina by familiarizing them with the market characteristics, selecting the right property type and location, and extending the property’s facilities to enrich the lifestyle that characterizes the community. For those seeking good rental returns, stunning views, or a ‘city within a city’ experience Dubai Marina is a perfect investment that sits in one of the most prestigious waterfront addresses in the city.
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