HOT OFF THE PRESS: Dubai’s top 10 highest-yielding communities!
This week, our Chairman; Lewis Allsopp spoke to CW Property, being featured in their August Print Edition on all things real estate and spoke about Dubai’s top 10 highest rental-yielding communities.
After being ranked seventh in the IMD World Competitiveness Ranking and crowned one of the best cities to work in globally, Dubai has been a magnet when it comes to attracting an influx of residents and investors.
Following this trend, Dubai welcomed 50,000 new residents in H1, alongside an expected further influx of over 6,000 millionaires within the year. Reflecting this growth, Allsopp & Allsopp recorded an 81% surge in rental viewings and a 36% rise in new listings in H1 compared to last year.
To this, our Chairman; Lewis Allsopp shared his insights for investors looking to capitalise on high rental yields.
Below we have listed the city’s top 10 highest rental yielding communities.
Dubai Investment Park (DIP)
Dubai Investment Park (DIP) is a lively community that mixes homes, businesses, and industrial areas. It's quickly becoming Dubai's new commercial hotspot, especially popular with young adults and new businesses relocating to Dubai.
Located near the Expo 2020 site and Al Maktoum International Airport, DIP is expected to become Dubai’s next big hub as the area is well-planned with lots of green spaces and affordable housing, making it a great choice for investors.
The demand for rental properties in DIP is high, leading to strong rental returns. Investors can enjoy a gross rental yield of 10.71% year-to-date (YTD). Property prices start at AED 295,000 for a studio apartment and go up to AED 1.7 million for a four-bedroom apartment.
Check this community out here.
Dubai Silicon Oasis (DSO)
Dubai Silicon Oasis (DSO) is a tech-focused area that offers a mix of homes, offices, and leisure spots. The community is home to various companies, making it ideal for tenants seeking quality units close to their workplaces and a lively neighbourhood.
Known for its emphasis on innovation and technology, DSO features smart home developments and sustainable towers, all while providing affordable housing.
Investors can expect steady rental demand and strong returns, with year-to-date gross yields of 10.23%. Property prices here start at around AED 350,000 for a studio apartment and go up to AED 1.5 million for a three-bedroom apartment.
Check this community out here.
Motor City
Motor City is a popular spot in Dubai, especially among the younger crowd, thanks to its automotive and motorsports theme.
The area has commercial towers, spacious apartments, and villas, along with parks, schools, and lots of retail and dining options. This unique theme and family-friendly vibe attract many tenants, which has in turn provided high rental yields for investors.
In Motor City, investors can expect gross rental yields of no less than 8.8% year-to-date (YTD). Property prices start at AED 500,000 for a smaller unit and can go up to AED 2.6 million for a four-bedroom apartment.
Take a look at our live listings in this community here.
Jumeirah Village Circle (JVC)
JVC is one of Dubai’s popular communities, being the highest yielding in all of 2023, and one of the highest transacting - it has been attracting strong rental demand and offering good rental yields for investors.
Known for its family-friendly vibe and affordability, JVC offers a range of rental options, from apartments to villas. Its parks, schools, retail outlets, and easy access to highways make it a top choice for families and young professionals alike.
Investors can expect gross yields of 8.65% year-to-date. Property prices start at AED 450,000 for a studio apartment and can go up to AED 2.4 million for a four-bedroom apartment.
Browse properties in this community here.
Jumeirah Lakes Towers (JLT)
JLT’s vibrant community comprises 26 clusters, spanning across 68 skyscrapers all circling a large lake and has recently undergone rebranding! The community overlooks the Emirates Golf Course and Sheikh Zayed Road, offering luxury at an affordable price.
Residents have everything they need within a 5-15 minute walk, including over 200 restaurants, retail outlets, supermarkets, convenience stores, nurseries, and even universities. The community also features many office spaces, making it convenient for residents to work close to home.
JLT is easily accessible with two metro stations, the tram, and direct access to Sheikh Zayed Road.
As a popular community, JLT offers gross rental yields of 8.64% year-to-date. Apartments start at around AED 700,000 for a fully furnished studio and can go up to AED 3.1 million for a four-bedroom apartment.
Find homes in this community here.
Al Furjan
Al Furjan is a stunning, mini-city known for being an affordable and convenient community in Dubai. It features high-rises and offers a mix of commercial units, villas, townhouses, and apartments, a little bit of everything you could say!
This community is popular with tenants due to its community centre, metro access, and easy routes to Al Khail Road and Sheikh Mohammed bin Zayed Road. There are also plenty of restaurants, supermarkets, and retail outlets, making it a very convenient place to live.
Investors can benefit from high rental yields, currently at 8.56% year-to-date. Studio apartments start at AED 450,000 and come fully furnished with great amenities, while three-bedroom units range from AED 2.5 million.
Check this community out here.
Business Bay
Business Bay is one of Dubai's top spots, right in the centre of the city. It's packed with commercial headquarters, tall towers, and office buildings.
The community offers both affordable and luxury living options, making it a popular choice for families and young adults who want to be close to the action. You'll find supermarkets, cafes, dog parks, and fitness centres here.
Investors can expect good rental returns of 7.49% this year. Property prices start at AED 750,000 for a studio apartment and can go up to AED 2.7 million for a three-bedroom apartment.
Take a look at our live listings here.
DAMAC Hills
DAMAC Hills is a popular community near Al Qudra Road, offering a peaceful escape from the city's hustle and bustle, often chosen for its tranquil and serene vibes.
Residents can find various property types, including apartments, townhouses, and villas here, making it ideal for all kinds of crowds.
Plus for outdoor enthusiasts, the community has jogging and cycling tracks, fitness studios, and parks. It's easily accessible via Al Khail Road and Sheikh Mohammed bin Zayed Road (E311) and is just a 15-minute drive from Dubai Hills Mall.
Investors can expect gross rental yields of 7.39% this year. Apartments start at AED 450,000 for a large studio with golf course views, while three-bedroom homes average around AED 2 million.
You can check out the different properties in this community here.
Dubai Marina
Dubai Marina is a prime location for those wanting to live in the city's vibrant heart. Investors can enjoy a wide selection of restaurants and retail outlets and the community's biggest draw is its harbour and scenic walking track.
It's perfect for an active lifestyle, with a waterfront route ideal for running, walking, and cycling.
Investors can look forward to gross rental yields of up to 7.17% this year. Property prices start at AED 900,000 for a studio apartment, with two-bedroom apartments averaging around AED 2.2 million, depending on views and amenities.
Browse our properties here.
Jumeirah Beach Residences
Jumeirah Beach Residences (JBR) is a sought-after spot for those who love beachside living. It boasts a range of high-end restaurants and entertainment venues just a short walk away. The community combines hotels, commercial buildings, and residential spaces.
JBR is popular among tenants for its convenience, accessibility, and luxury lifestyle.
For investors, JBR offers a gross rental yield of 7% this year. Prices for properties start at AED 1.1 million, with two-bedroom apartments priced up to AED 3.5 million, particularly those with impressive skyline views.
Find homes in this community here.
For investors looking for their next property, Allsopp & Allsopp’s DataHub provides you with real-time transactions to help make more informed decisions.
To view the article on CW Property, click here. (Page 104).