Cheap studios in Dubai
If you're looking at this page, it's because you're interested in thereal estate investment in Dubai. And you're right! In fact, as you probably already know, prices are at rock bottom, and you need to take advantage of this because it won't last. Demand is currently very high, and availability is actually quite scarce, especially for studios and 2-room apartments (1 separate bedroom), which are the most sought-after properties for rent, and which deliver the best returns.
Buying a studio is therefore a very good idea if you are looking for pure profitability. Prices are relatively accessible, with properties offered in very good neighborhoods for about 100 000€ and a surface of about 40m2. Very reasonable prices when compared to cities like Paris, Lyon or Marseille for example.
Studio & 1 room apartment
Guide to buying a cheap studio or 1-bedroom apartment in Dubai
Investing in real estate in Dubai is a lot simpler than you might think. There's no need to buy a 3 or 4-bedroom apartment. Real estate developers are launching studios and 1-bedroom apartmentson the market , which are particularly economical... But above all, profitable, especially in the case of a rental operation. The teams at Dubai Immo, the leading French real estate agency in Dubai, explain all you need to know on the subject.
Why choose a budget studio or 1-bedroom apartment in Dubai?
More and more, Dubai is attracting investors from all over the world. Indeed, the city is one of the most cosmopolitan and dynamic in the world... And it's attracting. In April 2024, 10,606 properties were sold in the Emirate, 32.5% more than at the same time last year! Apartment sales were the fastest-growing, with the market exploding by 42.1% compared to April 2023, for a total estimated transaction value of 7.7 billion euros.
And there's more to come. Indeed, the financial and real estate crisis is gradually beginning to deflate. Today, it seems, investors are ready to be tempted again, and Dubai is opening its arms to them. There are numerous development projects (Dubai Islands, the new Al Makhtoum airport), suggesting that the momentum is set to continue.
But what to invest in? If you're looking purely for rental property, a studio or 1-bedroom apartment can be very attractive. Firstly, these are the least expensive options. In fact, because of their size, these properties cost less and are therefore much more accessible to buy. Finally, when it comes to renting, they offer the best returns.
Advantages of buying a studio in Dubai
Affordable investment
A studio apartment in Dubai can cost between 120 and 180,000 euros to purchase (sometimes a little more, if you're talking about a perfectly located studio in a luxury residence). Depending on the payment plan, this can be a particularly affordable option, offering you the chance to invest in an exceptional property in the United Arab Emirates relatively quickly. By way of comparison, one- or two-bedroom apartments can fetch between 200 and 400,000 euros, and up to half a million or even a million for the much more spacious 3 or 4-bedroom units.
It's also the option of choice if you're looking to realize substantial capital gains. Studios generally pay for themselves fairly quickly. Coupled with one-off rents and Dubai's dynamic real estate development, you can expect to make a handsome profit after a few years, with handsome capital gains on resale.
Advantages for foreign investors
Buying a studio apartment in Dubai is easy for foreigners too. The Emirate is counting on foreign property investors to boost its real estate sector. Today, policies in this area are relatively attractive. You don't need to provide much to buy your apartment in Dubai, apart from a photocopy of your identity card (or passport), an e-mail address, a postal address and, last but not least, a telephone number.
If you see a property that interests you, simply contact the Dubai Immo team and we'll get back to you as soon as possible. We'll provide you with all the information you need to invest in real estate. Once the documents have been provided and the deposit paid, you'll be the official owner of your studio.
Guide to cheap studios in Dubai
Recommended neighborhoods for affordable shopping
In Dubai, several neighborhoods are more sought-after by real estate investors, notably because they offer the opportunity to acquire affordable, perfectly located (geographically) properties in new residences, with all the necessary comforts (swimming pool, gym, balcony, private cinema room...).
The first district is Jumeirah Village Circle (JVC). From here, you're only twenty minutes from Downtown and ten minutes from Marina. Prices per m² range from around 3 to 4,000 euros. Demand for short- and long-term rentals is very high!
Business Bay is another highly sought-after district (also for short- and long-term rentals). While prices are higher here (between 5 and 10,000 euros per m²), rents are also higher. It's Dubai's hypercentre, with everything close at hand, including the Dubai Mall, just 5 minutes away!
The Dubai Creek Harbour district also attracts many investors, particularly with its very affordable prices per m² of around 5,000 euros. Entirely developed by Emaar, it offers an exceptional living environment, with long seaside promenades, an artificial beach, proximity to the city center (10 minutes) and the forthcoming opening of a large mall.
Finally, the Dubai Immo teams generally recommend the Dubai Marina district. It's a dynamic, touristy area, with very high rental demand. Almost all apartments have a sea view. The problem is that the number of new buildings is low, so you need to be on the lookout if you want to position yourself quickly for a cheap studio.
Property search tip
Are you looking for a cheap studio apartment in Dubai? The best thing to do is to use the services of a specialized real estate agency based directly in Dubai. Such is the case with Dubai Immo, the first French-speaking agency in Dubai. You'll be accompanied by professionals who know and master this rather special market, which differs greatly from what's done in France, for example.
Indeed, many things are different:
- First of all, we need to be able to target high-potential locations,
- You're probably very far away geographically speaking, so you need to be able to visit your property, and for that you need to put your trust in a recognized partner,
- The purchasing process is totally different, with payment plans to respect and little bureaucracy.
- Rental must be carried out by a RERA-certified professional,
- If you need help or advice, a real estate professional will be able to guide you.
Another option is to use websites specifically dedicated to real estate offers in Dubai, although you won't ultimately benefit from the premium support of a real estate agency. In fact, you'll have a lot of things to manage on your own, which can lead to mistakes, procedural flaws and increased stress. We recommend that you put your trust in the Dubai Immo team, who are experts in their field!
Financial aspects of buying a studio apartment
Budget and financing
To buy a studio in Dubai, you have several options available. The first is self-financing. If you have the necessary funds to buy your dream home, all you have to do is follow the payment plans drawn up by the property developer in charge of building and developing the development.
The other option is credit financing. This is becoming increasingly popular in Dubai. You can borrow up to 50% of the total cost of the property from a local bank. Whether self-employed or employed, you must be at least 21 years old, have a good income and borrow for a maximum of 25 years. Please note that loan rates are not fixed, as in France.
Additional costs
When you buy your property in Dubai, you'll have to pay a few extra fees. These include notary fees, also known as DLD (Dubai Land Department) fees, which amount to 4% of the total purchase price of your property. You will also have to add deed registration fees (which vary from AED 2 to AED 4,000), mortgage registration fees (in the case of a close mortgage) and legal documentation fees. Other costs, such as DEWA deposits (water and electricity connection and associated consumption charges) and annual service charges are also to be taken into account. In the case of a rental investment, however, you can list these on the amount of rent your tenants will have to pay each year.
Buying a studio in Dubai
Key steps in the purchasing process
The very first step when buying a studio in Dubai is the research and framing phase. For this, you need a RERA-certified professional! This exchange will give you a more general, but also more precise overview of what's possible in terms of investment. However, try to keep your project somewhat structured, providing information on :
- the nature of your investment: is it rental or residential?
- your budget and the amount of your downpayment,
- your neighborhood preferences in Dubai,
- the type of property you want to position yourself in,
- your time and delivery horizons.
The second stage is the proposal stage. The Dubai Immo teams, all RERA-certified, will send you a selection of properties that may be of interest to you. Brochures, photos, videoconference visits to sample apartments and information on payment terms - you'll have access to all the information you need.
The third step in the process of buying a studio in Dubai is to reserve the property. Here, you'll need to provide a few details, such as a copy of your valid passport, a postal address as well as an email address and telephone number.
After that, you'll have to pay the first instalment of the payment plan, usually between 10% and 20%. Then there are the notary fees. These are 4% in Dubai. They are calculated on the total amount of your studio. So, if your studio costs 150,000 euros, your first payment will be 15,000 euros (10%) + 6,000 euros (4% notary's fees), i.e. 21,000 euros in total.
The next steps are more administrative. You sign the final contract (known as the Sales Purchase Agreement - SPA). You will then receive the title deed (for off-plan purchases only). Called the Oqood, this document enables you to prove ownership of your property. In the case of an "old" purchase, you'll receive the same document, albeit slightly different (in this case entitled Title Deed).
Required documents
To buy a studio in Dubai, you won't need to provide many documents. A photocopy of your valid passport, together with an e-mail address, postal address and telephone number will suffice.
Living in Dubai in a studio apartment
Advantages of living in a studio
Dubai is a dynamic, international city. Investing in real estate there and buying a studio apartment is the assurance of enjoying a city in full fusion, in full effervescence.
Attracting more and more people, thanks to judicious political, economic and security decisions, the city of Dubai has established itself as one of the world's leading players on every level!
In terms of investment and entrepreneurship, the city is one of the most dynamic in the world. It's also one of the safest, with an extremely low crime rate - one of the lowest in the world.
Infrastructure and accessibility
Finally, when it comes to infrastructure, it's hard to beat! Museums, schools, universities, stadiums, public transport (metro and bus, in particular) and world-class airports... You'll find everything you need right here.
Let's not forget to mention the subject of shopping malls. In Dubai, you'll find many malls, such as the Dubai Mall or the Mall of the Emirates, which are among the largest in the world.
You'll have access to all the European and Western brands you love, whether for clothes, sports, culture or household appliances, but also for shopping and buying food.
Advice from real estate experts
Buying a studio in Dubai is a decision you won't regret... as long as you work with a locally-based real estate professional. Buying abroad is a lifelong project, but making a mistake is entirely possible. Working with a real estate agency that masters its subject is the assurance of avoiding the classic pitfalls into which investors can sometimes fall. It also means benefiting from personalized support, centered around your needs and a choice of properties that you might never have had the chance to choose from if you decided to start your search on your own.
Buying a studio in Dubai is within everyone's reach
Buying a budget studio apartment in Dubai is feasible. Prices are relatively affordable compared to 3- or 4-bedroom apartments, with attractive payment plans. What's more, this type of property is very easy to rent, whether for short or long periods, enabling you to quickly generate a return. So it's a great option if you want to invest in rental property, or even make it your primary residence, as part of an expatriate move, for example.
