No matter what type of real estate buyers are looking for, Dubai, the UAE offers a wide selection of options to satisfy the most finicky desires. 2023 is planned to be the year of the launch of new housing projects under construction (off-plan). But developers will keep a close eye on demand patterns and the global economy. Apartments and villas in Palm Jumeirah for foreigners are still at the top of the most popular types of real estate for foreign investments. So, what would be the right decision in choosing between an apartment and a villa in Palm Jumeirah? Let`s find the answer.
Trends on real estate purchase in 2023
Surfing the websites for real estate purchase, a buyer may ask a reasonable question: What are the property trends in Dubai in 2023? The desires and needs are completely different and sometimes impress with their sophistication and uniqueness.
- Homes on islands other than Palm Jumeirah or Jumeirah Bay?
- Homes that allow for a healthy lifestyle?
- House near the beach or lagoon?
- Apartments costing less than AED 2 million with private pools?
This is the modest list of buyers` requests. For this reason, In Dubai, developers cover every possible choice for the buyer. Whether investors or end users, developers are preparing some impressive off-plan projects for everyone in 2023.
Innovations on the real estate market in 2023
The developers represent multiple new housing projects with unique selling proportions. The off-plan property ideas are aimed at a new generation of local and foreign buyers.
Waterfront real estate is still the predominant choice of buyers as they can purchase a housing unit either on the beach or in the areas on land with waterfronts around man-made bodies of water. Properties with such a beneficial location have been actively selling in the last few months because the price range here is quite wide, starting at Dh1.5 million (US$410,000) and more.
Real estate for sale in Palm Jumeirah
Speaking about the current trends, the demand for real estate in Palm Jumeirah stands apart – finished properties are the most popular here. New projects were added last year: Omniyat Properties added two new projects, Orla and AVA, while Alpago continues working on its cluster of super-luxury villas and Palm Flower, which will have only one apartment per floor.
If the current level of demand continues, developers in the new year ahead will be busy launching new off-plan projects and selling off existing homes.
Villa vs apartment on Palm Jumeirah
To make the rational decision on which type of property to invest in, buyers must analyze their needs of the following criteria:
- Property cost
- Spaciousness
- Maintenance
- Interior and style
- Profitability
Property cost
Before choosing which type of property is right for him, the buyer must determine how much money is at his disposal. Budget is the main factor to consider when looking for property in Palm Jumeirah, Dubai. As a rule, local villas are much more expensive than apartments. As a trusted real estate agency, AX CAPITAL provides a vast choice of beneficial housing units at reasonable prices. Contact the specialists to get detailed information and qualified help on any type of real estate.
Spaciousness
Palm Jumeirah offers any type of property for sale. The villas are, in principle, more spacious than the apartments. Unlike the latter, they have an adjacent area, which can have a private garden, swimming pool, playground and private parking. This fact is advantageous for families with children and pets.
When you move into an apartment, you are faced with limited space and privacy, as well as a certain amount of allocated parking spaces.
Maintenance
Additional costs of maintaining a villa or an apartment should also be considered in the process of selection. Owners of a villa have to bear high cleaning costs, since its area is usually much larger than that of apartments. In addition, its grounds are usually accompanied by a backyard and swimming pool, which also require maintenance. Electricity, water and sewage bills from DEWA will also be higher than in apartments, especially during the summer season when it requires a lot of water to maintain the backyard and pool.
Interior and style
Villas are located in the open areas and provide more freedom and unity with nature. The residents will feel secure and calm living in a gated community. Moreover, as a rule, the level of the city noise is lower and less disturbing. Apartments are smaller and do not give the same feeling of privacy and freedom.
The outcomes
The choice of a type of real estate is purely an individual decision. First buyers should identify their needs and establish criteria to meet them. Palm Jumeirah in Dubai provides an abundance of housing options for the most demanding investors.
