An Expat Frenchman Tries Shopping in Now
After six years in the most populated city in the United Arab Emirates, a public relations expert made the decision to settle down and make long-term investments. It is what she discovered.
- Six years ago, Clementine Martini came to Dubai on a new work assignment and was thrilled to discover that the capital of the United Arab Emirates was more than just a factory city of glass and steel skyscrapers.
- Rather, she claimed to have discovered a natural wonder as well as a bustling, safe, and international social scene.
- Ms. Martini, 44, asserted, “Nature is everywhere, contrary to what most people think.
- ” “Dubai offers the ideal lifestyle of being near the beach and the desert while residing in a major international business center.”
- Ms. Martini was born and reared close to the French coastal city of Marseille.
- She spent ten years working in public relations in Belgium before moving to Qatar for a brief period of time. As the city flourished around her, she lived in rentals when she arrived in Dubai in 2018 to take up her position as senior manager for global campaigns at the Dubai Tourism Board.
- She thought about buying real estate in France or Belgium last year as a means of generating more income, but the returns wouldn’t have been worth it given the rising costs of housing and inflation throughout Europe.
- Meanwhile, a surge of international purchasers was driving Dubai’s own boom: In September 2022 and September 2023, home prices increased by 19%, as per a market assessment by Knight Frank, a real estate firm.
- As Ms. Martini’s monthly rent of approximately 15,000 dirhams ($4,000) was due to rise, she became more at peace with the thought of putting her money into the Gulf.
- The cost per square meter is actually half that of real estate in Paris, she added, plus you get access to parking, a gym, and a swimming pool.
Ms. Martini approached Clement Auden, a broker at BlackRock Real Estate, with a budget of about 3 million United Arab Emirates dirhams ($815,000), ideally for a two-bedroom apartment in one of Dubai’s more upscale condo buildings.
At the present, he described Dubai as a seller’s market, saying, “It’s been like that for the past three years.” Tenants are buying instead of renting since rent is so exorbitant right now.
Ms. Martini then narrowed her search to a few older structures that she knew had larger floor layouts than some of the more recent constructions.
She wanted a big quantity of wall space for her art collection in addition to extra space for guests, even though many homes in Dubai have large windows.
Although most home purchases in Dubai are cash transactions, according to Mr. Auden, he has noticed a recent increase in the number of buyers taking out mortgages with the typical 20% down payment—which was Ms. Martini’s original idea.
In the Arts District, two bedrooms
This spacious, well-lit 1,700-square-foot apartment with two bedrooms and three bathrooms was located in the Opera District, a busy cultural hotspot in the heart of Dubai, in the 71-story Opera Grand skyscraper.
The living room’s balcony and floor-to-ceiling windows provided views of the man-made lake and the 160-story Burg Khalifa building.
There was a pass-through in the little kitchen, and some floor space was occupied by large pillars.
Among its many features were two swimming pools, a gym, and a meeting room. The cost, at 4.25 million dirhams ($1.15 million), exceeded her budget.
A single room in the Financial District
This apartment, which had one bedroom and two bathrooms, was located in Dubai’s busy International Financial Center in the 65-story Burg Daman tower.
With glass walls throughout, a built-in closet, and a lengthy balcony with breathtaking views that was accessible from both the living room and bedroom, it was approximately 1,300 square feet in size.
The development had two pools, a gym, and a squash court in addition to the five-star Waldorf Astoria hotel.
At 2.5 million dirhams ($680,000), the price was well within Ms. Martini’s budget, and considering its location in the “Wall Street of Dubai,” she believed it would be a wise investment.
Downtown Dubai: A Two-Bedroom Apartment
This 16-story DT1 tower in downtown Dubai, close to commercial and cultural hubs, housed this corner apartment with two bedrooms and three bathrooms.
With an open kitchen and island, two en suite bathrooms, an additional bathroom, a balcony that overlooked the street that surrounded the downtown area, and plenty of wall space for hanging artwork, the apartment was approximately 1,500 square feet in size.
The facility had two swimming pools, a gym, a private parking area, and a public art gallery. The cost amounted to 3.425 million dirhams, or $932,000.
READ MORE:
1. Health and Fitness Tips for You
2. Upcoming New Movies
3. Get New Jobs Directly From Companies FREE Visa
4.Latest News of Cryptocurrency and Bitcoin
5. Real Estate Business for you
6. Latest News
7. Best Insurance Policy for Everyone
READ MORE:
- 1. Strategic Management Process: Top5 Jobs In Dubai FREE VISA Apply Now
- 2. Vancouver Time fighting for $12,000 in travel insurance Nightmare FREE
- 3. DIABETIC DIET : A PROFESSIONAL’S GUIDE TO A WARM AND WELL-BEING
- 4. NICOLAS CAGE STATES : HE HAS 3 OR 4 MORE MOVIES LEFT NOW
- 5. EMPRESS CRACKS: FOR THE FIRST TIME SINCE APRIL
- 6. DESPITE MEANING: DESPITE HIGH RATES, MORE US HOME BUYERS ARE WILLING TO BUY
7. A 44-YEAR-OLD BOSTON WOMAN WAS KILLED BY A SHARK ATTACK IN THE BAHAMAS WHILE ON VACATION
