TOP 5 AREAS WHERE YOU CAN FIND THE CHEAPEST PROPERTY IN DUBAI

Having a house or apartment is considered a vital element of luxury; it's a sign of success and development in one's career and growth. People require properties for multiple reasons: personal use, avoiding rental charges, tax evasion, or having a good investment of savings.

Nowadays, many people around the world are looking to buy property in Dubai due to the attractive opportunities available in the region and their affluent lifestyle.

Dubai is a brilliant place to invest in buying a property. It has a vast range of activities for children and adults. They also have a modern infrastructure, good sewage, and drainage systems, and a well-established sector of tourism that always brings in new ventures.

However, buying property is majorly linked to the client's budget, vision, preferences of property prices, area, schools, and other facilities in the area. To find an ideal location, there must be an in-depth analysis of the trends in the property prices, markets, and the best possible options.

Dubai has many luxurious neighborhoods that are bought by rich individuals. However, there is an influx of people opting to buy the cheapest property in Dubai due to its cost-effective nature.

This article will help you find out the top 5 areas in Dubai where you can find the cheapest property and find an ideal house to invest your money.

Dubai Property Prices In 2022

The first step before you move onto your research to find the locality where you can find the cheapest area to buy a property in Dubai is to understand the market trends of properties in 2022. Multiple types of research suggest that this new year will bring various new opportunities for residents, buyers, and investors in the real estate market.

After a long journey from escaping the negative impact of the coronavirus pandemic, Dubai is now elevating its GDP and continuing to grow the economy again at a faster pace. Dubai property prices are expected to rise by 5-10% during the year 2022.

This will be a record-breaking change that will impact everything in the real estate market including the demand for more residential units. It's also forecasted that overseas investors will show a continued interest in investment properties because of profitable results, tax advantages, and more houses to build a future in Dubai.

Residential sales and leasing are also expected to increase in number. In the short term, the real estate market will have differentiating rates that have grown rapidly during the Expo period.

There is also a prediction that people will be ready to pay a larger amount of money for quality homes, and regular renters will try to purchase more houses because of the sudden hike in rental rates in 2021. Therefore, it is highly important to know about the latest insights of Dubai property prices. Moving onto the cheapest property in Dubai here are the 5 best areas where you can buy a home for yourself.

1) Dubai Sports City

Dubai Sports City is an expansive multi-venue sports complex taking up to 50 million square feet of area. It looks like a miniature version of Dubai and consists of various properties such as residential, retail shops, leisure, and multiple exciting recreational facilities.

The area has a lot of intriguing tourist spots and fun activities for children and adults to appreciate. The city centers around five big sports venues and is surrounded by a variety of sports institutes.

It's the hub for all sports lovers and home to many people who adore their residential areas that are enclosed around major fun platforms. It's also located on Mohammad Bin Zayed Road has good road connectivity with other parts in Dubai.

The sports complex has three distinct residential areas that consist of apartments, townhouses, buildings, and villas. The areas where you can find cheap properties to buy property in Dubai sports city are Canal Residence, Victory Heights, and Gallery Villas.Since it is a developing locality you can find find cheap living when you are looking for property to buy in Dubai

2) Dubai International City

Dubai International City is a pioneer of affordable property to buy in Dubai. It's a leading preference for many investors who are opting to look for the cheapest property in Dubai but quality infrastructure and facilities.

Their community is regarded as the most growing residential unit in Dubai due to their variety of options of properties.

The city covers over 8 million square meters of land and the layout of the city is enlightened by the conventional carpets designs of the Middle East. The project is currently under construction but will include studio and one-bedroom flats and acclimate around 60,000 residents.

Dubai International City is situated in the Al Warsan region, which is opposing the Dubai Central Vegetable and Fruit Market. The residential unit plan is also designed according to various cultures and countries and their architectures such as China, France, England, and Spain districts.

3) Deira

Deira is an area in the city adjoined by the Persian Gulf, Sharjah, and Dubai Creek. It was known as the commercial hub of Dubai once, but over the years has lost its touch and value.

The construction of the Sheikh Zayed Road at E11 changed Deira's future by shifting all commercial activities to other areas that gained more development around the coastal region. Currently, Port Saeed remains a strong factor of value in the area, as it carries some of the dhow cruises and sustains small shipping boats in Dubai.

Deira is still a developed area with underground metro tracks, multiple shopping malls such as the City Centre Deira Shopping Mall, and Nesto Hypermarket Burj Nahar Mall. There are also many contemporary buildings and towers under construction, the area also is located near the Dubai Airport. Living in Deira is cheap and is an ideal place for investors looking for cheap properties in Dubai.

4) Discovery Gardens

Discovery Gardens is a perfect residential area for families due to its comfortable environment and friendly clusters of gardens from various communities such as Mogul, Contemporary and Mesoamerican.

Discovery Gardens is a stunning location that ranges 26 million square feet and consists of a vast residential community. Their infrastructure reflects the garden created in the center of New Dubai.

Discovery Gardens is gaining a reputation in the real estate market as a prominent choice for investors seeking cheap properties for sale by owners. The area currently has 291 buildings, above 26,000 studios, and 1 and 2 bedroom apartments. They also have 200 retail shops that are set to grow due to further developments.

5) Jumeirah Village

Jumeirah Village's construction was initiated in 2014 and ended in 2019 as an established as an attractive option for people looking for vacation spots, hotel properties, and residential investors who are looking for short-term renters or to provide tourists guest houses.

The village is located in Dubai and features facilities such as a luxurious restaurant, complimentary private parking, outdoor swimming pools, and a fitness gym. Many 5 star hotels provide amazing deals and free WIFI and also access to beach parties and DJ events creating a whole social life of tourists and people looking to have fun.

To sum up:

While looking for the cheapest properties it is important to consult experts working in the real estate market of Dubai to avoid any mishaps. Inspire Real-estate Dubai is one such leading company operating in the property market of Dubai which can help you from the very beginning to help you find a perfect property according to your needs that suits your pocket.