If you are a landlord in the United States, Great Britain, or the European Union, you may be astonished to see how much money it costs for tenants to lease an apartment and for you to maintain the apartment. In the times of the COVID pandemic, your property value is likely going up, while your tenants are drying up. It may be time to look elsewhere.
One of the places that are guaranteed to have a steady stream of revenue from expatriates in Dubai. Dubai has a low cost of living for expatriates, and currency from the United States, Great Britain, or the European Union will get a tenant much farther in life. So, whether you live in Dubai and are already a landlord, or if you want to expand your real estate empire overseas, Dubai will have a steady supply of expatriate tenants.
If getting an apartment for sale in Dubai sounds like a good investment, read on to discover where you can get an apartment for sale in Dubai.
Business Bay Dubai
Apartments for sale in Business Bay are usually within residential towers and are known for their high ceilings, big windows, marble floors, carpets, and upgraded interiors. Many apartments will also be designed in the urban architecture style. These apartments will be either studio or have 1-4 bedrooms and 1-6 bathrooms. They will also come either unfurnished or fully furnished. Those that live here can look forward to a life of luxury.
Business Bay Dubai is the commercial hub of Dubai and is near employment centers. This means that a resident of Business Bay only needs to roll out of bed, get ready for work, and then walk to their workplace. Business Bay also is near Downtown Dubai, which is the home of the Burj Khalifa, the world’s tallest tower. Other landmarks near Business Bay include the Dubai Water Canals and Dubai Creek.
Business Bay is also near the neighborhoods of Dubai Marina, Jadaf, and Festival City, and has access to Al Khail Road, Al Asyet Street, and the main highway of Sheikh Zayed Road.
A typical apartment for sale in Business Bay Dubai will have a barbecue area, a children’s play area, a driver’s room, a gazebo, an outdoor entertaining area, a laundry room, a maid’s room, a powder room, a storage room, and a study. The kitchen is typically a fully fitted, Italian-style kitchen with white goods. Finally, these apartments usually come with at least one balcony, built-in wardrobes, central air and heating, a fire alarm system, an intercom system, and a Jacuzzi.
Tenants who get an apartment for rent in Business Bay can expect to receive 24/7 maintenance, reception and concierge service, and security service. The towers are also monitored by CCTV systems. Tenants will also gain access to babysitting services, a laundry service, and a valet service. Next, they will have access to a business center and receive beach access and a marina berth. Finally, supermarkets and cafeterias are often found in the residential towers themselves.
Business Bay is home to a bank with an ATM, coffee shops, restaurants, and supermarkets. For those who want to be physically active, there is a basketball court, cycling tracks, a fitness center, a gym, a health club, a polo club and clubhouse, a shared swimming pool, sports academies, tennis, and squash courts, and walking trails. For those who like to relax and pamper themselves, there are communal gardens, a sauna, a spa, a minigolf course, a beauty salon, and a steam room. For those with children, there is a children’s nursery, a kids’ club, a park, and a school.
A medical center and pharmacy will take care of one’s medical needs, while a mosque will take care of one’s religious needs.
Business Bay is also within driving distance of Dubai Mall and the Bay Avenue Shopping Center. Finally, the area is served by public transportation. If you are looking to be a landlord in Business Bay, you can expect to purchase an apartment for sale from between AED 545,000 and AED 3,900,000. Your tenants will expect to pay between AED 30,000 and AED 1,300,000 in rent annually. In some places, you must buy with cash only.
The tenants you will attract with apartments in for rent Business Bay are young, employed people with families.
Business Bay Dubai is an excellent place for landlords who do not like to take risks on their tenants. Since Business Bay is near employment centers, it is very likely that your tenants will already be employed and are moving closer to work and, because of this, Business Bay is one of the least risky places to lease an apartment to others.