Media release - Dubai, UAE (11 April 2017)

Dubai bridging the affordability gulf for international property buyers

With global property markets such as Toronto and Hong Kong enjoying a surge in values, Superbrand Raine & Horne recommends the Persian Gulf city of Dubai as an affordable alternative.

In Hong Kong, the equivalent of almost $A1million will buy a small 2-bedroom, 1-bathroom apartment in the prestigious Mid-Levels district, which is close to the island’s busy central business district.

In comparison, in Dubai $A1 million will buy a luxurious 150 square metre apartment, according to Sanjay Chimnani, Managing Director, Raine & Horne Dubai.

“In Dubai, $AU1 million will buy a full range of properties, starting from luxury 3-bedroom apartments in premium areas such as Palm Jumeirah, Dubai Marina, Downtown, Dubai Harbour Creek and Citywalk,” says Mr Chimnani.

“In the townhouse and villa segment, generous off-the-plan properties in Dubai Hills, Mudon and Jumeirah Park are available in the $1 million price range.”

To illustrate, Raine and Horne Dubai is exclusively marketing a 3-bedroom apartment on a high floor in the stunning Sky View Tower, Dubai Marina[i] for AED 2,760,000 ($A992,000).

“This stunning property has marina and sea views, is next to Skydive Dubai, Le Meridian and Grosvenor House and is in walking distance to beach,” said Mr Chimnani.

“The apartment is available now for owner-occupiers to move into or for investment purposes.”

“Sky View Tower is in one of Dubai’s most established districts. The tower is built around the largest man-made marina in the world and contains several superb restaurants, as well as outdoor recreation and entertainment complexes.”

Despite the affordability of Dubai’s prestige apartment market, properties priced $A650,000 - $A850,000 are proving to be the most popular with buyers, according to Mr Chimnani.

“Smaller 1-2 bedroom apartments in premium locations such as Palm Jumeirah are attracting plenty of buyer attention,” he says.

“Townhouses in the same price range have also enjoyed some good movement. These are in areas such as Nshama and Mudon.”

To find out more about the sales and investment markets in Dubai and Gulf Cooperation Council (GCC) countries, contact Raine & Horne Dubai on +971 4 366 3200.

-ENDS-

For further media information contact:

Sanjay Chimnani, Managing Director, Raine & Horne Dubai on +971 4 366 3200

[i] https://www.raineandhorne.com.au/dubai/properties/sky-view-dubai-marina-dubai-4a53cc46-a19f-4eaf-9e83-8b7fb6f18f8f