Buy Off Plan Property in Dubai, UAE
Looking for off-plan projects in Dubai to invest in or buy your dream home? We have the complete list of all off-plan properties in Dubai.
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What exactly is an off-plan property?
Off-plan property is one that has been fully planned, registered with the Dubai Land Department, and has an escrow bank account. It is sold with a payment plan that may include post-handover fees in order to maximize the ROI. Off-plan property could be a villa, apartment, or townhouse sold by an investor (secondary market) or a property developer (primary market) such as Meraas, Damac, Dubai Holding, Ellington, and Sobha. You can purchase an off-the-plan property while it is still in the planning or construction stages. Typically, investors prefer to invest in off-plan projects due to their flexible payment plans and the potential for capital appreciation and high ROI after handover.
While flexible payment plans are still available, take advantage of them.
The increase in off-plan property sales was driven mostly by developers’ tempting post-handover payment plans. Buyers with low financial resources do not need to wait for market rates to improve their financial situation because payments for these assets are phased over a few years.
The newest trend will be affordability.
Off-plan sales propelled the luxury market’s robust performance last year. However, developers’ plans have recently changed away from high-end luxury and toward off-plan constructions that are inexpensive and mid-class. As multi-cultural transplants and economic migrants continue to relocate to Dubai, there will be a persistent and steady demand for cheap accommodation in the foreseeable future. The developing trend of affordability is projected to meet the rising demand from this burgeoning, underrepresented customer niche. It can be a potentially profitable investment for savvy property owners wishing to get their feet wet in the rental sector, especially if the area is expected to be a premier rental market with a high rental yield. The key to making sound decisions about this investment opportunity, as with any other, is to arm oneself with information. Of course, you can chat with our off-plan consultants, who have the knowledge and experience to guide you through the complexities of property investment.