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DAMAC PropertiesForeigners can purchase properties in Downtown Dubai, UAE, through our international portal Global-Property.Investments, which hosts over 137 listings from verified agents and reliable developers. The location is among the freehold areas of the city, where real estate is available for private ownership to citizens of any country. The process of buying property in Dubai typically involves the following stages:
- Finding a suitable property for sale in Downtown Dubai. Search filters make it easy and convenient to select the most interesting offers.
- Payment: Foreigners can purchase villas and apartments in Dubai either entirely with personal funds or with the help of mortgages from local banks. Payment plans are available for off-plan properties.
- Transaction processing. Once the terms of purchase have been agreed upon, a preliminary contract of sale must be signed, followed by the main contract.
- Registration of ownership. Upon completion of the transaction, the buyer must register the title to the property.
- The minimum cost of property in Downtown Dubai is USD 289992
- The maximum price is USD 204.22 million
- Over the past year, the prices have increased by 20%
- Minimum area: 35 m2
- Premium class residences can span up to 6,650 m2
You can obtain UAE residency by purchasing apartments or villas in Dubai if the value of real estate is at least USD 204,000.
Property in Downtown Dubai
This community stands as one of the most sought-after locations to buy property in the city. Its advantages include:
- Presence of the city's largest shopping and entertainment venues, including the largest mall, which features a giant aquarium, an Olympic-sized ice skating rink, a state-of-the-art multi-screen cinema and numerous cafés, restaurants and clubs;
- Modern transport infrastructure, characterised by wide roads and large car parks;
- Well-established public transport system, with buses, metro and water transport readily available;
- The centrepiece of the community is the legendary Burj Khalifa, the world's tallest skyscraper. Next to the skyscraper is a giant fountain that entertains residents and guests at night with stunning lights and music shows.
The majority of residences in the area are in the elite segment. Additionally, multi-storey residential, hotel and mixed-use complexes occupy a significant portion of the community.
Buyers can choose from a wide range of real estate for sale in Downtown Dubai:
- Studios
- Classic apartments with 1, 2, 3, 4 bedrooms
- Penthouses occupying the top floors of skyscrapers
- Duplexes
- Elite villas
Residents of the complexes have access to a wide range of amenities, including pools, spa centres, well-equipped gymnasiums, cafés, lounge areas, games rooms, terraces with landscaped gardens and more.
Residences are sold with finishes, installed air-conditioning systems, fitted bathrooms and kitchens. Additionally, buyers have the option of choosing fully furnished apartments.
Reasons for investing in property in Downtown Dubai
Purchasing properties in Downtown Dubai for investment is an easy and reliable way to preserve and grow capital. The area attracts numerous tourists every year, which helps maintain high rental rates. Over the past year, these rates have increased by 18%. Furthermore, property prices are rising annually. An analysis of 2023 data reveals that the cost of completed apartments in the area has increased by 20%.
Construction of new complexes is still underway in the centre of the city. Apartments in the foundation stage can be purchased directly from the developer at a favourable price. Such a purchase can be paid in interest-free instalments, gradually contributing money throughout the construction process. By the time the work is completed, the value of the real estate will have increased by approximately 20% from the initial price. The housing unit can then be resold or rented out at a good profit, generating a stable passive income of 6.5% per annum.
Buying real estate in Downtown Dubai
Our website will help you find the perfect real estate in Downtown Dubai to purchase, whether you are looking to relocate or invest. Our extensive catalogue offers apartments, villas, penthouses and other types of real estate. Both fully furnished apartments with furniture and appliances and residential units under construction are available. Additionally, for your convenience, there’s an option to view prices in different currencies.
Demand for quality housing in one of the most prestigious areas of the emirate remains consistently high, leading to attractively priced and featured properties being snapped up quickly. We are continuously updating our catalogue so that you can be the first to know about special offers from major developers and estate agents. Advanced searches by area, number of bedrooms, price, floor and many other parameters make it easy to find suitable options for future purchases.