Investment in off-plan/under construction properties is popular among investors because of many benefits. Whilst there are numerous benefits of buying off-plan properties, there are some things you should consider.
We at Water World Real Estate, have gathered a comprehensive and all-inclusive guide for buying off-plan property in Dubai.
Benefits Of Investing in Off-Plan Property
1. Maximize ROI
Buying off-plan property ensures that investors get the lowest and the earliest price. It also provides room for making a choice. Early investors can choose a unit that has the best views along with the easiest payment plans. As time passes, the property gains value providing maximum returns on investment.
2. Sell For Profit Without Waiting for Completion
Projects of popular developers have higher chances of performing well in the market. Buyers who did not buy early do not hesitate to purchase such properties at a higher price. Therefore, early investors have the chance to earn a handsome profit on their investment without waiting for the project to be completed.
Early investors have a chance to earn profit without paying the dues 100% making their short-term investments worthwhile.
3. Easy Down Payments
When a project is launched, it is at its lowest price. Hence, it becomes easy for an investor to make the down payment. Down payments for completed properties are 25 percent of the property value for expats (and 20 percent for Emiratis), buying an off-plan property will save investors this hefty amount – as down payments for off-plan properties are only 10% onwards.
Things To Remember When Buying Off-Plan Properties in Dubai
Now that you have decided to invest in off-plan properties in Dubai, here are some points to keep in mind and keep things simple for you.
- Ensure the project is registered with Real Estate Regulatory Agency (RERA)
When buying a property for the sake of investment or to reside in, make sure the property is registered with RERA (Real Estate Regulatory Authority). It is a proof that the developer has followed the legal guidelines and investors are safe.
- Know The Escrow Account Number and The Agent’s info
Escrow account is where the investor’s money is stored when the transaction is completed. It is important to keep record of all the transactions you made against the property.
- It Never Hurts to Know More About the Property
When buying an off-plan property, it is worth your while to know when the project is estimated to be completed along with the handover date. Water World Real Estate will make this information available to you when you decide to invest in an off-plan property in Dubai.
- Additional Registrations with RERA
According to the Dubai law, the property developer as well as the land on which the property is being built must be registered with RERA.
- Approvals from DLD & RERA
To sell off a property, the developer must have permits and approvals from the Dubai Land Department (DLD) and RERA. When choosing a property, make sure you have verified all relevant documents to avoid facing trouble down the lane.
Water World Real Estate Makes It Easy For You To Invest In Off-Plan Property in Dubai
Whether you’re seeking a home for your family or looking to broaden your property portfolio, our experienced Property Managers are dedicated to helping you through every step of your real estate journey.
Start today by investing in Dubai real estate through Water World Real Estate and we assure you of the best services and experience you will have with us.