Over the past decade, Dubai's real estate landscape has undergone an incredible transformation, establishing itself as a shining star on the international real estate market. The skyline has filled with towering skyscrapers and high-end developments, each contributing to its growing appeal.
In 2013, following the global economic recession, investors approached Dubai's real estate sector with a mix of caution and hope, carefully evaluating the market's potential. However, these initial steps paved the way for Dubai to become the bright and shining real estate hub it is today.
Dubai's real estate sector has embarked on a path of impressive development and refinement, attracting buyers from around the world eager to acquire properties with full ownership rights. The city's forward-thinking policies and business-friendly atmosphere have made it an attractive investment destination.
Freehold areas are specific zones in Dubai where foreign nationals can purchase real estate with full ownership rights. Dubai was the first to offer freehold properties to expatriates and foreigners. In 2001, the government allowed expatriates to lease freehold land for a duration of 99 years. Then, in 2002, the Freehold Decree was introduced, allowing foreigners aged 21 and over to buy, sell, lease, or rent freehold properties in certain areas of Dubai. Gradually, many neighborhoods in Dubai were designated as freehold areas.
In Dubai, there are primarily two categories of freehold properties:
Residential Freehold Properties:
These include apartments, villas, townhouses, and residential plots that individuals can fully own. Owners can reside in these properties, rent them out, or sell them freely.
Commercial Freehold Properties:
These are properties designated for commercial use, including offices, retail spaces, and warehouses. Foreign owners can fully own these properties, use them for commercial activities, or rent them out for rental income.
Choosing a place to live in Dubai can be challenging, given the diversity of available freehold communities. Whether you're looking for something modern and luxurious or something friendly and family-oriented, a freehold neighborhood in Dubai is an excellent choice. Here are some of the most sought-after freehold neighborhoods in Dubai.
Famous for its iconic Burj Khalifa and Dubai Mall, Downtown Dubai is a sought-after location for those who want to be at the heart of the action. Expect to pay a premium for this convenience, with studio apartments averaging AED 1.38 million, one-bedroom apartments AED 2 million, and two-bedroom apartments AED 3.6 million.
JBR is known for its stylish apartments offering stunning views of the Persian Gulf. Studios typically cost AED 2.93 million, while one-bedroom apartments are around AED 2.99 million. You will also find two-bedroom apartments at AED 3.5 million and three-bedroom apartments at AED 4.85 million.
For a truly unique living experience, Emaar Beachfront is a new gated community near Dubai Harbour, offering some of the city's most luxurious and expensive apartments. The average cost of an apartment here is AED 5.26 million.
This trendy neighborhood is home to Ain Dubai, the world's largest observation wheel. Bluewaters Island offers modern apartments ranging from one to four bedrooms. Studios are not available, but one-bedroom apartments start at AED 3.6 million, and two- and three-bedroom apartments are available at AED 7.5 million and AED 11.5 million, respectively.
Located near Ibn Battuta Mall, Discovery Gardens offers spacious residential units at affordable prices. The average price of a studio is AED 451,000, and one-bedroom apartments start at AED 686,000.
Looking for affordable apartments? IMPZ has you covered with studios available for around AED 400,000, one-bedroom apartments averaging AED 768,000, and two-bedroom apartments at AED 1.1 million.
This gated community offers apartments in a serene and green environment. Studios are priced at AED 410,000, one- and two-bedroom apartments range from AED 591,000 to AED 977,000, and three-bedroom apartments are available for around AED 1.4 million.
Often referred to as ‘JLT’, the Jumeirah Lake Towers is made up of large towers, all framed by palm tree lanes, gardens and shopping and dining centres. Visitors come here to admire the skyline, stroll by the lakes and enjoy the 500 or so shops and 300 restaurants. There are also children's playgrounds and a jogging track on the lakeshore. The property market here is also extremely dynamic and always very luxurious.
A well-established residential area with a family-friendly atmosphere, The Greens offers apartments along Sheikh Zayed Road. Studios are not available, but one-bedroom apartments are priced at AED 1.44 million, two-bedroom apartments at AED 1.79 million, and three-bedroom apartments at AED 2.34 million.
Located next to The Greens, The Views offers stunning views of the Emirates Golf Club. Studios are priced at AED 910,000, while one- and two-bedroom apartments are available at AED 1.5 million and AED 2.5 million, respectively.
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