Want To Buy Waterfront Properties In Dubai? Here You Go!
Waterfront properties have always attracted Dubai homebuyers. This is why real estate projects such as Dubai Harbour, Riverside, Riviera, Bluewater Island and District One are among the most sought-after picks by real estate investors as well as end-users.
Properties facing water bodies add a luxury element to themselves and they offer a strong value proposition to investors in terms of buyers’ interest and appreciation in values. Thanks to the phase of slowdown in Dubai real estate sector, such properties are available to buyers at much reasonable levels and there may not be a more opportune time to secure these properties which are all likely to generate great returns in times to come.
If we talk about the capital values of these waterfront properties, it starts anywhere from Dh 1,000 in projects such as Business Bay and range up to Dh 5,000 a square foot in super luxury projects. The pricing of property depends on the profile and location of the project in question.
The average capital values of properties at Dubai Creek Harbour are hovering at Dh 1400 per sqft. That means a property measuring 2,000 sqft can be bought at Dh 2.8-3 million.
Sobha Hartland, on the other hand, is priced a notch higher with average prices in the range of Dh 1600 and Dh 2000, denoting a difference of around 10-20 per cent over Dubai Creek Harbour. Both these front-running projects have their own pros and cons. However, market experts believe that these properties will be the ones which will gain the highest traction once the overall demand and consumption pattern in the real estate sector in Dubai would start picking up.
Investors who believe in the value proposition of waterfront properties have several other options available at their disposal. This includes projects such as 1/JBR, Aykon City, Nikkie Beach and Tilal Al Ghaf. 1/JBR offers a tremendous value to buyers due to its direct access to a beach. The project is slated to be completed by the end of 2019 and around half of the project is already constructed, assuring buyers of speedy delivery. The average capital value for residential properties at 1/JBR are recorded at Dh 3,000 and one need to have a budget in the range of Dh 4.5-14 million to buy a property in this project.