Buying a studio in Dubai: how to choose?
Many French people prefer the studio for their first real estate investment in Dubai. With quality offers around 100.000€ and often advantageous financing plans, it is true that the studio has many assets. Dubai Immo, a French real estate agency based in Dubai, explains in this article what tips to use to sniff out the right deal and also presents you with the rooms to avoid.
Why buy a studio in Dubai?
Along with one-bedroom apartments, studios are the most sought-after properties for renters. Buying a well-located studio apartment is a guarantee of easy renting and very attractive rates of return. Studios also require little maintenance and are often occupied by a single person, so less damage is expected. In addition, condominium charges are low on studios due to their surface area (35m2 on average), so there is no disaster if there is a little vacancy between two tenants. The studio is therefore an excellent entry point if you are looking to make your first real estate investment in Dubai without taking too much risk.
How to choose a studio in Dubai?
If the purchase of this studio represents for you a rental investment, it will be necessary to concentrate on locations where the demand is strong. When you buy a studio apartment, there is no need to find your way around the Burj Khalifa or the Dubai Mall. Your future tenant, whose means will inevitably be limited, will not spend his afternoons at Gucci or Dior. It is necessary to find out the activity and employment areas of the people likely to rent a studio in Dubai. Finally, it is important to choose studios of at least 35m2 to be competitive. A studio with a balcony is always preferable. Also choose programs where the difference in purchase price between a studio and a one-bedroom apartment is high. This way, the rent you charge for your studio will be competitive with the one-bedroom apartments in the same residence.
Buying a furnished or unfurnished studio?
Everything will depend on the market conditions at the time you make your investment. Some developers sell the apartments fully furnished and equipped. Others just sell them with appliances, depending on the situation. In any case, we recommend that you rent your studio apartment in Dubai already furnished. This will open up more rental opportunities for you, especially for short or long term rentals. If a good offer comes up on a well-furnished and well-equipped studio, you should take it. Finally, don't forget that furnishing a studio will only cost you between 1500 and 3000€ to put it to your taste and with quality elements superior to those generally provided by the developers. We can help you with the furnishing.
Which neighborhood for my studio in Dubai?
Three areas seem particularly interesting for buying a studio in Dubai: Business Bay, Jumeirah Village Circle and Al Furjan. Business Bay for its proximity to Downtown and the metro. Many companies are located there and it is an important employment area. Jumeirah Village Circle (JVC) for its affordable prices and high rental demand. JVC is also very well located to get to Downtown or Marina by road. Al Furjan for all the upcoming developments in this area, such as the new airport, the Jebel Ali Palm, the Jebel Ali business park and the Expo 2020 site.
Buy a studio in Dubai with payment plan
Financing often plays a very important role in the choice of a rental investment in a studio. If your means are relatively limited, we recommend that you opt for a long payment plan, between 5 and 12 years. We have solutions to offer you and quality programs at prices around 100.000€. The rates on financing negotiated by Dubai Immo with the developers are 0%, in line with the religious conditions of many clients. The developers do not ask for any proof to grant a financing plan, just the payment of the first installment which is usually around 10%.
Buying a studio in Dubai: what are the pitfalls to avoid?
The first trap often set by unscrupulous agencies is the location. You must avoid at all costs locations that are too far away, such as Dubailand. Connectivity must be excellent and rental demand must be high. Also beware of offers that are too attractive, with studios at 60,000. Always relate the price to the real surface of the apartment, if you buy u price in tower of 2000€ of the m2, it is that there is certainly a problem. If you see offers that seem interesting on programs that we do not offer on our site, do not hesitate to call us. We will tell you what it is, in all honesty and objectivity.
