The UAE’s foreign real estate remains attractive to investors. 2021 was a record year, with sales soaring for the first time since 2014. In 2021, there were 84,196 real estate transactions for over $81 billion. Business Bay, the emirate’s most popular area, remains one of the leading sales hubs. This is a young community. Its development began in 2003. It is one of the leading destinations in demand for a property for sale in Dubai. Let’s consider its advantages for those planning to move to permanent residence and those who choose a property for investment.
Why real estate agencies in Dubai recommend Business Bay
According to the pace of development, the district is compared to Manhattan in New York City. This is the business center of the emirate, which combines office buildings and residential skyscrapers. Off-plan projects in Dubai are underway to purchase not only ready-made but also off-plan housing. The district has the following advantages:
- Good location. The community is close to the fashionable Downtown Dubai community, as well as Dubai Marina and Jumeirah beaches.
- Proximity to the airport. It is a 15-minute drive away.
- Developed infrastructure. Many restaurants, shopping centers, and a spacious promenade for walking attract tourists.
- Proximity to such major attractions as Burj Khalifa skyscraper, singing fountains, and aquarium.
- Active development. The construction of the Marasi Business Bay community is underway on the embankment. The plans include not only apartments in residential complexes but also houseboats, where you can choose off-plan properties for sale in Dubai for any budget.
How much can real estate in Dubai cost?
The cost of apartments varies from $200,000 to $11,000,000. The price of the villas depends on the comfort and number of rooms and starts from $1,000,000. More detailed information about the cost of apartments, houses, and villas for sale in Dubai is available on the official website of AX Capital.
Advantages of buying flats in Dubai
Foreign nationals can buy real estate in over 60 communities of the metropolis. These are the so-called freehold zones, where expats can own and dispose of property like UAE citizens. Business Bay is one of them. These are the advantages of buying a home:
- With its rapid growth and luxurious lifestyle, property in Dubai, particularly in Business Bay, offers an unparalleled investment opportunity. The area’s modern amenities and strategic location make property in Dubai not just a purchase but a wise investment in a lifestyle full of potential and growth.
- Attractive prices. If you compare apartments for sale in Dubai with the cost of real estate in London or New York, you can see this clearly.
- Value capitalization. Housing prices in the emirate are rising steadily not only to keep money from inflation but also to multiply it.
- A stable income. Housing can be rented out, including remotely, and receive 7-8% of profit annually.
It is also important to keep in mind that there is no personal income tax in the United Arab Emirates. This means that owning a property in Dubai will not have an additional tax burden, and the rental profit will be pure.
