Upper Key created this guide to highlight the advantages of investing in Downtown Dubai. This incredible area lies in a strategic position in terms of viable investments and offers plenty of wonderful intrigue for anyone renting on a short-term basis. Property management has never been easier than when working with UpperKey, and here are the reasons why this area is one to dive into.
Origin Story
Downtown Dubai was created by Emaar Real Estate Development Company and covers an area just shy of 500 acres. Modernly coined ‘the center of now’, the construction of the many luxury assets and hotspots began back in 2004. Since then, it has grown in both prestige and commodity.
Cultural Highlights
Home to the Burj Khalifa, Dubai Mall, and the Dubai Fountain, this area is arguably one of the more affluent across the entire city. Cultural highlights include the famous Dubai Shopping Festival, New Year celebrations, Burj Park, and Souk al Bahar, one of the biggest luxury markets to have ever existed.
Property Opportunities A Plenty
Reinvigoration is the theme of the day, and Downtown Dubai more than delivers in terms of how it is has reinvented and revolutionized the wider reputation of the city. The property opportunities are buzzing with skyscraper luxury living and apartments everywhere you look. Investors can take advantage of the incredible offerings but they have to move quickly and follow the rules in order to secure a lot or complex.
Leisure, Shopping, and Dining
For property investors searching for reasons to purchase here, there are exceptional features that bring a constant stream of short-term letting demand from travelers to the area. Dubai Opera at the 2000-seated theatre house is just one of the amazing things to uncover, but there are seemingly endless more. The Souk al Bahar market has positively reviewed eateries, and there are dozens more across the stretch to pick from too. It’s hard to not credit the Dubai Mall in full for what it brings to the area as well, considering that it stands as the largest shopping structure in the modern world.
Taking Advantage of Property Management in Downtown Dubai
Upper Key has a strong presence in Dubai and continues to assist property owners in the area. Taking advantage of property management services means peace of mind that your investment will be in reliable hands and boosted to its full potential. Here’s what you need to know.
Guaranteed Rental Income
What better way to maximize profits than to engage with a service that provides a guaranteed level of income for property owners? This assurance grants irreplaceable peace of mind that reaches new heights in terms of appreciation and return rates.
Legal Obligations Taken Care Of
Owning property for short-term rental purposes in Dubai is often complex regarding the legal compliance factors that one must follow. There are risks to ignoring the legal side of the equation, such as fines and removal of ownership. Mitigating these factors in full capacity, Upper Key lends a hand and ensures property owners are never caught out when it comes to the law.
Top-Tier Local Support
Having an expert team on the doorstep that actively participates in local research, hands-on maintenance, and intricate management detail is exceptionally beneficial. Local support is non-negotiable and often overlooked, but it should never be underestimated. Being able to rely on a team that understands not just the ins and outs of Downtown Dubai, but also strives to stay up to date with real-time economic fluctuations and updates that may affect the integrity of your asset is a highly credible reason to work with us.
Tenant Interventions
Without a dedicated property management team on your side, the average owner/landlord would spend every waking working hour deep in the throes of tenant management. This is never an ideal situation for an investment project, and Upper Key acts as an intermediate party that takes care of all aspects of tenant care and communications.
Is It Worth Doing Airbnb in Dubai?
There is enough demand for Airbnb in Dubai that it is a great option in terms of property investment and management.
What Is The Downside Of Doing Airbnb in Dubai?
There are two downsides to talk about when doing Airbnb in Dubai. Firstly, there is a fierce competitive element to navigate which makes acquiring suitable accommodation challenging at times. Secondly, the premium cost of investment is noteworthy and could be a potential barrier to buyers with lower funds. There are currently over 15,000 active Airbnb properties up and running.
How Much Does Airbnb Charge Hosts in Dubai?
For Dubai Airbnb owners, the rates are typically 15% per letting.
Is Downtown Dubai a Good Investment?
Downtown Dubai is a well-built, vibrant area that amply flows with the epitome of the expected Dubai luxury. It is known as a great area to invest in for short-term lets owing to the high rates of popularity and enticing rental prospects. This includes a number of luxury high-rise apartments that are extravagant and on brand for this elegant city. It is also home to the Burj Khalifa, the world's most prestigious skyscraper, which attracts thousands upon thousands of visitors.
What Is The Average Income For Airbnb in Dubai?
In Dubai, the average income for Airbnb in good locations is around $1,150 a stay, which can yield around $420,500 over the course of a full year’s bookings.
Do I Need a License For Airbnb in Dubai?
Any property owner listing a rental on Airbnb in Dubai will require a license. This is easy enough to acquire, but there is a process to follow that must be adhered to, to the very last detail.
Investing in Downtown Dubai is a strong move and Upper Key is here to offer valuable support.
When thinking about viable financial ventures, the property sector more than adds up as it is lucrative in many core areas. Not only this, but Downtown Dubai is highly approachable if you understand how to comply with the legal requirements, another area where UpperKey will assist. This affluent area with incredible cultural highlights and breathtaking attractions, is what makes it such a popular tourist spot and therefore an incredible opportunity for property investors.