As property prices have corrected in the UAE in the past few years, the interest in investing in the real estate market has increased. A great number of properties have now become accessible to a larger target audience, resulting in an increase in transaction volumes this year.

Dubai and Abu Dhabi have been ranked amongst the top 10 cities in the world with the highest value locations among the likes of New York, Hong Kong, London, and more. A report published recently by Knight Frank states that prime residential property in Dubai has become very cost-effective as compared to the world’s top real estate markets.

While many new investors are attracted to make their first investments in the UAE, a large number of locals and residents are also causing a stir in buying and selling properties. This hustle is happening because people are seeking an upgrade of their living standards, capitalizing on the current market situation.

So, if you are deciding to invest in the Dubai real estate market, make sure that you choose the best options available in the market. Here are some recommendations of areas to invest in, where property is equivalent to ‘blue chip stocks’ in the real estate market.

1. Downtown Dubai

Downtown Dubai, as the name suggests, is the busiest, most sought after and the most visited location in the country. Downtown Dubai is also known as ‘The Centre of Now’ since it boasts with latest technological as well as economic advancements in the country. Spread across 500 acres of land, Downtown Dubai is famous for its luxury apartments. The value of property in this area is higher than other areas but high demand in the secondary market as well as high yields on rental payments makes it an ideal investment option.

2. Dubai Hills

In collaboration with investment group Meraas, Emaar is launching Dubai Hills Estate, a state-of-the-art extravagant project built around a large golf course in one of the prime locations of the city. With a meticulous evolution in the architectural design of the project, Dubai Hills is a treat to the aesthetic eyes. With such impeccable planning in terms of location and design, Dubai Hills will soon become home to the city’s hustle bustle; attracting many investors towards itself.

3. Dubai Creek

Dubai Creek near the beach has to be the epitome of luxury living with its unique residential experience. From finding the city’s breath-taking views of the tall buildings on one side, to being surrounded by the serenity of the ocean on the other, property in Dubai Creek is one of the most sought after real estate opportunities in the city. From being a central tourist spot to offering a wide variety of residential communities, Dubai Creek has been the talk of the town among old & new investors looking to seek immense gains on investment in the near future.

4. Bluewaters

Located in the heart of Dubai Marina & JBR, Bluewaters by Meraas is situated at a key central location the city. The range of real estate offerings in Bluewaters makes it a unique proposition for investors in terms of variety and choice. The 10-residential buildings boast with the wonderful views the Arabian Gulf, JBR and the Marina skyline. With easy access to daily amenities around the project, Bluewaters is an ideal choice for upscale living.

5. La Mer

An upcoming attraction for investors, properties in La Mer share the magnificent views of the Jumeirah beach on one side and the splendid city skyline on the other. La Mer is Dubai’s first freehold master community which means that non-GCC nationals, foreign investors and non-residents can purchase properties in this area with utmost comfort and ease. The prime location and the business opportunities in La Mer make it a preferred choice for investors for a safe and sustainable, long-term investment.

Top 5 communities to invest in Dubai