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If you’re eyeing investment opportunities in Dubai, the vibrant locale of Internet City stands out for off-plan projects. As a bustling hub for tech companies, it's attracting a mix of residential and commercial developments. Here’s everything you need to know about selecting the right projects in this thriving community.
Quick answer: Discover the latest off-plan developments in Dubai Internet City, including fees, yields, and why it's a prime location for investment.
Recent trends indicate over AED 3 billion is being invested in residential projects within the Internet City area. These include modern apartments and upscale townhouses aimed at young professionals and families alike, creating a diverse community atmosphere.
Pro tip: Keep an eye on the completion dates, as many projects are set to hand over starting late 2024.
When purchasing off-plan, be prepared for certain fees. The Dubai Land Department (DLD) generally imposes a registration fee of 4% on the property value upon signing the agreement. Additional service charges can also range between AED 15 to AED 20 per square foot, depending on the project's location and infrastructure.
The rental yield for properties in this tech-savvy district often hovers between 6% to 9%. With an influx of professionals moving to the area, the demand remains consistently high, keeping these returns competitive.
New developments typically offer a range of units. Here, you can find everything from affordable 1-bedroom apartments starting at AED 800,000 to luxurious 3-bedroom penthouses priced above AED 2 million. Having such diversity allows you to match your investment strategy with your budget.
Watch out: Flexibility in payment plans can often mean improvements in your cash flow management.
For a 1-bedroom unit priced at AED 800,000 with a 20% down payment and a 4.25% interest rate over 25 years, the estimated monthly mortgage payment would be approximately AED 3,710.
If you manage to rent the unit at AED 60,000 per year, the yield would be about 7.5%, presenting a solid investment strategy.
For further insights on properties in Internet City, check out the latest listings or explore more on current projects. Understanding the unique nuances of this locality can help you make informed investment decisions.
Investors can choose from various residential units, including studios, 1-, 2-, and 3-bedroom apartments.
Most projects anticipate completion between late 2024 and early 2025.
Service charges generally range from AED 15 to AED 20 per square foot.
The rental market offers competitive yields between 6% to 9%, greatly appealing to investors.
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