Top 5 locations to find Affordable Properties Under 2 Crore in Dubai

Explore affordable Dubai real estate! Discover the best five locations to find properties under 2 crores INR, perfect for Indian investors.

Dubai, a city renowned for its elegance and grandeur, also provides a selection of reasonably priced real estate for those trying to make wise investments. Prospective buyers can find great possibilities with houses accessible around 2 Crore INR (about 900,000 AED), without sacrificing quality or amenities. This article investigates the top five Dubai areas where you can find affordable apartments to assist you in making an educated decision.

Understanding the Dubai Real Estate Market

First of all, we must understand the features of the Dubai real estate market before we get into the particular locations. Driven by elements like economic stability, solid government policies, and a great infusion of international investment, the city has seen notable expansion lately. Apartments, townhouses, and villas are among the popular property choices that satisfy different budgets and tastes.

Top 5 Affordable Locations

Let’s explore the top 5 affordable locations under 2 Crore INR (900,000 AED) with helpful pricing data from Bayut, a leading property portal in UAE. You can search for cheap properties for sale in Dubai and compare different prospects with helpful insights to make informed decisions.

● International City

For reasonably priced apartment choices in Dubai, International City comes first. According to Bayut's Sales Market Report for H1 2024, this diversified and ethnic neighborhood provides an appealing balance of affordability and prospective benefits. International City's popularity stems from its strategic position, multiple amenities, and cosmopolitan environment. The location is appealing to end consumers as well as investors as its consistent price increase indicates.

Key highlights:

• Average price per square foot: AED 692 (INR 15,838)
• Average transaction price: AED 441,985 (INR 1.01 Crore)
• Return on Investment (ROI): 8.37%

Property options:

• Average studio price: AED 339,000 (INR 77.6 Lacs)
• 1-bedroom apartments: Around AED 503,000 (INR 1.15 Crore)
• 2-bedroom apartments: Approximately AED 853,000 (INR 1.95 Crore)

● Dubai South

Previously known as Dubai World Central, Dubai South is fast becoming a center for reasonably priced accommodation. Its close proximity to Al Maktoum International Airport and the Expo 2020 location points to long-term potential. There are several choices in the neighborhood between townhouses and flats. Dubai South is a great place to invest in Dubai's future because of its strategic position and the constant development going on there.

Key highlights:

• Average price per square foot: AED 917 (INR 20,988)
• Average transaction price: AED 745,732 (INR 1.70 Crore)
• ROI: 8.15%

Property options:

• Average studio price: AED 424,000 (INR 97 Lacs)
• 1-bedroom apartments: Around AED 635,000 (INR 1.45 Crore)

● Dubai Production City (IMPZ)

Originally named as International Media Production Zone, Dubai Production City appeals to individuals looking for a work-life balance as it provides both residential and commercial spaces. For investors seeking rental return especially, this makes it rather appealing. The area's increasing recreational amenities and close access to important roads attract investors as well as end-users.

Key highlights:

• Average price per square foot: AED 952 (INR 21,789)
• Average transaction price: AED 628,078 (INR 1.43 Crore)
• ROI: 8.89%

Property options:

• Average studio price: AED 393,000 (INR 89.95 Lacs)
• 1-bedroom apartments: Around AED 725,000 (INR 1.66 Crore)

● Jumeirah Village Circle (JVC)

Though mostly considered a mid-tier housing location, JVC still provides some reasonably priced choices, particularly for those stretching the budget. JVC's appeal stems from its family-friendly surroundings, central location, and plenty of green areas. For those who can extend their budget, the area's constant price appreciation and strong return on investment make it worth looking at even if certain choices are above the threshold.

Key highlights:

• Average price per square foot: AED 1,167 (INR 26,710)
• Average transaction price: AED 862,900 (INR 1.97 Crore)
• ROI: 8.65%

Property options:

• Average studio price: AED 580,000 (INR 1.32 Crore)
• 1-bedroom apartments: Around AED 881,000 (INR 2 Crore)

● Dubai Silicon Oasis

Dubai Silicon Oasis is a technological park that has developed into a thriving residential neighborhood. Among our chosen locations, Dubai Silicon Oasis stands out with the best ROI. This, along with its strategic position and expanding tech community, makes it a desirable choice for tech professionals seeking reasonably priced accommodation close to their office as well as for investors.

Key highlights:

• Average price per square foot: AED 792 (INR 18,127)
• Average transaction price: AED 564,806 (INR 1.29 Crore)
• ROI: 9.28%

Property options:

• Average studio price: AED 401,000 (INR 91.78 Lacs)
• 1-bedroom apartments: Around AED 600,000 (INR 1.37 Crore)

Disclaimer: This article is intended to provide information only and should not be considered financial advice. Property prices and trends are subject to change depending on market conditions, property size, and other factors. Always consult a real estate professional before deciding.

Conclusion

Prospective buyers have several choices when searching for reasonably priced apartments around 2 Crore INR given the ongoing expansion of the Dubai real estate market. Investors should take into account not only current price patterns but also future developments in these fields that can raise property values gradually. As the market moves with rising demand and new developments coming up, now might just be the ideal moment for exploring these affordable possibilities in one of the world's most vibrant cities.

Frequently Asked Questions

Q1: How stable are property prices in these affordable areas, and what factors might influence future price changes?

A: As indicated by regular price-per-square-foot hikes, prices have exhibited steady growth. Dubai's economy, government policies, infrastructural improvements, and worldwide economic trends might all have future impacts. See regional experts for the most recent market insights.

Q2: Are there any upcoming infrastructure projects or developments near these areas that could impact property values?

A: Many initiatives are in progress. Among them are possible metro expansions for International City, technology park development in Dubai Silicon Oasis, mall completion in JVC, and airport development in Dubai South. These upgrades might improve local appeal and property prices.

Q3: What are the typical down payment requirements and mortgage options available for properties in these affordable locations?

A: Residency status determines the range of down payments usually between 20 and 40%. With interest rates between 2.99 and 4.99%, mortgages last up to 25 years. For houses under AED five million, loan-to-value ratios range from 75 to 80%. For the best terms, compare offers provided by several banks.

(Devdiscourse's journalists were not involved in the production of this article. The facts and opinions appearing in the article do not reflect the views of Devdiscourse and Devdiscourse does not claim any responsibility for the same.)