Having been a freehold community, Dubai Marina has been housing a huge number of expats. Perfectly located near the Interchange 5 on Sheikh Zayed Road within close proximity to famous landmarks like Emirates Golf Club, Internet City and the American University of Dubai, the waterfront community is efficiently offers a lively atmosphere and luxury lifestyle facilities for expat workers. Spreading over the huge area of 50 million sq ft, the project consists of several purposefully constructed towers. Tenants and buyers can choose to rent or buy from spacious studio units to 1-5 bedroom classic apartments and podium villas. The whole development is built around an artificial canal that gives direct access to sea from both ends. Most of the towers offer panoramic sea views and stunning canal views.
Residents can enjoy the Riviera-style living in high-end luxury units. The community consists of total ten districts which are skillfully designed to create perfect ambiance for both single workers and expat families. The project also houses Emirate’s finest restaurants, entertainment and leisure facilities to amuse everyone living and visiting this neighborhood.
When to buy home in premier residential communities
However, the community is perfectly suitable for both conventional buyers and investors alike. It is possible end-up with a good deal if a buyer wisely chooses to buy suitable time to purchase a property. The best way to identify the right time is to keep on checking property market reports discussing the latest market trends. Recently a market report by Unitas Consultancy and Reidin.com reveal some interesting facts about buying assets in leading Dubai developments. The report was based on the analysis of transactional activities and prices during the past eight years. December and January are found to be the most suitable time to purchase an apartment or villa respectively across all major communities across the city, including Dubai Marina. In contrast to that June, July and September are observed as the best months for selling assets.
Primary factors affecting property prices
In addition to these facts and figures, The Dubai Land Department (DLD) has observed a sizeable growth in total number of property transactions during the first quarter of current year 2015. The total number of real estate transactions crossed Dh64 billion as compared to Dh61 billion transactions in 2014. Fast growth rates clearly displayed sound trust of real estate investors in Dubai property market. However, a price comparison of villa and apartments revealed that prices are actually softening after the property bubble of 2008. Now they cost 20 percent less than as compared to 2008. Still, there are probabilities that progressing slowdown of prices stabilise asset market in the next few months. This is mainly because of several new projects are expected to complete before the end of this year. Such market conditions promote buyers to negotiate over prices. Whereas, homeowners that were initially sold their assets at higher prices are now ready to sell at lesser prices. Irrespective to recent market trends, rises and declines are also dependent on location. Especially, when it comes to buying high-end Dubai Marina property, location is the key factor to determine the price.
Summary: Whether you want to buy a villa or an apartment unit, such market updates about pricing and location will facilitate you to make right decision.