To buy or to delay? Why is it time to invest in Jumeirah Village Circle real estate now?
Jumeirah Village Circle: A sneak peek into Dubai’s enchanting community
Jumeirah Village Circle is one of the most prestigious areas in Dubai. It is on the west coast of the city. It attracts the attention of property buyers due to its location near major tourist attractions such as Burj Khalifa, Dubai Mall, and Dubai Fountains. In addition, Jumeirah Village Circle is full of restaurants, cafes, and shops. Property in Jumeirah Village Circle is an excellent option for those looking for affordable yet luxurious living spaces in Dubai.
A glimpse into the problem: A brief overview
Due to the global COVID-19 pandemic, property prices in Dubai fell by 11.5% in 2020 compared to the previous year. However, starting in the first quarter of 2021, real estate prices began to increase. It created additional demand for properties in the Jumeirah Village Circle. In recent years, new buildings have been built in the area. It also attracts buyers. Due to misperceptions of the risks and high costs, some buyers put off buying real estate.
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Expanding horizons: The infrastructure development of the area
The Jumeirah Village Circle continues to see active construction of existing buildings and infrastructure development. For example, at the end of 2021, the metro station “Jumeirah Village” opened. In addition, plans for the coming years include new schools and kindergartens. It will further increase the attractiveness for residents. B. Decline in property prices: In 2020, property prices in Dubai decreased by 11.5%. However, property prices began to increase in the first quarter of 2021. However, prices are currently not at pre-pandemic levels, and this could create opportunities to buy property in the Jumeirah Village Circle at better prices than in the past.
Rising tides: The future of real estate value appreciation
Property prices in Dubai are predicted to continue rising in the coming years, especially once the city is ready to host World Expo 2020. It has been postponed to 2021 due to the COVID-19 pandemic. Real estate in Jumeirah Village Circle will increase in value as a result. In addition, given the expansion of the area’s infrastructure and its attractiveness to residents, real estate prices may increase further.
Seizing the opportunity: Prospects for rental yield
In addition to the potential for real estate appreciation, owning property in Jumeirah Village Circle can lead to high rental yields. The average vacancy rate for a studio in the area in 2021 was around AED 45,000 per year, and for a one-bedroom apartment was around AED 65,000 per year. It is also worth noting that with the growing attractiveness of the area and the expansion of infrastructure, the demand for residential properties in Jumeirah Village Circle may increase. It may contribute to an increase in rental yields.
Conveniently located: The benefits of strategic positioning
The Jumeirah Village Circle area is in the city centre, making it convenient for living and working. There are large shopping centres, restaurants, and cafes. In addition, the area is close to the main roads. It provides quick access to other areas of Dubai.
There are many establishments in Jumeirah Village Circle as of early 2023. These are:
- Cafe Rider Custom Motorcycles & Cafe.
- Larte Dubai.
- La Brioche.
- Sinyora Cafe.
- Shakespeare and Co.
- Art House Cafe.
- The Sum of Us.
- Wild & The Moon.
- Molecule Restaurant.
- La Tablita.
- Couqley French Bistro & Bar.
- The Yellow Chilli by Sanjeev Kapoor.
Paving the way: The government’s policy and its impact
The Dubai government has an active property support policy. It can be an added advantage for buyers. For example, in 2020, the government announced a reduction in real estate sales tax from 4% to 2%, as well as various incentives and financial programmes for property buyers.
Riding the wave: Anticipating future demand for real estate
Dubai’s real estate market is growing. In addition, the favourable economic situation in the city and its high level of development will also contribute to the growth in demand for real estate in Dubai.
Supply squeeze: The impending shortage of real estate inventory
Due to the rising demand for property in Dubai, there will not be enough vacant properties in the coming years to meet the demand. According to the data for 2023, the current occupancy of properties in Dubai is over 90%, indicating high market congestion.
Overall, buying property in Jumeirah Village Circle can be a worthwhile investment due to the expansion of the area’s infrastructure. The property value will increase in the future as a result. Visit the website for the latest real estate prices in Jumeirah Village Circle. In addition, at the moment, real estate prices have not yet reached pre-pandemic levels. Take advantage of the opportunity to purchase real estate at competitive prices.
It’s time to take a decisive step. There are two categories of society now: those who act and those who wait. Don’t let your opportunities slip through your fingers. Be the first to join and feel the power of confidence when you own a property in the heart of beautiful Dubai.