Dubai is one of the Middle East’s fastest-growing, most dynamic cities. Over the last 10 years, it has become a top destination for travelers and expatriates seeking better economic and lifestyle opportunities. Demand for property has increased and led to a boom in the market, especially for prime real estate. As such Dubai Marina real estate prices among other luxury areas have increased resulting in higher rental and capital returns for investors.
The Emirate city’s continued growth in popularity has been further bolstered by a series of strategic initiatives that are set to establish it as the first global city in the Middle East.
One example is UAE Vision 2021 in which the government invested AED 300 billion in expanding key growth sectors such as healthcare, technology, transportation, education and renewable energy. All of this, and the fact that buying property is extremely accessible for international investors, makes Dubai an attractive destination for investors seeking new opportunities in the region.
Dubai’s overall real estate market has grown by 59.5% in property sales volume and 78.4% in sales value. Although it is in the prime real estate category that the city has experienced the most growth. Today, we take an in-depth look at one of Dubai’s top prime real estate locations: Dubai Marina. Find out about the current state of investment in Dubai Marina and what exactly makes it such a popular spot for property seekers.
Dubai Marina Overview and Community
One of the top investment spots in New Dubai, Dubai Marina is the world’s largest man-made marina and is home to more than 120,000 residents. Attracting investors, home-buyers and tourists all year round, Dubai Marina offers residents and holiday-makers a vibrant community in a prime location and combines the best of urban lifestyle with luxury riviera living.
Along the waterfront stretch of Dubai Marina is a vast variety of leisure activities and ultra-modern amenities including shops, restaurants, cafes and bars. This area of Dubai is also home to many businesses, both local and international brands.
The Marina is situated within close proximity to other areas of interest in Dubai such as Dubai Media City, Dubai Internet City and Dubai Knowledge Village. This makes it an ideal spot for expatriates moving to the city who want to enjoy the lifestyle benefits of beachside living without enduring a long commute each day. Many transport links connect Dubai Marina to the rest of the city, including buses, trams and the metro. The airport is just a 30-minute drive away.
Dubai Marina is home to a variety of premium, business and residential properties. Apartments are particularly sought after here due to the incredible sea and skyline views they offer, as well as the high-end facilities available in most residential buildings. Most offer beach access and are equipped with gyms, swimming pools, spas and more.
Growing Interest in Dubai Marina Real Estate Investments
In the latest Dubai real estate news, research by LuxHabitat Sotheby’s found that sales volumes in prime real estate increased by 23% in 2022, with a total transaction value of AED 21.5 billion reached.
Dubai Marina was one of the areas of the Dubai prime real estate market that showed a significant rise in investments by the end of Q3. Interest in Dubai Marina real estate from local and international investors has led to asking prices increasing by approximately 10%, as such, the annual rental yield sits at around 6%.
As per Zoom Property Insights, three of the world’s most expensive properties sold in 2022 were located in one of Dubai’s most exclusive high-end areas, Palm Jumeirah.
According to the Dubai Property Market Report, high-net-worth investors are keen on Dubai Marina due to the fact that it’s an integrated waterfront community, with modern and high-end luxury apartments that produce excellent rental yields. Further, the Dubai Marina district continues to remain popular, particularly as the new Dubai Harbour development nears completion.
Other prime Dubai neighborhoods for real estate include Downtown Dubai, Business Bay and Palm Jumeirah.
George Azar, CEO at LuxHabitat Sotheby’s International Realty, says he expects demand to continue throughout 2023 and commented on the growing popularity of Dubai for international investors:
“While many markets worldwide are facing geopolitical and economic uncertainty, Dubai continues to be a beacon of resilience. In recent months we are seeing investors from the UK, India and Germany driving demand, with many of our buyers looking for ready properties and branded addresses.”
Discover Dubai Marina Real Estate Properties With Maple & Rose
As one of the rising and leading real estate companies in Dubai, Maple & Rose offers a selection of prime Dubai Marina real estate for sale.
Our team is composed of the best real estate agents in Dubai who can help you find your ideal property match. Whether you’re seeking commercial property to turn into an office space, a luxury family villa or an affordable Dubai Marina apartment – we can help.
Some of the top Dubai Marina property listings from Maple & Rose include TFG One, Marina Residence, Ciel Tower, and West Avenue. You can browse the full range of Dubai Marina real estate opportunities on the Maple & Rose website, where you can read an overview of the properties as well as an in-depth guide to the various districts in Dubai.
At the core of what we do is the fact that we care about people. We ensure that our agents have the tools, skills and support they need to tackle the many market challenges. In turn, this allows us to provide exceptional customer service and guide the client through the entire buying process.
By choosing to trust us with your real estate investment needs, we guarantee we’ll find the right property for you at the best price possible.
Discover the latest properties for sale today from Maple & Rose