Dubai is synonymous with luxury. It’s one of the few cities in the world that makes it a mission to out-luxury every other destination, in every aspect. Dubai has become known for super cars, super yachts, and super towers that exceed the height of most mountains. In the city of extreme opulence, boasting the most luxurious homes in the world is no exception. But buying luxury flats for sale in Dubai doesn’t necessarily have to break the bank.
Almost all luxury flats for sale in Dubai have these things in common:
- They have breathtaking views of the Dubai skyline and/or the Arabian Gulf
- They only have high-end imported interior finishes
- They benefit from excessively large floor plans with designated rooms for drivers, maids and other help staff
- They are built in ideal locations within areas surrounded by matching luxury
When it comes to your options when purchasing a luxury flat in Dubai, the sky is the limit; or rather, your account balance is the limit. But there are luxury flats in Dubai that are reasonably priced, relative to average market prices.
Have a look at this 181 million Dirham ($50,000,000) apartment located at the base of the Palm Jumeirah. The penthouse of One by Omniyat is the most expensive apartment in Dubai.
How to Find Affordable Luxury Flats for Sale in Dubai
- Explore off-plan projects
Speak with your real estate consultant to inquire about any opportunities in off-plan. A real estate consultant will be familiar with current and future launches of properties that come directly from the developer. This benefits your wallet in two ways:
- Developers and their representatives will not charge you an agency fee or commission, saving you up to 5% of the total sale price.
- Off plan properties are typically in the pre-construction or construction phases and will be priced well below the market prices of similar completed properties.
- Take advantage of distress sales
You may need to speak with a consultant to locate these properties for you, as they are rarely available on the open market for very long. Some of the benefits of distress sales include:
- Urgency to sell causes the seller to bottom-out the asking price in order to sell as quickly as possible.
- Long drawn-out negotiations are never an issue as the buyer has more control over the transaction proceedings.
- Look into hotel residences
Hotel flats for sale in Dubai, also known as hotel apartments, may not offer the best initial investment cost but they benefit from high occupancy rates, which should allow for a quick and steady return. Luxury hotel apartments can offer some of the highest returns in Dubai. These benefits can be had:
- When residing in the flat, serviced hotels offer a degree of comfort and convenience that cannot be had in other apartments.
- Hotel flats can be extremely beneficial for those who only spend a few months per year in Dubai. The remaining months will see high yields and owners can rest assured that the hotel will fill and manage the property.
Zola Group Real Estate Services are available to local and international clients looking to take advantage of the highly rewarding property market in Dubai and the UAE. You're invited to contact our property consultants via email or phone to learn more about our specific services or to inquire about current real estate opportunities. To view current property listings Click Here.