Dubai off plan properties typically means purchasing a property during the construction of the building process. It’s usually purchased at a discounted rate to the actual value of the completed project, which makes it attractive to property investors. One of the main reasons why investors choose to buy Dubai off plan properties is the profitability factor it brings even before the project reaches its completion.
Buying an Dubai off plan properties has its own risks and rewards. The main benefit is a lower price. Developers usually offer between 10% to 30% lower prices for off plan and under construction properties. The closer to completion, the higher the price.
What is an Off Plan Property?
Off plan is a property before a structure has been constructed on it. They are the best opportunity to acquire the newest and most exclusive properties in Dubai through which investors can reap a handsome amount of profit. Several New Dubai off plan properties are in development throughout the city offering exciting projects to invest in. Some are already established and popular districts, while others are part of upcoming projects.
Ever since Dubai opened its freehold property market for expats just over 15 years ago, the city has become home to an incredible and unbelievable number of real estate projects. With the huge number of Dubai off plan properties up for sale, it gets a bit confusing when it comes to deciding where to invest your hard-earned money. You need a proper guide and some tips that come in handy while identifying the best Dubai off plan properties to look for.
How to Identify the Best Dubai Off Plan Properties?
Here we have prepared a comprehensive guide to identify the best Dubai off plan properties. You can make a secure investment by choosing the right property at the right time.
First tip is not to look only at the property ticket-price. Make sure to know the price per Sq.ft. because buying a low-ticket price property, does not mean that you are getting a good price.
Understand the value proposition of the project you are buying in, then ask yourself, “Do I want to pay a premium amount for this value.”
It is NOT advised to buy during the project launch because sometimes developers do not launch the good units at the start and keep them to introduce at higher prices when the project is successful and is gaining momentum.
Understand what you pay for. Check that you are paying for the Net Area which includes the liveable / internal area and the balcony? Or, you are paying for the Total Area which includes the Net Area plus the utility area.
If a developer has achieved success in a few projects, it does not necessarily mean that the developer will continue to succeed in all its projects. Always make sure to do your complete homework and research when dealing with the developers directly, or consult a reliable property expert for Dubai off plan properties.
Make sure that the property developer you are considering and the Master Developer of the project are on the same page and there are no conflicts between them. If they are not on the same page, your investment may not be as fruitful as you planned it to be.
Never go directly to a property developer for Dubai off plan properties. Instead, use a trusted property agent. Bypassing agents means missing opportunities because a good real estate agent is aware of all available projects and property offers that you might miss if you go directly to the developer’s office.