Deira: Affordable Offers Starting at AED 500,000

Quick answer: Discover Dubai's affordable neighborhoods for property investment that suit your budget and lifestyle. Maximizing value is key.

Deira continues to be one of the most affordable areas in Dubai. Properties here can start at around AED 500,000, making them accessible for first-time investors. You’ll find a mix of ready units and off-plan projects, perfect for those looking to enter the market without breaking the bank.

Pro tip: Check out the upcoming developments slated for handover in the next 1-2 years!

Al Quoz: Options Under AED 800,000

If you’re seeking a blend of affordability and artistic vibes, consider Al Quoz. Here, properties often range between AED 600,000 and AED 800,000. The area is quickly evolving, with new projects fostering a creative atmosphere.

Watch out: Be mindful of service charges as they can differ significantly between developments.

Mirdif: Family Homes Affordable at AED 1.2 Million

For family-oriented investors, Mirdif provides spacious options averaging AED 1.2 million. It’s known for its community feel—perfect for those looking for a long-term home.

Quick math: With a typical mortgage rate of 4.5% for a 25-year term, the monthly payment on a AED 1.2 million property, assuming a 20% down payment, would be around AED 5,000.

Dubai Studio City: New Developments Under AED 850,000

Dubai Studio City is emerging as a great option for those wanting modern living. New developments in this area start at AED 650,000, making it attractive for younger buyers and investors targeting rental income.

Al Furjan: Affordable Community Living Options

Al Furjan is gaining popularity with units available from AED 900,000. This area is family-friendly and known for its parks and recreational facilities, making it an appealing choice for investing.

By the Numbers

• Average property price in Deira: AED 500,000
• Average property price in Al Quoz: AED 700,000
• Typical price range in Mirdif: AED 1.2 million
• Units available under AED 850,000 in Dubai Studio City: 150+
• Average monthly rental yield: 6% in Al Furjan
• Expected service charges: AED 12-15 per sq ft across these areas

Example Calculations

Mortgage Example

For a property worth AED 1.2 million with a 20% down payment:

• Down payment: AED 240,000
• Financed amount: AED 960,000
• Monthly payment (at 4.5% interest rate): ~AED 5,000

Rental Yield Scenario

In Al Furjan, if you purchase a property for AED 900,000 and rent it out for AED 5,500 monthly, you can expect a rental yield of approximately 7.3%.

Frequently Asked Questions

What is the average down payment when buying in Dubai?

Typically, you’ll need a down payment of at least 20% of the property price.

Are there any hidden costs in property purchases?

Yes, buyers should consider DLD fees, Oqood registration, and service charges.

What areas are best for rental yields?

Areas like Al Furjan offer competitive rental yields, often ranging from 6% to 8%.

How to choose the best area for investment?

Consider factors like location, amenities, and growth potential to make informed choices.

Is financing available for off-plan properties?

Yes, many developers offer flexible financing options for off-plan projects.

Can foreign investors buy property in Dubai?

Absolutely! Dubai is very welcoming to foreign investors.

Interested in finding a property that suits your lifestyle? Check our curated listings at AI Property Recommender to get started!

Related reading

• Best Areas to Buy Affordable Property in Dubai
• What Do You Need to Know About Off-Plan Opportunities in JVC?
• Affordable Areas to Rent Apartments in Dubai
• How to Buy a Property in Dubai

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