Dubai real estate has significantly shifted its patterns into luxury property development prior to the pandemic. Before 2019, the Emirate offered buyers casual real estate projects that could be easily replaced in the UAE real estate market. But now, developers in Dubai have swiftly changed the real estate game by catering for the renewed demand for Luxury Oceanfront Properties in Dubai. Ultra-luxury units that used to be priced at 5$ million per unit are now being sold out at $10 million.
The surge in ultra-luxury oceanfront properties for sale in Dubai has made the market and developers realize the potential behind this real estate category. Massive developers approached developing oceanfront projects in Dubai, bringing out several luxury options, resulting in a compressed supply and greater price hike comparatively to other properties for sale in Dubai.
What makes Ocean Front Properties in Dubai stand out?
Most buyers in the luxury real estate market are end users with significant financial means and a desire for exclusivity, which distinguishes oceanfront projects in Dubai from others. In contrast to other market sectors, more than 95% of purchasers in this category do not rely on mortgages, demonstrating their ability to withstand changes in interest rates. Dubai’s demand for premium real estate is sustainable, as evidenced by its strong holding power.
Photo of rapid developments of oceanfront properties in Dubai
Strategic factors are crucial for investors hoping to enter Dubai real estate investment opportunities. To maximise profits, it is imperative to identify regions where supply is constrained compared to market demand. Over the next three years, the UAE real estate market of oceanfront projects is expected to increase steadily as developers prepare to produce projects specifically designed to fulfil this growing need. Long-term thinkers and persistent investors are in a good position to profit from this trend.
How can investors benefit from Dubai Ocean Front Properties?
Photo of Dubai real estate promoting oceanfront properties for sale in Dubai
Real estate in Dubai has expanded significantly in the second quarter of 2023, establishing new records for transaction volume and sales value. Q2 2023 was the best quarter to date, with over 30,000 property transactions totalling over AED 91 billion. Oceanfront property transactions surged to 20% by bringing in transactions worth 18.2 billion in sales. Compared to the same period in 2022, there were 35% more transactions and a 54% rise in sales value.
During this time, there was an unprecedented demand for oceanfront apartments in Dubai, pushing the median price per square foot to an all-time high of AED 1,336. Prices for off-plan villas also increased significantly, at 32% over Q2 2022. The main drivers of this surge were the desire for oceanfront villa communities and developers’ alluring post-handover payment schemes.
Demand was mostly driven by affordability, especially in developing areas. Regarding ready properties, Dubai Marina was the most popular neighbourhood to buy, but Jumeirah Village Circle dominated off-plan sales. The market for off-plan villas was led by Damac Lagoons, with 642 transactions totaling AED 1.8 billion.
3 most popular oceanfront properties to buy in Dubai
Since, the demand of oceanfront properties in Dubai surpasses investors’ expectations, making buyers more curious to know about this category. To navigate this demand in the right direction, our experts have listed the 3 most popular properties in Dubai that enjoy the beach waves line by providing the most pleasant views to residents.
· Palm Jebel Ali
Photo of Palm Jebel Ali oceanfront properties for sale in Dubai
Palm Jebel Ali, also called a “once-in-a-generation project, ” has finally entered the market as Dubai’s most sought-after oceanfront property. With opulent mansions starting at Dh18 million and large built-up areas of 7,000 to 20,000 square feet, the island entices wealthy investors with unmatched coastal living. The project’s timing is ideal, addressing a significant need in Dubai’s market and rising demand for ultra-luxury real estate. Within a couple of days, the oceanfront villas for sale in Palm Jebel Ali have made a 10% to 15% premium from the launch price, with a solid mar-up attached. Under His Highness Sheikh Mohammed bin Rashid Al Maktoum’s visionary approval, Palm Jebel Ali is a new symbol of exclusivity, richness, and the promise of a distinguished address along the famous Dubai shoreline.
· Waves at Sobha Hartland
Photo of Hartland Waves oceanfront properties for sale in Dubai
Waves, Sobha Realty’s, which was recently completed in 2023, has been the second most popular option among oceanfront property buyers in Dubai. It is located in Mohammed bin Rashid Al Maktoum City, Dubai, and is part of the famed Sobha Hartland complex. The project has 35 residential stories, 592 opulent oceanfront apartments, and 12 retail spaces. Waves boast expansive seaside vistas and top-notch amenities, with prices starting at Dh1 million for a one-bedroom property. The chairman and founder of the Sobha Group, PNC Menon, expressed great excitement in Dubai’s real estate market, pointing to the strong demand from investors and the high calibre reputation of the Sobha brand oceanfront properties. Waves is a significant addition to the Sobha Hartland portfolio, and its distinctive offers and lively waterfront promenade are likely to draw in both local and foreign purchasers, according to Jyotsna Hegde, president of Sobha Realty.
· Emaar Beach front harbour
Photo of Emaar beachfront properties in Dubai
A sought-after island resort in the Arabian Gulf, Emaar Beachfront, offers an oceanfront abode with exclusive beach access. It embodies Miami beach-style living in Dubai with breathtaking views of the Arabian Sea, Palm Jumeirah, Dubai Marina, and the city skyline. This development’s Beach Vista neighborhood offers tastefully decorated residences with first-rate amenities and commercial outlets. After receiving an “overwhelming response” from investors, Emaar Development announced the launch of the first houses in Emaar Beachfront, a restricted island resort in the Arabian Gulf, and recorded sales worth about 1 billion dirhams ($272 million). Emaar Beachfront appeals to discriminating purchasers looking for a calm yet exciting home retreat because of its ideal location, lifestyle options, and easy access to main thoroughfares.
Conclusion
Ssavvy buyers and potential investors find oceanfront properties in Dubai to be a key driver of growth and profitability in the upcoming years. With a robust appreciation ratio and massive price hikes, experts suggest real estate buyers lock this trend and secure their spot in Dubai’s growing real estate market. If you are still planning to buy property in Dubai, it’s high time to jump on the bandwagon and invest in Dubai properties.
