Dubai Marina values soar

Residential property in Dubai Marina now costs up to Dh1,670 per square footImage Credit: Cluttons

A new wave of transport, retail and leisure facilities in Dubai Marina is driving demand in the area, where prices have risen by 28 per cent to Dh1,670 per square foot since 2010, reports real estate consultancy Cluttons. With the Dubai Tram now fully operational and The Beach Mall offering a convenient mix of retail, dining and entertainment, residential units at Jumeirah Beach Residence (JBR) are proving popular for both residents in search of a home and international buyers seeking turnkey investments.

“JBR and Dubai Marina have become increasingly popular over the past  five years, with many residential properties at 100 per cent occupancy,” said Lucy Bush, Head of Residential Sales and Leasing at Cluttons.

According to the real estate consultancy, the additions to the waterfront location will continue to drive the value of real estate in JBR, with residential developments such as Shams 1 popular with investors.

Across the emirate, average residential values stand at Dh1,493 per square foot, considerably lower than premium locations within the Dubai Marina area.

Laarn more about Dubai Marina.

Source: Property Weekly


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