High-quality facilities and stunning views count, says Luxhabitat's Alexander von Sayn-Wittgenstein
Words by Alexander von Sayn-Wittgenstein and Brigitte Tenbergen in Neighbourhoods · Oct 23rd, 2014
Investors considering the buy-to-let market should look towards Dubai Marina," says Luxhabitat's Luxury Sales Director Alexander von Sayn-Wittgenstein. "Tenants are easy to find as it's one of the emirate's most sought-after areas," he explains. Young professionals often turn to the Marina due to its location, with its proximity to Sheikh Zayed Road, and lifestyle facilities, including the beach, a host of restaurants, and great shopping facilities on their doorstep."
Such amenities have been boosted further with the opening of JBR's new beachfront mall. This complex is home to an assortment of cafés, restaurants, shops, manicured lawns and a cinema. "It is this kind of lifestyle - where one can sit outside, go to the beach and indulge in myriad activities - that people want," adds the Sales Director.
Property prices in Dubai Marina tend to depend on the view and architectural quality of the building, reckons Luxhabitat's Luxury Sales Specialist Brigitte Tenbergen, who says that you can expect to pay, or charge your tenants, a minimum annual rent of AED95,000 for a one-bedroom apartment in a favourable development. "Prestigious developments include Trident Grand Residence and those built by Emaar: their original, 6 Towers Marina Promenade and Park Island," comments Tenbergen. "In these desirable properties, a one-bedroom apartment will command well over AED100,000 in rent because of the quality of the building, nearby facilities and the lifestyle on offer."
Arguably the most prestigious dwelling in the whole of the Marina is Le Rêve's penthouse. "It is exceptionally high-end, covering 14,350 square feet, with four bedrooms and seven bathrooms, and offers full Marina views," says Tenbergen. And the price? "The asking price could set you back AED72 million." Tenbergen believes that views definitely impact prices. However, she concludes: "The building has to be good quality, and that is the resounding factor."