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Investing in a penthouse in Business Bay can offer a luxurious and upscale lifestyle in the heart of Dubai. Business Bay is a popular residential area with stunning waterfront properties and top-of-the-line amenities. With various penthouses available for sale in this area, it can take time to choose the perfect one. However, with careful research and the help of a reputable real estate agent, investing in a penthouse in Business Bay can be a wise decision.
Business Bay has a diverse selection of luxurious penthouses available for sale. These penthouses come in various styles, sizes, and designs to meet the needs and preferences of different buyers. One of the most popular types of penthouses is the duplex penthouse. It spans two floors and typically features a large living area, multiple bedrooms, and a private terrace or balcony.
Another type of penthouse available in Business Bay is the triplex penthouse, which spans three floors and is often designed to maximize space and privacy. These penthouses may feature private elevators, rooftop gardens, panoramic views of the Dubai Canal and surrounding cityscape.
Simplex penthouses are also available in Business Bay and are ideal for buyers who prefer a more straightforward and compact living arrangement. These penthouses typically offer an open-plan living area, one or two bedrooms, and stunning views of the city.
Regardless of the type of penthouse, most units in Business Bay offer luxurious amenities such as private swimming pools, Jacuzzis, and large terraces. They also offer breath-taking cityscape views, including the iconic Burj Khalifa.
The cost of purchasing a penthouse in Business Bay can vary depending on several factors—for example, the building's age and reputation. Generally, penthouses in Business Bay are considered high-end properties.
The price for a penthouse in Business Bay can range from AED 5 million to AED 50 million or more. The costliest penthouses are usually the larger ones with the best views and top-of-the-line amenities.
There are other expenses to consider when investing in a penthouse in Business Bay. For instance, buyers may have to pay a registration fee to the Dubai Land Department, a broker's fee, and a property transfer fee.
The registration fee is a one-time payment to the Dubai Land Department, typically 4% of the property value. Broker fees are typically 2% of the property value and are paid to the real estate agent facilitating the transaction. The property transfer fee is also paid to the Dubai Land Department, typically 4% of the property value. It is important to factor in these additional fees when budgeting to purchase a penthouse in Business Bay.
Moreover, buyers are also required to pay service charges, which cover the maintenance and upkeep of the building and its amenities. The service charges vary depending on the building and the amenities provided. They are generally higher for penthouses due to their size and the extra amenities they offer.
Lastly, investors may have to pay property taxes on their penthouses, which vary depending on the property value and local regulations.
Business Bay is a vibrant neighbourhood in Dubai that offers its residents an upscale and luxurious lifestyle. The area is known for its modern architecture, stunning waterfront views, and convenient location. Business Bay has many high-end restaurants, cafes, and retail outlets. The area is well-connected to other parts of Dubai like Al Barsha, Jumeirah Lakes Towers and Dubai Marina, with easy access to major highways and public transportation. With its lively atmosphere and cosmopolitan vibe, Business Bay is an excellent choice for those seeking a modern and sophisticated lifestyle in Dubai.
Business Bay is known for offering a wide range of activities to its residents, including:
Overall, Business Bay offers a diverse range of activities that cater to different interests and lifestyles.
