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Dubai’s Best Area To Invest In Property

Dubai is a favorite destination among people looking to buy an investment property — and for good reasons. Its real estate market has been in robust shape over the years and estimates suggest that things will be even better in the coming years, especially with the pandemic phasing out. Real estate investors are spoilt for choice when it comes to picking a location, as Dubai boasts several hotspots. However, two areas particularly stand out. These are MBR City and Downtown Dubai. If you are looking to buy an investment property in Dubai, you may well want to start with either of these locations. Whether you are a beginner searching for your first investment or a real estate expert, both offer great returns in terms of lifestyle offerings, capital gains, and ROI. WHAT MAKES MBR CITY SPECIAL?Four reasons make MBR City a favorite among real estate investors. These are: LOCATIONMBR City is well-connected to the rest of Dubai, and the residents of this new master-community enjoy easy access to all important streets and highways. Plus, Dubai International Airport is just a 10-15 minutes drive away. As a result, it provides great connectivity to foreign travelers, visitors, and residents. PROPERTIESIn this new master-community, you will find a mix of residential communities and commercial establishments from many developers like Ellington Properties. In MBR City you will find a broad selection of luxurious villas and apartments, as well as mid-range apartments and townhouses within lush green, sustainable communities. LIFESTYLEThis part of the city is all set to become a popular destination among tourists and families with a range of services, amenities, and facilities catering to different cultural backgrounds. RETAIL AND SHOPPINGThe Meydan One Mall is home to Dubai’s biggest indoor ski slope and 620 retail shops, including a hypermarket and two major department stores. The residents of MBR City will enjoy easy access to one of the most exciting retail destinations in Dubai. LEISURE AND ENTERTAINMENTThere’s no shortage of entertainment options in MBR City. Among the most popular ones are Crystal Lagoons, the biggest man-made lagoon in the world, Meydan Golf Course, a 9-hole golf course spanning more than 7,000 yards of natural lakes and tee options, and Meydan Grandstand and Racecourse, one of the most popular race courses in Dubai. WHAT MAKES DOWNTOWN DUBAI SPECIAL?In Downtown Dubai, you will find thoughtfully designed spacious apartments. Some of the main reasons that make this part of the city popular among renters and buyers alike are as follows:   SOME OF DUBAI’S BEST SCHOOLS ARE IN DOWNTOWN DUBAIThere are several famous schools as well as nurseries in and around Downtown Dubai. These include Jumeirah International Nursery and Blossom Downtown Nursery. In addition to top schools and nurseries, the Downtown Dubai area is a few minutes drive from two of the best hospitals in Dubai, Emirates Hospital and Mediclinic Parkview Hospital. IT IS A CULTURAL AND NIGHTLIFE HOTSPOT IN DUBAINot only Downtown Dubai is home to the famous Dubai Mall, Dubai Opera and Burj Khalifa, but it also boasts some of the very best nightlife and dining venues that the city has to offer. Plus, there are many nightclubs and bars in this part of the city. IT IS CLOSE TO JUMEIRAH BEACHLiving in Downtown Dubai means you will never be far from the beach. If you are an avid beach-lover, that’s really good news. Jumeirah Beach is just a few minutes drive away from Downtown Dubai. OTHER OPTIONSApart from MBR City and Downtown Dubai, some of the other locations that you may want to add to your list include the following:

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Palm villa

Live in Dubai’s Apartment Or Villa?

Villas and apartments are both very popular options for residential properties in Dubai. Whether you are buying or renting, both options are available in different sizes, price ranges, styles, and locations. As such, residents may at times find it hard to decide which type of properties will suit them better. If you can’t decide between living in a villa or apartment in Dubai, this post is just for you. We have uncovered some of the main factors to consider so that you can easily and confidently make an informed decision. Price and Size For most people, price and size are among the most important factors while buying or renting a property. Generally speaking, apartments tend to have a lower entry price than villas in Dubai because villas usually offer a bigger internal space in addition to an external terrace or garden area. Of course, size directly impacts the price you end up paying. In other words, a 3-bedroom apartment is more expensive than a 2-bedroom apartment or studio in the same building. However, you may find a reasonably priced 3- bedroom villa 30 minutes away from the downtown that can actually cost you less than a two-bedroom apartment located in the center. So, it all depends on the location which we will talk about next. Location The other main factor to consider while deciding between a villa and apartment in Dubai is location. Some locations in Dubai offer a wide selection of sales and rental properties, but in many areas your choices are rather limited. For example, Downtown Dubai — one of the top neighborhoods located in the city and popular among buyers and renters for its central location — mainly offers apartments. A prospective resident is likely to find it difficult to get a villa in these parts. In contrast, suburban communities — like Dubailand — almost exclusively have beautiful townhouses and cozy villas. Maintenance costs It is important to understand the various maintenance costs involved in an apartment vs. a villa in Dubai. Generally speaking, villas are costlier to maintain than apartments for an obvious reason: A larger space and the lack of shared services (unlike an apartment located in a building). Lifestyle Which is a greater priority for you — convenience or privacy? If you said convenience, an apartment in Dubai is likely to suit you better. Because apartment towers in Dubai tend to be more centrally-located than villas, they are much closer to commercial hubs and leisure activities. But if you value privacy more than convenience, a villa is likely to work out better for you. In Dubai, villas are almost exclusively located in gated communities or residential areas a little away from the urban hubbub. Because these villas provide a quiet environment, they are perfect for families, especially ones with children. On the other hand, single professionals who want to live near the city center or couples looking for a property that’s a few minutes walk from malls or entertainment options might prefer the convenience of living in an apartment. Likewise, those who like having a private outdoor space or hate using the lift might prefer the privacy of a townhouse or villa. By contrast, social butterflies may like living in an apartment complex, where they can have more opportunities to chit-chat with the neighbors. Several trendy villa communities in Dubai — like Emirates Hills — also house nurseries and schools. Therefore, they are a great choice for families with kids. Budget-conscious buyers or renters, however, can consider living in apartments in popular integrated communities, like Jumeirah Village Circle or Mohammad Bin Rashid City, since they offer beautiful apartments and also feature schools and nurseries. Views For some buyers or renters this is not an important factor, but for some others the surrounding views is a big thing. Some high-luxury apartments offer unparalleled views, though they usually come with a steeper price tag. If you like to enjoy sweeping views of the Arabian Sea, you may consider a high-floor flat on Jumeirah or the Palm. On the other hand, those who prefer impressive Burj Khalifa or city skyline views are more likely to find apartments in Downtown Dubai to their liking. Many Dubai villas, in contrast, offer charming greeneries and lake views or golf course views. So, the choice between the two—villa and apartment—may also depend on your personal preference when it comes to the type of surrounding views. Amenities Last but not the least, you may also want to consider the facilities and amenities you will have access to. For instance, if you rely on Dubai Metro to commute to your office, an apartment might be a good choice. That’s because most villa communities are little farther away from Dubai Metro. On the other hand, apartment towers usually offer a shared pool and gym while villa communities offer more extensive facilities, like jogging tracks, tennis courts, community parks…etc.

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covid-19

How different is the Omicron compared to the Delta Covid-19 strain and will it affect the UAE real estate market?

With Omicron cases increasing sharply, many people are wondering how it is different from the Delta strain. If you are in UAE, you may be also wondering how the Omicron variant will affect the real estate market. This post aims to answer both questions. So, keep on reading. How is Omicron different from the Delta Strain? The World Health Organization (WHO) has declared Omicron and Delta as ‘variants of concerns.’ But many experts point out there are notable differences. Omicron might be less likely to lead to loss of taste and smell Loss of smell and taste were common signs of the Delta variant. However, these symptoms are not so prevalent in patients with Omicron. According to a recent study published by the US government, 48% of patients infected with the Delta variant suffered a loss of smell and taste. In contrast, another study done in Norway reported that only 12% of Omicron patients suffered a loss of smell and 23% of them reported a loss of taste. As to why this difference exists, there’s no clear-cut answer. Some say the difference is because of the nature of Omicron, while others believe this might be due to other factors such as the vaccination status. Omicron is less likely to cause breathlessness Delta variants caused breathlessness in a large number of people, even those who were vaccinated. Omicron, however, is not likely to have a similar effect and many doctors and scientists around the world hold this view. They reason since Omicron multiplies in the throat — not in the respiratory system as Delta does — it might not cause breathlessness. According to another recent study, Omicron is unable to hold onto a key protein in the lung’s surface, and, because of this, it doesn’t infect the lung cells as severely as Delta. Consequently, it is not surprising that there is a growing consensus among experts that the new variant’s effect on the lungs is likely to be minimal. This is great news for all of us. Because it means, unlike the Delta variants, in which a large percentage of the patients developed pneumonia and needed hospitalization, Omicron is likely to lead to fewer hospitalizations. A Danish study backs this theory. It reported that the risk of hospitalization from Omicron is half of that of Delta. This, while heartening, doesn’t mean we should let our guard down. Omicron is highly transmittable and hence each one of us should be on the top of their game when it comes to abiding by the latest Covid-19 prevention guidelines.   Omicron might cause gastrointestinal issues and nausea more often Omicron can infect some cells in a person’s gastrointestinal tract. That’s why Omicron-infected patients may frequently experience gastrointestinal issues and nausea. The Delta variant, by contrast, generally doesn’t trigger such symptoms. The incubation period of Omicron is shorter Compared to Delta, Omicron has a shorter incubation period. After being exposed to it, a person can develop symptoms, test positive, and become contagious in just 3 days. The Delta variant, on the other hand, has a 4 to 6-day window period, as did other previous variants. The shorter incubation period of Omicron is one of the reasons behind its rapid spread.  Omicron is more contagious than Delta According to research by French scientists, the Omicron variant might be 105% more transmissible than Delta. Compared with the latter, it is understood to be far more effective at circumventing vaccinated people’s immunity.   Will Omicron impact the UAE real estate market? Will Omicron spoil the part for UAE’s real estate sector? This is the question many have on top of their mind. The UAE real estate sector bounced back nicely in the last several months, but some are worried that this uptrend might get derailed. Fortunately, that’s not going to happen. Here are the main reasons why Omicron is not going to negatively affect the UAE’s real estate sector: The majority of the adult population in UAE is fully vaccinated Data suggests Omicron is far less dangerous than the Delta strain The government is not likely to impose new restrictions and the chances of a lockdown are very low There’s no indication that there is going to be any sort of ban on international passenger flights The UAE has managed the Covid-19 pandemic very well so far The UAE has a robust health care system All the same, it’s important that we continue to follow the latest Covid-19 guidelines. These include, getting vaccinated, wearing a mask, maintaining social distancing, coughing and sneezing safely, and washing our hands regularly.

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Harrington House

Five reasons to invest in a new property in Dubai

Growing at a faster rate than most other cosmopolitan cities, Dubai is replete with skyscrapers, idyllic spots, picturesque water views, and more. From the world’s largest artificial islands built in the shape of a date palm tree to the world’s tallest tower, Dubai has a lot that impresses anyone landing here for the first time. Looking to purchase property in Dubai? The real estate market here is as diverse as you can imagine and includes not only a standard commercial and residential inventory but also high-rise buildings, detached houses, and ultra-modern complexes. Plus, Dubai is ideally located between Asia, Africa and Europe, which is a big reason why experienced real estate investors from all over the world flock here. Here are top 5 reasons why investing in a new property in Dubai right now is a smart decision. Trustworthy, regulated real estate market The latest Global Real Estate Transparency Index from JLL ranks Dubai (along with Abu Dhabi) as the most transparent market in the entire MENA region. This index is regarded as key indicator of the health of the real estate market of any city. The government understands the importance of having transparent real estate policies, which is essential for attracting a lot of foreign investments. A case can be made for the new Open Data Law. It paves the way for the sharing of non-confidential data between non-government and government entities without any obstacles. What’s more, the Real Estate Regulatory Agency is also doing its bit to streamline processes. For instance, it has introduced several measures in the past few years to make Dubai’s real estate more regulated. Today, its real estate market is as well regulated as any other top international destination, like Singapore or Paris. Stable economy Dubai is no longer just an oil-dependent economy. Instead, the UAE has diversified its economy immensely in the last several years by developing other sectors like manufacturing and tourism. Dubai features many tourist attractions, like Palm Jumeirah and Burj Khalifa, and the ongoing 2020 Expo is expected to deliver a further boost to its travel and tourism industry.    Attractive Rental Yields Dubai, unlike many other cosmopolitan cities, offers a high ROI, which stands for return on investment. A key component of real estate returns is rental income. In contrast to capital appreciation, rental income matures immediately. Capital appreciation, on the other hand, is attainable only when you sell a property or release considerably home equity through a home loan. Dubai apartments achieved a 7% rental yield last year on average, despite the global slowdown due to the Covid-19 pandemic. Villas in Dubai, in contrast, registered a 5% ROI. In simple language, it means that if you buy a 2-bedroom unit for AED 1,000,000 and rent it, you will be able to recover the entire property value in 14 years only, even if the rental rate doesn’t grow further. Safety & High Living Standards Another reason to buy a new property in Dubai is its high standard of living. Dubai not only offers a modern lifestyle, but it also has a very low crime rate. As a matter of fact, the crime rate in the UAE is very close to zero, and consequently, it is considered as one of the safest countries in the globe. Different Types of Residential Units Dubai real estate has an impressive and diversified portfolio of residential properties. From ultra-modern apartments and studios in JVC or Downtown or beautiful townhouses and villas in Jumeirah, MBR City and Dubailand, Dubai has it all. No wonder then it is frequently referred to as the real estate capital of the Middle East. Where to buy a residential property in Dubai? Dubai is a prime real estate market offering all types of properties, including affordable and luxury assets. From an investment perspective, there are hundreds of suitable properties in Dubai. These include studios, apartments, villas, and townhouses.  If you are interested to invest in a high-yield apartment or a luxury townhouse in Dubai, then take some time out to check out all the available options on our website at www.ellingtonproperties.ae. Alternatively, you can also contact us anytime and we will be glad to assist you.

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Dubai real estate

The latest trends in Dubai’s rebounding real estate market

With UAE’s economy recovering well from coronavirus, it comes as no surprise that Dubai’s real estate market experienced steady growth since the first half of 2021. The big question, however, is — will Dubai’s property market continue to rebound in the rest of 2021 and beyond? If the latest trends are any indication to go by, the answer is likely to be ‘yes.’ So, what are the factors that have helped Dubai’s real estate market to rebound so well? According to the experts there are several contributing factors, the two most important ones being a successful Covid-19 vaccination plan and visa reforms. Experts are also almost unanimous in their opinions that the positive measures taken by the government to support the economy has also spurred demand in Dubai’s real estate market. In this post, we will look at some of the latest trends in Dubai’s rebounding property market. The Villa Segment is Expected to Perform Better than Apartments At present, the villa segment of the Dubai’s property market is performing much better compared to apartments, and this trend is likely to continue in the future as well. The positive momentum started building in the 3rd quarter of 2020 and has continued throughout 2020 and the first half of 2021. This has been possible because of the general positive market sentiment following improvements in the Covid-19 situation and concrete steps taken by the government to improve growth in the housing market and manage oversupply. The latest real estate data also confirm that Dubai’s real estate is rebounding exceedingly well. While Dubai recorded 35,041 sales worth Dh71.87 billion in 2020, the first half of 2021 has seen 27,373 transactions totaling Dh61.71 billion. According to the experts, this is the most impressive real estate performance in terms of sales transactions in the past 8 years. Prices have increased 1.3% in March 2021 The real estate market is experiencing an uptrend across the board. Real estate prices have jumped by 1.3% in March 2021 compared to March 2020. On year-to-year basis, this is the first increase recorded since 2015. Dubai’s real estate market bottomed out towards the end of 2020 (somewhere around November). Since then the real estate prices have jumped 7%. Premium properties are recording even better gains It’s no secret that the UAE has handled the Covid-19 crisis much better than many other countries. This is perhaps the biggest reason that why right now a large number of luxury buyers regard Dubai as the best place to put in their investments.  Many international and regional buyers have relocated to Dubai, spurring growth in the luxury property segment. In addition to a strong response to the pandemic, attractive prices are another key reason that has helped Dubai attract luxury buyers in hordes. According to many real estate experts, the present is nothing short of a historic time for the luxury real estate segment. Data, also points toward the same thing. Properties worth Dh10 million and more have recorded an all-time high market share of 2.5%.   Some other factors that have contributed to this uptrend are as follows: Low interest rates. Thanks to this, many tenants are turning into buyers Positive sentiment. The prevailing sentiment among investors is that since the real estate market has already reached its rock bottom in 2020, it is now safe to invest in it. Low prices. In many areas prices are even below replacement cost. This, as you may guess, makes for a great entry point for both first-time investors and seasoned investors. Occupancy rate is still on the lower side in B-grade apartments Even though Dubai real estate market is rebounding impressively, there are some lingering issues. For starters, occupancy rate in B-grade apartments which don’t offer many modern amenities is on the lower side. With that said, most experts agree this is nothing to worry about as it is a sign that people in this new “work-from-home” environment prefer better housing options such as A-grade apartments, townhouses, or villas that usually offers bigger space and more amenities. Perhaps this is the reason why the demand for beachfront properties has also jumped up.  However, off-plan market activity is expected to continue facing headwinds. According to experts, it has contracted by 29% on year-on-year basis in the first half of 2021. Nevertheless, they are also hopeful that improved demand and sentiment will soon improve things in this segment as well.

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Dubai Real Estate market shifts to virtual 360 tours

HOW DUBAI REAL ESTATE MARKET WAS AFFECTED BY COVID-19

In 2020, the Coronavirus pandemic had a clear impact on people’s life across the globe, physically, mentally and financially. It shifted the way we think and changed our daily routines and priorities. People who used to go out to eat at restaurants had to order in. Those who went to work five times a week had to adjust to remote working. The pandemic has changed us and the world economy significantly in all aspects, including the Dubai real estate market. Since the Dubai real estate market relies on international investors, the travel ban at the beginning affected the market negatively. However, as one of the leading real estate developers in Dubai, we had to show flexibility and proactiveness in how we conduct business. We went through a digital switch by making all the operations such booking, payments, registration and viewing, available online. Companies started adapting 3D viewing software that allows you to walk inside the space without having to physically be there. Integrated payment platforms were introduced, such us Network for Visa, Mastercard and UnionPay, and Bitcoin Suisse for cryptocurrencies such as Bitcoin and Ethereum. Implementation of easy-to-use forms for registration and file management systems for documents uploads and exchange. Brokers, clients and developers in Dubai are using a digital process through Zoom or Team. They are using them for meetings, virtual trainings and presentations, and more. With offices equipped with big screens, our property consultants are ready to join zoom meetings and use 360 virtual tours to assist clients anytime. Technology is allowing them to do things faster, with more efficiency and ease. Alongside the change in the digital process, customers’ tastes have also changed, needing living spaces that suit the “new normal”. We saw an increased demand for units that provide open spaces such as balconies, pools, gardens, clubhouses, courtyard and terraces. The need for fresh air and spaces to exercise were due to the promotion of a healthy lifestyle during the pandemic. With connection to outdoors, balconies have been a vital factor in selecting a one bedroom, two-bedroom apartment and even townhouses. This caused a realization that the community must become an extension of the residents living spaces. These changes positively impacted projects such as Belgravia 3 in Jumeirah Village Circle and Wilton Park Residences in Mohammed Bin Rashid City. Those projects are self-sufficient communities that offer residents everything they need within the community. With spaces such as gardens, terraces, balconies and yoga retreats, Belgravia 3 and Wilton Park Residences fulfill the demand for spaces that brings the outdoors, indoors. The pandemic has had a strong effect on the economy in Dubai during the lock-down. In such situations, it is important for people to have a passive income from investments such as real estate. A passive income means earnings obtained from rented property, limited partnership, or any other undertaking. It also means that a person does not partake in an active involvement in it. It is important because it creates a security net that provides stability and financial freedom. In 2020, Ellington Properties partnered with Smartcrowd to offer a shared investment in Eaton Place. The prices start as low as AED 5,000. This generates a good ROI without having to invest in a full apartment. Many investors are becoming share-owners of the same apartment, getting returns pro-rated to their investment share. There is no doubt that the pandemic has changed the world, and created a shift in Dubai’s real estate market. People adapted to this new normal, and so has the market. It provided residences such as the Belgravia Series, Wilton Park Residences and Wilton Terraces. Communities have become more family-oriented and self-sufficient, providing their residents with all the necessities.

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