Old Town is a neighbourhood located in the heart of Dubai. It is known for its unique architectural elements and vintage look. The area is developed by Emaar Properties, one of the premier developers in the region. The term ‘Old’ refers to the architectural style in which this region was built. The construction of the area was completed.
Properties in Old Town Dubai
Properties in Old Town Dubai are highly sought-after due to their unique architectural elements. There are over 1,500 residential units in 37 buildings spread over 6 districts. The Yansoon district features 11 buildings, Reehan has 8, while Zafran and Miska are clusters of 5 low-rise buildings each. Furthermore, Zanzebeel and Kamoon districts are home to 6 apartment buildings each.
Properties in Old Town Dubai range from a few studios to many spacious 1, 2 and 3-bedroom apartments. Some apartments in Old Dubai do offer views of the dancing Dubai Fountain whilst others are facing the Mohammed Bin Rashid Boulevard. This leads to a price difference in terms of renting and investing in freehold apartments.
If you are looking at property in the area, it would be best to view a few different units before you make your decision.
Rental Trends in Old Town Dubai
The rental trends in Old Town Dubai vary depending on the type of apartment. The average rental price for a studio apartment is AED 61,000 per year, while the average rental price for a one-bedroom apartment is AED 78,000 per year.
Community Overview
Although the residences in Old Town Dubai give off a vintage look, the lifestyle is far from that. It is located in the most happening part of the emirate, Downtown Dubai – aptly named as ‘the centre of now’. As it is a pedestrian-friendly district, the area is in close walking distance of Souk Al Bahar, Dubai Mall, Burj Khalifa and the Dubai Fountain. It also gives easy access to the Mohammed Bin Rashid Boulevard, which is decked with coffee shops, restaurants, hotels and other facilities for those living in the neighbourhood to experience the perks to the fullest.
In conclusion, Old Town Dubai is a unique neighbourhood that offers something for everyone. Whether you are looking for luxury apartments or easy access to other key areas in the city, Old Town Dubai has it all. So if you are planning a trip to Dubai or looking for a new place to live, be sure to add Old Town Dubai to your list of must-visit places.