REIDIN, the leading real estate information company focusing on emerging markets has looked into buying patterns in three well-known premium projects. Jumeirah Beach Residences (JBR), Shoreline Apartments and The Views were some of the first freehold residential projects launched in Dubai by government sector developers. The communities have been a popular destination for both end-users and investors. A price analysis using transactional data from 2012 reaffirms and/or refutes certain truths that have been prevalent amongst buyers. These factors not only help in the guidance of investors, they also assist in designing subsequent master communities as Dubai looks to build sustainable and all inclusive areas.

Jumeirah Beach Residence (more commonly known as JBR), is a lively waterfront community which comprises of 40 tall towers divided into six clusters, all overlooking the Arabian Gulf. JBR is designed for couples and young families. Offering a year-round beach/resort lifestyle, all of the apartments have showcase sea-views. This development is the largest single-phase residential and commercial project in the world, lined along a pathway known as The Walk, JBR. With beachfront cafés, world-class hotels, nightlife, delightful shopping experiences and an excellent walking environment, JBR remains one of the most sought-after areas in the city. In JBR buildings at the front of the community trade at a premium to the ones at the back. A price analysis of the JBR since 2012 reveals that building in the front trade at a premium of 88 AED sqf to the community average. Whereas buildings at the back are at a discount of 87 AED sqf. The differential in full-sea views and accessibility have shown up systematically in the data for the front facing buildings.

The Views is one of the most sought-after residential developments in Dubai. It is an exclusive apartment community with lakeside apartments that open to the stunning green vistas of Emirates Golf Club. A fully established community, it is near business nerve centres, leisure attractions, retail centres and educational institutions, and offers easy access to Dubai Marina, Dubai Internet City, Dubai Media City, and Knowledge Village. The American University in Dubai is in close proximity to the neighbourhood. The Views is a preferred destination for professionals, who benefit from its location and retreat-like ambience. The Views buildings completed before 2007 are similar to old greens, whereas as post 2007 completed buildings were more upscale. A price analysis of the Views since 2012 reveals that buildings completed post 2007 trade at a premium of 121 AED sqf to the community average. Whereas buildings completed pre-2007 are at a discount of 146 psf. This differential appears to be directly correlated to the age of the building, although other factors such as golf course views, proximity to the school, and noise pollution also seems to be at play.

The Shoreline Apartments are part of the world's largest man-made islands, The Palm Islands. Located on the right-hand side of the “trunk” of The Palm, the Shoreline Apartments include 20 luxury apartment buildings, each 10 to 12 stories tall, comprising 2,500 apartments and 80 two-story penthouses. REIDEN reports that buildings on the sea-side are more expensive because of the view and accessibility to the beach and amenities. An in depth analysis reaffirms that road side buildings trade a discount of 186 AED sqf to the community average, whereas units on the sea-side trade at a premium of 207 AED sqf.

For futher information, see the full REIDIN report.

See also:

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