A new wave of transport, retail and leisure facilities at Dubai Marina, continuing to drive buyer demand at the popular beachside location, where prices have risen by 28 per cent, to Dh1,670 ($454) per sq ft in the past five years, according to leading real estate consultancy, Cluttons.

With the Dubai tram now fully operational and The Beach Mall offering a convenient mix of retail, dining and entertainment just a few minutes stroll away, residential units at Jumeirah Beach Residence (JBR) are proving a popular choice for both domestic buyers in search of a home and, international buyers looking for turnkey investments, it stated.

According to Cluttons, these latest additions to the waterfront location will continue to drive the value of real estate in JBR, with residential developments like Shams 1 proving popular with investors as they look to add prime real estate, with attractive rental yields, to their portfolios.

Across Dubai, the  average residential values stand at Dh1,493 ($406) per sq ft, considerably lower than other premium locations within Dubai Marina.

Lucy Bush, the head of residential sales and leasing at Cluttons, said: "JBR and Dubai Marina have become increasingly popular locations over the past five years, with many residential properties at 100 per cent occupancy. We have already seen strong demand for units at Shams 1 due to its premium location and unique lifestyle offerings right on the doorstep."

"These have been boosted further by new transport links, retail and food and beverages (F&B) offerings making JBR one of Dubai’s most fashionable destinations," she noted.

Shams 1 is situated at the western end of JBR, offering views of the azure gulf waters, beach clubs, watersports, boutique shops, five star hotels, and world-class restaurants and bars. It is just a few minutes stroll from JBR beach, the bustling Walk promenade, and The Beach Mall which features the UAE’s first open air cinema, according to Cluttons.

The luxury beachside residence also has excellent transport connections with a tram stop located right outside the apartment building and JLT metro station just a few minutes’ walk away, said the expert.

Buyers commuting by car are a short drive away from the Sheikh Zayed Road, ideal for commuters heading towards the south of Dubai and Abu Dhabi, it added.

With one, two, three and four bedroom apartments for sale as well as duplexes and penthouses, Shams 1 is an instant investment return and Cluttons offers a fast-track service that includes full management services.

"With Dubai’s real estate market stabilising throughout 2014, we have seen the rate of house price growth slow," remarked Faisal Durrani, the international research and business development manager at Cluttons.

"Prices have however continued to hold or rise in the well-established areas such as Dubai Marina and JBR, supported by completed infrastructure and community facilities," he noted.

According to Durrani, this appeals to owner occupiers who are seeking beachside living and international investors that can achieve rental yields in the region of six to eight per cent.

"With this rate of return it’s not surprising that Dubai featured second among nine global investment locations in our most recent International Private Capital Survey by Cluttons, just beaten by London to the number one spot," he added.-TradeArabia News Service