Why Invest In Business Bay Property, Dubai, The UAE
Business Bay is one of the trendiest residential and business centers in Dubai. Situated amidst the sparkling waters of the Dubai Canal, it is adjacent to the centre of Dubai – Downtown Dubai. The district has quickly achieved its creators’ goal of becoming the central business center of Dubai; now it is often compared to Manhattan in New York. Property in Business Bay in 2022 is in demand both for permanent relocation and for investment. The community has a wide enough range of objects, which allows you to pick up real estate in Dubai for any purpose.
The territory belongs to a free zone, which allows foreigners to own and dispose of the real estate at their own discretion. As an added bonus, homeowners can get a resident’s visa. When buying a home worth more than 204 thousand dollars you can apply for a three-year resident visa. If the apartment or villa is worth more than $ 545 thousand, you can get a ten-year “golden visa”.
The Best Real Estate In Dubai In The City Center
The dominant type of objects in the community is apartments with a different number of bedrooms. They are located in modern residential complexes with a full range of amenities. The increased comfort is provided by the presence of swimming pools, fitness centers, and athletic fields. Villas for sale in Dubai are less common in the neighborhood and are mostly located in the podium area of skyscrapers. The relatively young community offers residents a developed infrastructure. The following number of points is to be highlighted among its advantages.
The success of any real estate transaction is determined by its square footage and surrounding properties. Every buyer wants their property to be located in close proximity to:
- Shopping centers, supermarkets, stores and markets;
- Medical facilities;
- Educational institutions;
- Restaurants and entertainment venues.
Fortunately, Business Bay is adjacent to the Downtown Dubai area, so local residential units offer views of posh skyscrapers such as the Burj Khalifa and other world-famous landmarks. This is an ideal location for people seeking an upscale lifestyle surrounded by fine restaurants and first-class hotels.
The community also has an extensive transportation infrastructure. Firstly, there is the Dubai Water Canal, an artificial canal that connects Old Dubai to the Persian Gulf. Secondly, there are two subway stations and many bus stops from which locals can get anywhere in the city. There are also always land and water cabs at their disposal, and the metropolitan international airport is a 15-minute drive from the area.
High Return on Investment (ROI)
Apartments in Dubai in this community have a high ROI.
The area has 12 Executive Towers, which offer residential units with different configurations and interior features. The average price of 1, 2 and 3-bedroom apartments in the complex is AED 1.11 million, AED 1.77 million and AED 2.57 million, respectively. The average ROI is 5.13%.
Al Habtoor is another important property in the Dubai real estate market, offering residential and commercial units for sale. The average price of local 1, 2 and 3 bedroom apartments is AED 1.16 million, AED 1.8 million and AED 2.76 million respectively. The average ROI is 5.47%.
Residential properties at DAMAC Towers by Paramount Hotels and Resorts also offer an average ROI of 5.47%. The average cost of a studio is AED 734,000, while 1, 2 and 3-bedroom apartments are AED 1.15 million, AED 1.84 million and AED 2.64 million respectively.
Millennium Binghatti Residences is another complex for a bargain purchase. The average price of 2 and 3-bedroom apartments is 1 million and 1.71 million UAE dirhams. The average ROI is 6.12%.
Wide Range Of Amenities
The community is a hub of entertainment, business, exciting events, fine dining, stylish lounges, 5-star hotels and award-winning aesthetic infrastructure. There are also parks, playgrounds, yoga areas, spas and facilities with magnificent views of the waterway. Real estate for sale in Dubai in this community is aimed at a wide social audience. It is suitable for retirees and families with children, as well as young professionals.
The profitability of investing in off-plan projects in Dubai in the Business Bay area
Off-plan properties for sale in Dubai remain the most profitable investments. Some of the advantages of investing include the following:
- More affordable price at the time of the start of sales. Usually by the time of delivery of the residential complex apartments in it automatically go up in price.
- The possibility of buying a home with payment in stages. Fixed fee is usually 10-15% of the total cost; the remaining payments are divided into separate stages of construction. The remaining amount is paid at the time of delivery.
- Installment payments from developers. Most developers are trying to attract investors and offer favorable terms. Installment allows you to pay part of the amount already when the house is commissioned. Unlike the mortgage, it is not taxed interest. As a result, the buyer can get a profit from renting the object as soon as it is ready, paying for the purchase from the funds received from the landlords. When the budget is tight it is especially profitable.
- High liquidity housing in the center of the metropolis allows you to resell it at a higher price at any time, including until the end of construction. Since most of the population of the Emirate is expats, the demand for housing stock in the area is consistently high.
Professional Assistance Of Real Estate Agency In Dubai
At https://www.axcapital.ae/ you can find apartments for sale in Dubai, the Business Bay community and beyond. Intuitively, a simple search system allows you to find housing in any of the popular locations in the metropolis by adjusting settings for location, price, and area. Specialists are ready to advise on the selection and purchase of housing in real time. Just fill out a feedback form or use the contact details provided on the website.