Dubai indeed is known to be a millionaires playground and there’s no denying its also a great place for expats who’d choose to invest. Especially with the amount of financing options available, there’s no limit to where one can start!
Now if you’re considering a mortgage and are spreading it out to 25 years, its important to note that LTVs (loan-to-value ratio) are capped at 80% for first-time expat buyers, you’d also need a 25% deposit for your down payment - once that’s clear then you can see a few areas that would fit within the bracket of your monthly salary!
So, if you’ve got the property bug on your mind and are planning to invest but aren’t sure what areas cover your budget - we’ve got you covered.
We’re breaking it all down for you! And yes, we’ll include the numbers too.
Searching for a residence that is a bit newer and has better amenities?
It can’t get better than Al Furjan, where a studio apartment could cost you AED 400,000, a down payment of AED 80,000 and a monthly installment of AED 1,834!
Similarly, you could get a fully furnished studio apartment on the other end of the city in Town Square - which is an up and coming neighborhood by Al Qudra road.
A studio here could cost you AED 350,000 with a down payment of AED 70,000 and monthly installments of AED 1,605.
If you plan on aiming for a larger space, its definitely worth looking into Dubai Silicon Oasis, as they have a great ROI and even better prices. A one-bedroom in DSO could round you up AED 500,000 with a down payment of 100,000 and a monthly installment of AED 2,292!
But for studios, we do recommended taking a look at Motor City for their stunning Spanish-styled apartment complexes that have incredible amenities and are also close to public transportation hubs.
Prices start at AED 490,888 for a studio space in Motor City, with a down payment of AED 98,117.6 and monthly installments of AED 2,251!
You can comfortably invest in a studio in Jumeirah Village Circle (JVC) which is currently ruling as Dubai’s most-sought after community.
Price ranges for studios in JVC start at AED 450,000 on average for a furnished apartment with amenities. For this property you’d need a down payment of AED 90,000 with a monthly installment for 25 years of AED 2,026.
But if you are looking for a newer development on the outskirts of the city, DAMAC Hills is definitely worth considering. With pristine golf course views and brand-new buildings, prices for a studio start at AED 450,000 with a down payment of 90,000 and monthly installments of AED 2,063!
If you’ve got a good ROI on the radar and are looking for an apartment which is spacious, with great amenities - Dubai Sports City is worth keeping on your radar.
A one-bedroom apartment there could round you up AED 600,000 with a down payment of AED 120,000 and a monthly installment of AED 2,751!
Let’s pull the attention back to Jumeirah Village Circle with their exclusive and fancy residences, you could get a furnished apartment, with great views and stunning amenities for AED 650,000 with a down payment of AED 130,000 and a monthly installment of AED 2,980!
If you’re stepping into the 40K bracket - you can even invest up to AED 3,000 on your apartments. Well, for one-bedroom apartments!
And if you’re aiming for something slightly more affordable, take a look at some of the one-bedrooms in JVC that start at AED 530,000 onwards. This comes fully furnished with incredible amenities and easy community access.
A down payment for this apartment would cost you AED 106,000 with a monthly installment of AED 2,430!
Similarly, you could ever explore the Studio City community - home to multiple offices, community centres, and has easy access to major highways and Dubai Hills Mall.
In Studio City, a studio apartment could cost you AED 500,000 with a down payment of AED 100,000 and monthly installments of AED 2,292!
While Dubai Marina is known for its hip and urban community, a one-stop-for-all if you will and a great community overall for individuals, young couples and growing families!
Price ranges for a one-bedroom in Dubai Marina start at AED 720,000 with a down payment of AED 144,000 and a monthly installment of AED 3,301 on average for a one-bedroom apartment facing the Marina.
If you’re making slightly more and have a larger spending bracket on your mortgage, we definitely considering investing in Jumeirah Lake Towers. This vibrant community is home to over 67 towers spread across 26 clusters.
A studio space in JLT could round you AED 700,000 and being metro accessible, with a down payment of AED 140,000 with monthly installments of AED 3,209.
With your payscale aiming for 45k or higher, you can easily invest in mainland areas such as Business Bay, a large studio with incredible amenities, horse-course views and fully furnished.
Thie studio could round you up AED 800,000 with a down payment of AED 160,000 and monthly installments of AED 3,668!
Another great area with fantastic ROI would be Al Barari, and as its located in the midst of nature, its great for those who enjoy living within the great outdoors.
A furnished studio apartment here would cost you AED 860,000 with a down payment of AED 172,000 and monthly installments of AED 3,943.
There are a great selection of one-bedrooms in your budget that are also close to mainland and have incredible strip of amenities!
Starting with Jumeirah Lake Towers, where you could get a fantastic, furnished apartment with excellent views for AED 790,000 with a down payment of AED 158,000 and monthly instalments of AED 3,622!
Or better yet, if you’re looking for great ROI - then don’t miss out on Jumeirah Golf Estates. This upcoming neighbourhood has stunning golf-course views, excellent amenities at bay and is easily accessible.
A one-bedroom apartment in JGE would cost you AED 825,000 with a down payment of AED 165,000 and monthly instalments of AED 3,782!