Landlords eyeing apartments for sale in Downtown Dubai should consider the area’s demographic attractions. At least three factors will determine who rents these apartments: rent prices, apartment amenities, and neighborhood attractions.
First, rent prices will determine who your tenants are. Dubai is in the United Arab Emirates (UAE), which uses the dirham (AED) for currency. There are two main groups of tenants that you will attract expatriates and Emiratis. Emiratis are citizens of the United Arab Emirates and will most likely use the dirham as their native currency. This difference from expatriates, who will convert their native currency – usually, the US dollar, Pound Sterling, or Euro – into dirham. Since there is a favorable exchange rate and the native currency of expatriates will perform better, expatriates are even wealthier than Emiratis will be on average.
Second, after prospective tenants have found apartments to rent, they will need to weigh the positives and negatives of the remaining apartments. The first thing they will look at are the amenities offered. These can mean Tenants prioritize amenities like jacuzzis, building services and access to facilities such as steam rooms, saunas, and movie theaters within residential towers.
Finally, attractions in the neighborhood are the last thing that tenants will look at. If they have families, tenants will want to know about the schools and daycare in the area. Those who want to play sports will look at gyms, sports courts, and more. There are also unique features that an area will have. This includes the attractions in the neighborhood, the style of living in the neighborhood, and any historical features.
If you are a landlord, read on to see the most likely tenants to lease purchased apartments for sale in Downtown Dubai.
Wealthy
The first point that you can look at as a landlord is the rent prices in the area. With rent prices in the seven figures, even for a one-bedroom apartment, you can be sure that your tenants will be wealthy. For a one-bedroom apartment, the lowest rent is over AED 1,000,000 in annual rent; meanwhile, the highest rent for a four-bedroom apartment is over AED 8,000,000 in annual rent. If split evenly, then each room would pay over AED 2,000,000 in annual rent.
Social
With luxuries access to a such as access to a mini-theatre and a game room, your wealthy tenants will enjoy socializing with other wealthy tenants as they stay in Downtown Dubai. With a spa, steam room, sauna in the tower, as well as access to 24/7 room service, your wealthy tenants would also like to relax and pamper themselves on their downtime.
Extraverted
Finally, a landlord can project that tenants will likely be extraverted instead of introverted. This is different from social in the sense that tenants will draw energy from socializing with others. Restaurants and retail outlets are the key features that can be used to project this; however, other features, such as a shared swimming pool, also add to this projection.
Conclusion
By looking at the various features in Downtown Dubai as well as the amenities in residential towers, three things can be reasonably assumed about the tenants who will live in your purchased apartments for sale in Downtown Dubai. First, tenants will likely be wealthy, owing to the high rent prices. Then, residents will be social, owing to a mini-theatre and a game room. Finally, residents will be extraverted, owing to the restaurants and retail outlets.
If wealthy, social, and extraverted tenants are people you can get along with, you should invest in apartments for sale in Downtown Dubai today!