A guide to off plan: properties in Dubai

A guide to off plan: properties in Dubai

These days, the trend of off-plan properties in Dubai is gradually increasing. Investors want to earn more and more profit but don’t know about this important topic. In this article, you will discover off-plan properties, their advantages, and their risk.

What are off-plan properties in Dubai?

If you don’t already know, an off plan property in Dubai is a property that is yet to be constructed or is in the early stages of being built. It is purchased by the developer in the form of land, not a house. Usually the purchase of such properties happens by 10 to 20% down payment and Sales Purchase Agreement (SPA). Such properties are very cheap as there is no money spent on constructing anything but the price is just for the land that you are buying. If you are looking for real estate companies in Dubai, Zahabi Homes can help you. 

Advantages of off plan properties in Dubai 

Following are the advantages of off plan properties in Dubai:

  1. Save money

When investors buy an off plan property, they get the lowest purchase and initial price possible. It allows them to gain maximum on their investment and customise the apartment the way they want it to be. Secondly it also enables buyers to choose the best apartments in a particular development. 

  1. Sell before completion

Sometimes investors can sell their properties prior to a project completion. This can also give you a considerable profit if the market has performed well or it has proved famous owners. Looking for Downtown Dubai property for sale? Get in touch with Zahabi Homes. 

  1. Lowered upfront costs

When talking about the payment plan, it depends on developer to developer how much they charge. For example some developers only charge 5 to 6% down payment and the wrestling to construction costs. This can provide you with a relatively low charge to buy your off plan property.

  1. Brand New 

It is a fact that the human mind would choose something new rather than second hand or something that has been used even for one time. The best thing about off plan property is just this. The property you create has never been used before and you can customise it in your own way, create your own amenities that you want in your house plus, you can have the features that you know that this person in your family will require or you can create the latest design.

Risk in off plan properties 

You must know that risk is a must in any purchase that you make in Dubai. It’s the same for off plan properties. Continue reading this section to learn about the risk in off plan properties:

  1. Delayed completion

Many cases have been seen that developers don’t plan the projects properly and then the completion of that project delays for a long time. This can have big emotional and financial impacts on investors and owners. The people who planned that they will live on rent till the house completes so they won’t have to spend more money but when these projects get delayed they have to pay extra rent. When talking about investors they lose their profit that they could have earned if the projects would have been completed on time.

Author

  • Nieka Ranises

    Nieka Ranises is an automotive journalist with a passion for covering the latest developments in the car and bike world. She leverages her love for vehicles and in-depth industry knowledge to provide Wheelwale.com readers with insightful reviews, news, perspectives and practical guidance to help them find their perfect rides.

    View all posts

Leave a Comment

Your email address will not be published. Required fields are marked *