In Dubai investor are spoilt for choice with a wide variety of locations where they can invest – some apartment towers are to be found in the most central parts of the city, whilst others, further out, enjoy quieter, more rural settings Convenient and with access to building facilities, an apartment can be a great choice for an investment as most buildings have a gymnasium, swimming pool and / or sauna, which are free for residents
Security is good – usually, visitors cannot enter an apartment complex without signing in at the front desk or being accompanied by a resident; also, some security staff are so helpful in a building, they almost double as a concierge!
Most apartment buildings have convenience stores either in the building or within a short walking distance
Utility bills in apartments are generally much less than that of villas; use of air conditioning in villas is the cause of much higher electricity consumption and irrigating a garden requires a lot of water
If you choose to live in your apartment, you’re paying towards owning that property rather than wasting money on rent
Should you wish to rent it out, an apartment in a good location, and priced in line with the market, is typically easy to let out – particularly if it’s ‘mid-range’, since there will always be tenants in the market, either looking for an upgrade or to reduce their rent budget, depending upon the market at the time
Dubai investor
The risks
As with any investment, one must also consider the ’cons’ and not just the ‘pros’. Below are just a few factors to think about before buying:
If you are the owner, maintenance costs can add up over time – whether you’re living in it, renting it out or if it remains vacant
Space is sometimes limited and investing in a large apartment can increase costs
Unless your apartment is soundproof, you might hear your neighbours if they are noisy, or they could hear you, so you need to keep your sound levels low
Upgrades or maintenance usually requires approval from your building’s management first; these enhancements would also need to be carried out within specific hours on certain days
The maintenance and cleaning of common areas is the responsibility of the building’s management – be sure to buy from a reputable developer whose buildings are well-maintained
Any real estate investment has its advantages and disadvantages.
They key to making a sound investment decision is to do your research and buy a property best suited to your needs – and budget.
Dubai investor
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