A plethora of advantages come with investing in off-plan properties in Dubai. To begin, Off-plan properties, simply refer to those projects or constructions that are at the planning stage, and whose construction is yet to be initiated or completed. Off-plan properties for sale have gained prominence over the years for a wide range of benefits that buyers derive from them. “Developers in Dubai are keeping the off-plan pipeline running hot, with a 130 per cent rise in launches totalling 130,000 units from 67 projects in these last six months.” This is reflective of the huge demand for off-plan properties and customers’ inclination to buy off-plan.
Off-plan property investment is becoming increasingly popular in Dubai, as investors seek to capitalize on the current market conditions. If you’re looking for an investment property, Dubai is a great place to consider. Thanks to its booming economy and growing population, the market for rental and sales properties is strong. Here’s why investing in off-plan properties in Dubai might be a smart move for you.
Dubai off-plan property for sale is a win-win situation for the buyer as well as the developer. The buyer gains significantly through the lowered prices and the developer gets to understand the trend or demand for a particular property type based on which he acquires better insights to construct a property aligned to the needs of his/ her customer base. Enticing payment plans further draw investors toward parking their money in off-plan properties in Dubai.
Most people buy off-plan properties for the impressive return on investment that it offers. Once a buyer invests in off-plan property, he is assured of a rise in the price of the property after its completion thus, Making such projects a highly attractive investment option for all segments of buyers and investors. The location where the property is situated is an important determinant of the rise in property prices depending upon factors such as demand, connectivity, and development among other factors.
Dubai has a robust grievance redressal mechanism to protect the interests of its buyers and investors thereby, giving a boost to its global image as a country with stable and reliable laws, cognizant of the issues off-plan properties of Dubai may potentially attract.
Before purchasing any off-plan property in Dubai or elsewhere, one common fear that lingers in the mind of buyers is the rare possibility of the project they invest in remaining incomplete due to legal complications or any other unprecedented event that may arise.
These apprehensions have however been addressed through the establishment of RERA (Real Estate Regulatory Authority) and Dubai Land Department (DLD) that keep a watchful gaze over projects under development in Dubai.
Some protection measures include liability upon the developer to guarantee 20% of the building cost or having an escrow account that can be accessed by the developer only after the proposed project witnesses a certain level of progress.
At a time when countries around the world are raising their tax rates to increase their government revenues, Dubai offers a growing economy with a zero to negligible tax structure making it an ideal destination for buyers to park their assets.
Off-plan properties in Dubai fetch good rental incomes for Dubai is a connecting city between the east and the west that creates steady demand for affordable and luxury housing in the city. ROI for such properties always remain high irrespective of any slump in overall property prices. Interestingly, the FIFA world cup to be held in Qatar has led to a surge in demand for short-term rentals in Dubai, as the city hosts a more permissive environment with being well connected to Doha through multiple flights during the quadrennial event.
With the booming real estate sector of Dubai, it cannot go unnoticed that many players have ventured into Dubai’s off-plan property for sale. A buyer is spoilt for the choice and variety of such properties in areas of Downtown Dubai, Business Bay JVC and so many more! All the areas mentioned are unique in their characteristics to suit customers’ aspirations and expectations, so these are some of the most popular destinations to settle for anyone looking for a property in Dubai.
Handcrafted for you
When a project is yet to be constructed, the biggest leverage a buyer gains is on customization. A ready-to-move-in property may not give you the freedom to build your dream place in a manner that suits your criteria. Off-plan property is a great way for you to capitalize on your creativity and artisanship to make a house that comforts you and your loved ones.
If you are looking for an investment that has the potential to offer high returns, buying off-plan property in Dubai is a great option. With new developments popping up all over the city and increasing demand from investors and homeowners alike, now is the perfect time to purchase property in Dubai. Contact us today to learn more about our current offerings and how we can help you find the perfect property in Dubai for your needs.