When purchasing a property, several considerations need to be taken into account. Are you purchasing the property for investment purposes, or are you intending to make it a future home? Either way, location is one of the most important factors that will determine the long-term success of this purchase. What makes a location one of the most vital components of any property investment? It creates desirability, desirability then creates demand, and demand is what ultimately leads to long term profitability. While the condition and price of any home can change over time, the location cannot – which makes it a vital consideration. As such, paying particular attention to these key details, will assist you in making the best long term choice for your future.
Dubai presents investors with multiple tax-free investment opportunities, of which real estate is one of the most compelling. With no income tax due on rental fees, no stamp due or property tax Dubai is perfectly positioned to reward savvy investors within the real estate industry. Choosing the right location is an essential detail as it will undoubtedly affect the ROI expected in the future. A desirable location, particularly placements that boast waterfront views, or tantalizing views of Dubai’s famed skyline, will ensure the property retains consumer interest throughout its life cycle. This will maintain your properties’ value, allowing it to stand the test of time and hold a consistent value for the purchaser.
Dubai’s luxury real estate investments are extremely lucrative in terms of both capital and rental yields, offering returns far more than many other locations across the world. Investing in a location that has easy access to amenities such as shopping outlets, healthcare facilities, education and entertainment venues is what drives higher prices.
Dubai Marina and Business Bay are located in prime destinations destinations within the city, both of which offer excellent returns on investment. According to Property Monitor, the average gross yield for an apartment in Business Bay is 5.1%, while in Dubai Marina it sits at 5.6%.
Dubai Marina and Business Bay are excellent settings in which to own a rental property as these areas appeal to both short- and long-term renters. Properties in these areas are highly sought after by tourists due to their close proximity to major attractions such as Ain Dubai, The Beach, Burj Khalifa and Dubai Mall. While they appeal to young professionals, many of whom will work in the likes of DIFC, Internet City and Media City, not to mention the myriad of offices in Dubai Marina and Business Bay themselves.
When you are choosing a home investment you are ultimately choosing a lifestyle for yourself or your tenants. This is why it’s vital to carefully consider the location that is going to best suit your lifestyle requirements. Both Dubai Marina and Business Bay are highly sought-after waterfront destinations offering its residents an upscale cosmopolitan lifestyle.
Dubai Marina is ideal for young active individuals and families. Having the beach and the Marina promenade on your doorstep makes for the perfect leisure destination. It offers an enviable mix of skyscrapers and ultra-exclusive amenities. With an abundance of restaurants, cafes, eateries and retail outlets available, you truly are spoilt for choice. Its strategic location and ease of access to multiple public transport options makes it a popular choice for those who enjoy the convenience of city living. Commuting to and from work is a big part of peoples’ lives so being close to roads and public transport is a big factor. Residents have easy access to Sheikh Zayed Road and are a short distance to hubs including Dubai Media City and Dubai Internet City. Encompassed by a free spirited atmosphere, Dubai Marina hosts an active nightlife scene and attracts many singles and young couples.
Business Bay is a centrally located, well connected, waterfront community at the beating heart of Dubai. Residents of this social hot spot can enjoy a vibrant lifestyle, filled with a wide variety of entertainment and leisure activities. It is an absolute haven for those who enjoy a high-end lifestyle. Being located on the edge of Downtown Dubai, means that both families and young business professionals can enjoy this area on their own terms. With an incredible view of Dubai’s glittering skyline, this professional and residential hub is a lifestyle destination offering a diverse ambience with a wide host of restaurants, hotels and retail outlets conveniently at close reach.
A property markets’ appreciation is aided by the support of growth in the local neighbourhood and the community’s social infrastructure, signifying a broadening community. Future developments are imperative to the prosperity of your chosen community and help to increase home values.
Georges joined Select Group as Commercial Director in 2020. He has over 18 years’ experience in destination management and expert knowledge across an array of industries including hospitality, tourism and MICE. He has a deep understanding of the GCC, and the buying behavior of the international visitors to the region.