Here we discuss why you should consider investing in Emaar Beachfront, an upscale waterfront community in Dubai, in 2023. Launched in 2018, has seen significant price appreciation in the last five years. We’ll explore why it’s still a smart investment choice.
Emaar Beachfront’s Price Evolution
its very first project, Sunrise Bay, began at an attractive rate of 2000 Dirhams per square foot. The most recent launch, Bayview by Address, offers branded fully-furnished residences starting at around 4000 Dirhams per square foot and going up to 6000 Dirhams per square foot for premium Palm Views. You might be wondering if Emaar Beachfront has become too expensive. Let’s delve into a comparison to find out.
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A Global Perspective
Dubai is a global city, and to evaluate the value of Emaar Beachfront, we need to compare it with waterfront real estate in other world-class cities. Our benchmark for this comparison is the average price per square foot in Emaar Beachfront, which stands at 5000 Dirhams per square foot or approximately 1361 USD per square foot.
Emaar Beachfront draws inspiration from Miami’s beach lifestyle, making it a suitable starting point for our comparison. Let’s take a look at South Beach in Miami, known for its vibrant atmosphere. While it doesn’t offer a private beach, the average prices in this neighborhood are a whopping 2439 USD per square foot, more than 1000 USD higher than Emaar Beachfront.
Toronto’s Harbourfront area offers premium condos at an average price of 1328 USD per square foot, which is quite similar to Emaar Beachfront. However, it’s essential to consider factors like safety and infrastructure when compared with Dubai.
Nice, French Riviera
Nice, in the French Riviera, offers a beach lifestyle in all seasons. Properties on the famous Promenade des Anglais average around 1321 USD per square foot, similar in price to Emaar Beachfront. However, many of these properties were built decades ago and lack modern amenities.
Istanbul, Turkey, and Mumbai, India
Istanbul and Mumbai offer waterfront properties at lower average prices, 876 USD per square foot and 941 USD per square foot, respectively. But it’s crucial to consider the depreciation of local currencies when evaluating these investments compared to Dubai.
Singapore and Hong Kong
Singapore and Hong Kong are renowned for their expensive real estate markets. The price per square foot in Singapore is 1731 USD, and in Hong Kong, it’s an astonishing range of 2335 USD, and this is literally making them some of the most exclusive real estate markets in the world.
In Sydney, waterfront properties command an average price of 2112 USD per square foot. A study by Knight Frank suggests that Sydney’s waterfront properties have a 120% premium over non-waterfront properties, while Dubai’s waterfront properties have a 40% premium, indicating room for growth.
Global Comparison of Average Price per Sq. Ft.
Now, let’s summarize the average price per square foot in prime waterfront areas of these cities compared to Emaar Beachfront:
|City||Average Price per Sq. Ft. (USD)|
The Dubai Advantage
Dubai pegged to the USD, offers stability, and even compared locally with other premium waterfront properties, Emaar Beachfront proves to be competitively priced. According to Knight Frank’s Wealth Report of 2023, Dubai offers more square meters of prime property for one million USD compared to these global cities.
In future write-ups, we’ll explore local comparisons within Dubai to demonstrate that Emaar Beachfront provides excellent value for premium waterfront properties.