Property in Ras Al Khaimah - Oceana Apartments
An Excellent Investment Property in Dubai
Hi, Sunil here with an excellent investment property in Dubai
I am writing this discussion as of 2008 and will continue to update it with any changes and developments in the Dubai real estate market. (Update: 2012)
This discussion will be focused mainly on the residential complex of Oceana Apartments in Al Hamra village within the Ras Al Khaimah.
This investment property in Dubai has already returned good value for its investor in the past year alone.
The area continues to attract investors with steadily growing property values. This area has a beach just 200 meters away from the residences and thereby provides excellent views from the units.
The residential complex of Oceana Apartments is not like most sky scrapers in Dubai. This area provides a cozy and home-like feeling as the buildings are only 7 stories high. The builders really catered to a niche homebuyer population with this project. The units are all designed in old Arabian styles giving it the authentic look and feel.
I am usually a skeptic when it comes to Dubai property investments. I seriously think there is a big bubble about to burst. However, areas like the Ras Al Khaimah are still pretty good as value investments and I would definitely consider investing in the Oceana Apartments.
The furnished studios and the 1-2 bedrooms are best investment options here. These properties are simpler than your standard Dubai property and are much more affordable for middle class families to live in or wanting an investment property in Dubai.
The Al Hamra village in Ras Al Khaimah is projected to increase in value significantly in the next few years. This area is only 45 minutes away from Dubai City and many smaller families are migrating to this area to get away from the hustle and bustle of the busy city.
Pricing & Financing Options
The prices of studio apartments are around Dhs. 37,000 or about $10,000. That is dirt cheap. The same unit will cost you close to a million in the main areas of Dubai. A one-bedroom apartment here costs around Dhs. 85,000 or $23,000 and a two-bedroom apartment will cost you around Dhs. 110,000 or $60,000.
I am sure these prices will change very soon as this investment property in Dubai is in very high demand. It is only a matter of time before it becomes widely known and people start flocking here to invest. Homes in this area are being sold for approximately $170,000 and have already seen significant appreciation since 2007.
You cant loose with this Dubai property investment. How can you when the rulers of Dubai are invested in it themselves? Yes, that is right. A good real estate broker in Dubai should be able to get you the best deals.
A lot of good brokers negotiate fees with the builders and therefore you dont have to pay them anything when they help you buy a property in Dubai. These properties are ideal for both he big and small real estate investor as well as a family living in Dubai.
The two biggest banks that mainly finance properties in this area are HSBC and Lloyds TBS. Spend a good amount of time reading about them online and fill out a question form if you are interested in this investment opportunity in Dubai.
The residential complex of Oceana Apartments in Al Hamra come with the following standard amenities:
I highly recommend looking into the Oceana Apartments as one of your options when considering a property investment in Dubai or if you are simply looking for high quality living at affordable prices.
However, before you invest I highly recommend reading the Dubai Secrets guide to investing in Dubai. This is a practical resource compiled by other experienced real estate investors in Dubai and does a very good job of guiding someone new to investing in the region.
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