The five investment characteristics that make real estate on Business Bay so attractive
Find out why Business Bay is considered an example of an attractive neighborhood in invest in, and what characteristics you should pay attention to when choosing a property.
For newcomers to the world of real estate, the purchase of property abroad may seem a complicated process. And it is natural to worry about the experience. However, most common worries are connected to a lack of information and abundance of speculation and cautionary tales (whether true or not).
Despite this, for many people, investing in property overseas remains an attractive proposition. And one destination that has caught the eye of many investors is Business Bay in Dubai.
If you wish to explore properties in this area you will need to find an agent to help, as the government of the UAE issued the legislation that each transaction should be managed by a certified broker. This approach keeps both buyers and developers safer.
In this article we will look at why Business Bay is attracting investment. This includes the affordable prices apartments in Business Bay, along with its convenient location.
Reasons to invest in real estate
In general, the reasons for investing in the property market remain the same across country and location. People invest in real estate in order to:
- To get passive income. To do this, they use their own vacant property, buy new property for cash or take out a mortgage. Then find tenants and make a monthly profit.
- Preserve savings. To keep money from depreciating due to inflation, they often invest in real estate. They buy commercial, residential, budget, and luxury properties. Those that will not go down in value. Commercial properties are better to buy in areas with high traffic, and residential – in areas with developing infrastructure.
- Get income from resale or exchange at a markup.
Get to know Business Bay
The question of where to invest your savings is always an important one, but is even more essential in times of economic uncertainty. And one popular place to invest your savings is real estate; residential and commercial projects remain in demand and are able to generate good profits.
This concept is especially attractive if you decide to invest in a country with one of the most stable economies in the world.
Business Bay is a neighborhood under construction that intends to become a home for offices of international companies. The developers plan to develop a global commercial center in the UAE, with high-end office space and high-end apartments which will be surrounded by beautifully landscaped gardens and canals.
Five characteristics of a good property for investment
So what makes a good property investment? While there are never any guarantees of return, there are some characteristics that generally make a good property for investment. Here are five reasons why Business Bay could be a good area to look at.
Business Bay is different from other property developments because of the available infrastructure, the presence of attractions, hospitals, business opportunities, and training. The area is generating interest among business people, as an area with a large number of organizations and companies is popular. It gives the opportunity to establish business links and build successful careers in your desired industry.
2) Taxes on the real estate purchase
The UAE does not set taxes on real estate, however it requires the buyers to pay some additional costs. They include registration fees, taxes for the issuance of certificate of ownership, a fee for processing credit, etc. Their amount depends on the property value and is assessed individually.
3) Safety of the neighborhood
The process of a transaction in Business Bay is absolutely transparent on both sides. When it comes to safety, and crime levels in particular, the risk is generally considered extremely low.
The migration policy in the UAE is strict and incorruptible. Residents of other countries have to undergo examinations and have no problems from their previous visit. These rules make the streets of Business Bay and other neighborhoods safe to walk alone in the middle of the night.
4) Job opportunities
There are no problems with doing business and employment in the Business Bay region. So it is no surprise that it attracts a large number of investors and tenants. Thanks to a stable economic environment and government initiatives, the neighborhood is set to become a heart of business in the country.
This indicates that there will be a huge number of jobs, which contributes to the attraction of new employees, and, accordingly, has an impact on the increased demand for rental housing.
5) Available infrastructure and future development
Business Bay boasts all the necessary amenities for permanent living. A huge number of retail stores, gyms with modern equipment, pools, hospitals, restaurants and other objects are available.
Premium real estate is represented by multi-bedroom apartments, penthouses and villas. As Business Bay is not completed yet, the developers are constantly improving the area, too.
Where to go for information on real estate in Business Bay
If you are looking for accurate information from a reliable source, it is important to contact a licensed agent in the real estate market. The real state agency Ax Capital works with developers to get the updated information on each housing option in Dubai the UAE.
If you are thinking about investing in property for sale in Business Bay, speak to a reputable agent. They will help to clear up any confusion or questions about buying a home abroad.