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Property for sale in Business Bay
The quarter is a large business centre. There are many branches of foreign companies and organizations. However, in addition to commercial areas, there are also numerous residential properties.
The area of this location is 6,000 km2. The block plan includes 240 multifunctional, commercial, and residential high-rise buildings.
Luxury apartments and flats with high-end amenities are being built in the area. The number of rooms in such overseas properties varies from 1 to 4. In addition to residences with living rooms and bedrooms, there are also cosy studios in the quarter.
Real estate in Business Bay for investment and permanent residence will allow you to save money on rental housing or earn good money. The cost of daily rent of a 76 m2 studio in this area is AED 450 ($122) per day.
The cost of long-term rental of an apartment in Dubai in this residential complex is AED 9,750 ($2,650) per month. It is an 89 m2 residence with 1 bedroom. Having such housing, you can save AED 117,000 (about $32,000) per year.
The minimum rental cost in the area is AED 6,250 ($1,700) per month. You can rent a 47 m2 studio for this amount. Your savings will be AED 75,000 ($20,400).
These figures also show how much you can earn regularly if you rent out your apartment in this place.
Lifestyle in Business Bay
The area has a promenade on the Dubai Water Canal, which includes diverse shops, fine restaurants, and cosy cafes. Residents of the quarter have the opportunity to walk along the shore and have a snack at local catering outlets.
The community is perfect for businessmen and investors, as this location is the emirate’s office centre. They can buy or rent an office here and invest in commercial spaces to resell or rent them out.
Hired employees purchase and rent housing in this complex to get to their workplace as quickly as possible.
Property prices in Business Bay
The property cost in Business Bay starts at AED 498,888 (about $136,000). That is how much the seller can ask for their 32 m2 studio.
You can purchase a 61 m2 apartment with a living room and 1 bedroom for at least AED 599,999 ($163,350).
A 138 m2 residence with a living room and 2 bedrooms is available for sale for at least AED 2.3 million (about $626,200).
The lowest cost for a 30 m2 flat with a living room and 3 bedrooms is AED 526,000 (about $143,200).
Real estate investment in Business Bay
Owners of property in Dubai in this community have a high stable income. Landlords of apartments and villas in Dubai have up to 6% of the cost of housing per year, depending on the number of rooms in the residence. So, the annual ROI in studios is approx. 6%. The return on investment in a 1-bedroom apartment is 5.8% per year. The ROI in a 2-bedroom flat in this complex is 5.1%. The more rooms there are in a residence, the lower its profitability is. For example, 5-bedroom Business Bay properties have a yield of 3.9%.
Foreigners can buy real estate in Business Bay for investment and permanent residence. If you want to purchase an apartment or a house to live in Dubai or come to the city for a seasonal holiday, and save up to 20% of the cost of the residence, you need to buy an off-plan home here. The best option for you is buying a property in Business Bay at an early construction stage.
If you want to make money on reselling your sea view residential unit, you need to follow this plan: you can acquire an off-plan apartment and sell it after the complex is put into operation
Many investors adhere to the following well-thought-out strategy: first, they rent out their apartments, and when these overseas properties rise in price, they resell them in a year or two. According to some experts, the cost of apartments and villas in the city will increase from 5% to 20% in 2023, so homeowners have the opportunity to receive a stable income from leasing first, and make good money on resale after a while.
There are no long-term construction projects or buildings in Dubai that have not been commissioned, the so-called abandoned construction sites. Developers try to deliver their communities on time. If the company cannot continue to erect the residential complex, it hands over this development project to another development organization that can implement it. That is why, when purchasing off-plan housing by the sea, buyers can not worry about what they will move into, or help tenants move in on time as they plan.
Buy a property in Business Bay on Emirates.Estate
A realtor and a lawyer will help a foreigner to buy real estate for sale in Business Bay. The Emirates.Estate aggregator contains the best offers from developers and agencies for the sale of housing. Before contacting a specialist, you can browse through numerous housing options with detailed information and photos.
You can search for a property for investment by the following parameters: name of the city, type of housing, number of bedrooms and bathrooms, area of an apartment or house, primary or secondary housing, purchase by instalments or not, number of floors of the house, date of commissioning of overseas properties in the real estate market, distance to the nearest airport and the sea coast, fully/partially furnished or unfinished real estate and with/without household appliances.
You can check the price of properties for sale in Business Bay, Dubai, UAE, at Emirates.Estate. Almost all offers have prices in dollars and euros for customers’ convenience.
Foreigners have the opportunity to purchase a home in the community in instalments or with a mortgage. Brokers and lawyers will competently guide the buyer through all stages of the transaction: from choosing apartments in the United Arab Emirates to receiving keys. A foreigner can pick up a residence or buy an entire house in Business Bay while in another country. To do this, he needs to call us at the phone numbers listed on the website or write in the feedback form.