Apartments and flats for sale in Downtown Dubai

Apartments for sale in Downtown Dubai

The residential property market in the central district of Dubai primarily consists of studios, apartments and penthouses. They are typically situated within high-rise complexes, many of which offer a range of amenities including:

• Lounge spaces and concierge service at the entrance;
• High-speed elevators;
• Parking lots;
• Terraces with swimming pools, Jacuzzis and areas with sun loungers for outdoor relaxation;
• Air-conditioned gyms and outdoor sports areas;
• Children's play areas.

Most of the central community is already developed, resulting in offers for the sale of housing, primarily appearing in secondary objects. Such apartments are fully ready for occupancy, often furnished and even equipped with all necessary appliances. The advantage of completed apartments in Dubai is that the buyer doesn’t have to wait until the residential complex is operational. You can rent or move into the apartments immediately after the deal is finalised.

Today, several apartment complexes under construction can be found in the neighbourhood. Among the main advantages of considering an apartment for sale in Downtown Dubai at the excavation stage is the financial benefit. Such properties are sold directly from the developer at a more affordable price, which increases as construction work progresses. So, by the time the residential complex is operational, the cost of apartments can increase by up to 20%. Additionally, buyers of real estate at the construction stage have access to interest-free instalments. Developers offer various payment schemes. Typically, the first instalment ranges from 1020% of the total amount. Part of the cost is paid in small instalments during the construction of the property and the remainder is paid when the keys are handed over to the owner.

The process of buying an apartment in Downtown Dubai or any other location in Dubai for a foreigner is relatively simple and swift, comprising several stages:

• Selection of real estate with the aid of an aggregator website;
• Personal or online viewing;
• Verification of documents and ownership of housing;
• Making a deposit and booking the selected property;
• Conclusion of a preliminary agreement;
• Payment of the full purchase amount and conclusion of the final contract;
• Payment of government fees, charges and brokerage fees;
• Registration of the title of ownership in the department.

The purchase of real estate is conducted through cashless means, typically via bank transfer. In some cases, sellers may accept payment in cryptocurrency. For individuals unable to be present during the contract signing, remote transactions are possible. To do this, a power of attorney is drawn up for a broker or a lawyer. The latter concludes the purchase and sale agreement without the direct participation of the buyer.

Reasons for investing in an apartment in Downtown Dubai

Many foreigners consider purchasing apartments in Downtown Dubai for investment as a reliable way to protect capital from inflation and generate passive income. Today, the area is nearly fully developed and housing here is steadily increasing in price.

The central community, home to the largest shopping centre in the emirate, the opera house, the famous skyscraper Burj Khalifa and other attractions, draws tourists from all over the world. For this reason, investors opt to rent out their apartments in Downtown Dubai, UAE, thereby receiving a substantial passive income.

Hence, the initial rental cost of a small studio here starts from USD 17,700 per year. The annual rent of a two-story penthouse reaches USD 503,700. Rental rates in the neighbourhood increase annually, with last year seeing a growth of 18% in rental prices.

Buying apartments in Downtown Dubai

On the site Global Properties, one can explore a wide selection of offers for sale, including studios, apartments with 15 bedrooms, penthouses and duplexes in the central district of Dubai. In the catalogue, there are both budget-friendly options and designer residences of premium class. Each buyer can quickly find the desired object by setting certain parameters for the search to buy a flat in Downtown Dubai without any issues. The service enables you to sort ads by cost, total area, number of bedrooms, floor of the house, location and other criteria.

If needed, you can seek assistance from the service operator in selecting a flat or a villa in Dubai. The continuous updating of our catalogue ensures that buyers are aware of new, compelling offers, enabling them to find the best apartment for their future purchase.