How much it cost to buy property in Dubai UAE in Euros and dollars in 2023

The thought of owning property in Dubai is increasingly occupying the minds of many people. Real estate here can be used for both permanent residence and leisure, not to mention the potential financial benefits it offers. One of the questions that many people have is: what is the cost of real estate in Dubai? In this article, we will look at how much you can pay for apartments and houses in the Emirates and what kind of return on investment it can bring.

What factors influence the cost of real estate?

Pricing principles in Dubai are a little different from the European real estate market. The cost of apartments, apartments, houses and townhouses, is directly influenced by several factors such as

• Location;
• The stage of construction;
• The status of the proposal - elite, economy class, comfort;
• The area and layout of the object;

The condition of the interior decoration.
An interesting fact that distinguishes the UAE market from the European one is that here the proximity to the centre does not matter much in terms of pricing. Each of the areas is built with the creation of its community centre containing social amenities, recreational infrastructure and shopping galleries.

Nor does the age of the house determine its value. In some cases, properties built ten years ago can be more expensive than those just created. In addition, the price of housing in the UAE depends on the privateness of the residential area: housing in club townships will cost more than in open-type settlements.

How much are the apartments and flats in Dubai?

Looking ahead, we note that giving a definite answer to the question of how much real estate is in Dubai, is almost impossible. It is necessary to take into account a large number of aspects, which we described above. In general, if we take as a basis the status of the residential complex, the picture looks as follows:

The cheapest apartment of the Economy class for 1 m2 - 10 700 AED.

The cost per 1 m2 in Euros - 2654,25 Euros
Cost per 1 m2 in dollars - 2 800 dollars
The average price for apartments of Comfort class per 1 m2 - 23 100 AED

Cost per 1m2 in Euros - 5782,48 Euros
Cost per 1m2 in dollars - 6 100 dollars
The most expensive apartments of Elite class, the price for 1 m2 - 39 600 AED

Cost per 1 m2 in Euros - 9906,06 Euros
Cost per 1 m2 in dollars - 10 450 dollars

In prestigious areas of Dubai, such as Palm Jumeirah, Dubai Marina and others, the cost of apartments will certainly be higher. For example, in the residential complex The Palm Beach Tower the minimum price for an apartment today is 833664 euros. In Serenia Residences from 1356259 euros. However, be aware of the fact that the level of income from investments here will be higher.

Prices for houses, villas and cottages in Dubai

Also, as in the situation with the apartments at https://everhomes.ae/off-plan/villas-for-sale/, the cost of plan villas uae affects a large number of different factors. Prices start from 900,000 dollars (3,303,000 AED) and can reach 50-70 million.

By buying a luxury residence in Dubai, you not only become the owner of an incredible home in a rich country but also acquire a valuable asset, the reasonable use of which could subsequently bring financial gain. You can get income from reselling or renting out your mansion. The resulting profits will not be taxed - a big plus for investors.

The annual maintenance fee that homeowners must pay is for the upkeep of the structure and the surrounding area. That fee is based on factors such as the square footage and occupancy of the villa, with costs ranging from $15 to $59 per square foot. Utility fees are likely to be between $19,000 and $27,000 a year.

What will happen to the market in Dubai: forecasts of experts

Based on the market research conducted, it can be concluded that Dubai's real estate sector is expecting a significant rise in 2023, with a projected increase in residential property values of 46%. Industry experts argue that this surge will be driven mainly by foreign investors seeking to preserve and increase their wealth amid the current instability in global politics and the lack of energy sources around the world.