Major infrastructural projects near Dubai Marina are helping the popular residential area retain its property investment appeal.
- The Dubai tram and Beach Mall are helping property prices in Dubai Marina rise
- Prices have increased by an average of 28% over the past five years and show little sign of slowing
- Property investors can expect yields of between 6% and 8% in Dubai Marina
The recent rollout of infrastructural projects in Dubai Marina is helping the area maintain its impressive property price growth.
New research from Cluttons has found that the wave of new transport, retail and leisure facilities around Dubai Marina and in the surrounding area is further instigating buyer demand and raising prices.
Prices have already increased by an average of 28% to 1,670 AED (£301) per square foot over the past five years.
Lucy Bush, Head of Residential Sales and Leasing at Cluttons, said: “JBR and Dubai Marina have become increasingly popular locations over the past five years, with many residential properties at 100% occupancy.”
Faisal Durrani, Cluttons International Research and Business Development Manager, added the majority of the Dubai property market saw growth stabilise in the latter half of last year, but prices in the well-established areas such as Dubai Marina and Jumeirah Beach Residence, supported by completed infrastructure and community facilities, have continued to hold.
Dubai Marina has always been a popular property investment location due to the unique appeal and the finite amount of space that is available to future buyers. The appeal of waterfront living has led to investor yields in the region of 6% to 8%.
The most recent high-profile additions to the area have been the Dubai tram and The Beach Mall, which offer tenants a convenient mix of wider transport options and retail, dining and entertainment just a few minutes’ walk away.