Comparison of Real Estate Types Available for $1 Million in Dubai and Los Angeles
In the real estate world, $1 million opens doors to a variety of housing types. However, choices can vary significantly from city to city, depending on factors such as location, developers, amenities, and others.
Dubai: Luxury and Investment Opportunities
Dubai continues to attract real estate investors, appealing to millionaires and billionaires with lucrative investment opportunities. For instance, in areas like Downtown Dubai and Dubai Marina, $1 million can buy spacious three-bedroom apartments ranging from 2,000 to 2,500 square feet, offering city skyline views and luxurious amenities.
Los Angeles: Glamour and High Prices
In Los Angeles, a similar budget offers a different spectrum of housing. In popular areas like West Hollywood or Silver Lake, $1 million typically fetches modest two-bedroom condos ranging from 1,000 to 1,500 square feet, with shared amenities and city views. In emerging neighborhoods like Highland Park or Leimert Park, this budget might buy a small three-bedroom house of approximately 1,500 square feet.
Comparison of Specific Properties
The Address Fountain Views 1, Downtown Dubai
Price: AED 3,650,000 ($993,731)
Features: One bedroom, two bathrooms, 840 sq. ft., fully furnished, Burj Khalifa view, infinity pool, gym, spa, basketball court.
818 North Doheny Drive, West Hollywood
Price: $1,149,000 (AED 4,220,305)
Features: One bedroom, one bathroom, 1,154 sq. ft., $300k remodeling, high-end appliances, Napoleon electric fireplace, open floor plan, walk-in closet, large balcony.
23 Marina, Dubai Marina
Price: AED 3,650,000 ($993,731)
Features: Three bedrooms, four bathrooms, 2,980 sq. ft., maid’s room, two parking spaces, open-plan living and dining room, semi-open plan kitchen, wrap-around balcony, skyline views.
6764 North Figueroa Street, Los Angeles
Price: $999,999 (AED 3,672,856)
Features: Four bedrooms, two bathrooms, landscaped backyard, two-car garage, storage room, attic, handmade wood barn doors.
Real Estate Markets in Dubai and Los Angeles
According to Arabian Business, Dubai’s real estate market offers rental yields of up to 11% in some areas in 2024, significantly outperforming global benchmarks. Meanwhile, Los Angeles is experiencing a slowdown in its property sector due to rising mortgage rates, as reported by Norada Real Estate Investments.
Both markets offer diverse property types for those with a $1 million budget.
Consider purchasing property in Dubai through SPI Dubai to take advantage of unique investment opportunities and luxurious living in one of the world’s most dynamically developing cities.
