Importance of Location in Real Estate
An interesting concept why location is the most important parameter when it comes to real estate.
Time and again people talk about the importance of location of a house, shop or an office, and very rightly so, the impact is significant no matter wherever you consider it throughout the globe. Although there are various classifications under which the locations can be categorized, however in order to simplify the understanding of Dubai, we usually categorize the location based on 4 different groups which are namely: Central, Urban, Sub-urban and Outskirts. Generally, as expected the price of construction of a property is relatively similar in any category of the location, which depends mainly on the quality of the material used and its logistics. Therefore, the factor that largely contributes towards the price of any property is its location which varies based on the category it lies upon.
Central locations in Dubai are not necessarily Downtown sort of communities, but it corresponds to the region from where within the radius of a certain mile or 15 minutes driving distance, most of the important locations can be accessed seamlessly. Therefore, communities like Downtown Dubai, Jumeirah, Business Bay, Dubai Marina, Diera, Dubai Creek, Bur Dubai and Mina Rashid for that matter are all centrally located. These locations are the most sought after, and because of this high demand, the prices of the properties in Central Locations are the highest.
The Urban communities are the ones that are more modern, they would be in the central location as well, but more importantly they provide a variety of facilities that a modern lifestyle seeks. This would include educational, healthcare facilities, public transport and infrastructure. The prices of urban communities are relatively on the higher side as they offer convenience to it residents.
Sub-urban communities are developed master communities that offer the best of both worlds which includes the calmness away from the city, and easy accessibility to the city within minutes’ drive. These communities like Dubai Hills Estate, Town Square Dubai, Serena, Arabian Ranches, Villanova and so and so forth offer great value as the prices are relatively lower than the city, yet providing all the benefits of the modern lifestyle at one place. These communities are usually defined for families and are built around self-sufficient lifestyle model.
The Outskirts are the location where people generally seek a property because of its lowest prices. Amenities and infrastructure are not abruptly available in this location, and may be under planning stage, however when it comes to returns, these kinds of location offer the highest value as with the increasing demographics eventually outskirts location become sub-urban in Dubai. Some common examples of these outskirts are in Hatta, Jebel Ali Hills, Dubai Industrial City, Jebel Ali Waterfront and so on.
To learn more about why locations are important in properties, please feel free to get in touch with Homes 4 Life.
