Business Bay offers many apartments for investment. However, you must look before you leap because doing so will help you truly identify the best area for you. Longevity Live Paid Content.
Tons of People Buy Property and Find it incompatible three years later.
Many people indeed buy property in Dubai, only to regret it some years down the line for its incompatibility with their personalities, needs, or intentions. That is why you must decide on properties logically, devoid of the pressures of their beauty and cadence. Once you purchase a property, it remains yours forever unless you resell it. The reality, your tastes and your needs are also likely to remain constant. So, what is the way forward? People who buy properties on a whim tend to enjoy them less than those who make their decisions logically, especially a few years after the fact.
The world is already busy enough. Therefore, if you do not enjoy the practice of changing properties every 2-3 years, you should avoid panic or emotional buying. According to AX Capital, people who crave stability must look beyond their immediate needs and ask these questions:
- Will this property still be of value to me 3 – 5 years later?
- Does this property meet my immediate and long-term plans?
- What are my backup plans should I fall out of love with this property?
If it is a rental, you do not need to worry much because you can always switch apartments. However, a purchase should carry more attention.
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Reasons Why Business Bay is Great for Property Investment
Located just beside Downtown Dubai and surrounded by other vital areas such as Jumeirah, the Business Bay community carries exceptional promise. The positioning is so great that you can access all the best places in town without traveling far.
Furthermore, there are many apartments in Business Bay for investment, villas, penthouses, and bedroom apartments of varying sizes – from one to five bedrooms, condo apartments, etc. As such, there is barely any property you genuinely desire that cannot be found in the area.
Business Bay has also been rated as a splendid place for families. It offers ample provisions for malls and family units on the one hand, and play parks such as Bay Avenue Park, etc. These give parents great options for children’s relaxation (see downsides on schools).
Furthermore, the views in this part of the city are amazing. From the backdrop of the mighty Burj Khalifa, or its shadows, to the dropping waters of the Dubai Canal and the sweet savor of the jogging paths, it is an excellent exercise option and another great opportunity to meet someone and start a conversation.
Lastly, the area has a mixture of companies, businesses, and employers, which boosts the employability margin and makes it much easier to secure gigs. As such, it is not only a great place to stay because of its excellent facilities. But it also offers nice jobs and takes away the burden of having to travel for hours to get to work.
Downsides and the Not-So-Cool Facts About Business Bay
High Tower Living – Let’s say you are looking for lowly living in a community-like pattern, where villas are clustered in perfect serenity and green palm trees clear the air. In this case, it would be best if you were looking into Jumeirah and not Business Bay. Most properties here have 15 floors and above. While that is splendid for maximum views and reach for personal living. It is highly industrialized and less family-like. As a result, it may be too stressful for a family with three or more kids scurrying around the house.
Secondly, the traffic to-and-fro business bay is maddening. The last thing you want is to be caught in it during rush hour. Because you may spend hours in it. Although there is a bus terminal and public transportation system in and out of the bay, traffic makes it unbearable. If you have your own transportation, schedule your return time to beat the rush hours and avoid all that stress.
Lastly, as unique and enjoyable as Business Bay may be, there are no schools in the area. You will have to travel to neighboring districts to get your kids to school. So you may want to consider that downside before you make your purchase.
A Recap of the Major Points
This blog post discusses the various considerations that people ought to make when buying property in Business Bay (these could also be applied to other areas in Dubai); it suggests that while there may be no need for deep thinking as regards rentals when one is purchasing property on a long-term basis, it is essential for you to ask yourself questions and not merely buy on impulse. Such a property must be able to meet your immediate and long-term needs, and you must structure backup plans accordingly. Click here to discover how traveling can extend your life.
Main photo credit: VisitDubai .com
Who is the author?
Dmitri Zolotco is a Doctor of Science in International Law, a skilled negotiator, and the author of scientific articles, monographs, and books. He has 10+ years of experience in the real estate industry, having worked for various organizations, including Parliamentary Commission on Foreign Policy and his agency in Chisinau.
DMITRI ZOLOTCO
