If you’re looking to sell or purchase off plan Properties in Dubai, you must have some questions in mind. Here are some tips that may answer all your queries related to buying or selling off plan properties in Dubai.
How to Sell Off Plan Properties in Dubai?
After paying a set percentage of the property value based on the SPA with the property developer, you can sell your off-plan property. It’s usually after you’ve paid 30-40% of the property’s value. Keep in mind that if the developer still has availability, your off-plan property in Dubai may face stiff competition, since developers often run attractive property offers these days. If you decide to sell, first research current market pricing for your home, then enlist the help of real estate professionals to sell it for you. — It’s sometimes worthwhile to pay a commission to a property broker in order to get your property noticed in the real estate market.
Why Invest in Dubai Off Plan Properties?
Once you’ve decided on a location and lifestyle, it’s critical to understand the advantages in terms of property value and return on investment. The nicest thing about buying off plan properties in Dubai is that it will appreciate in value quickly, especially if it is in a prime location. Taking advantage of today’s market as an investor is a good option. You can undoubtedly sell an off-plan house at a lot higher price if you buy one now and wait for the correct time to exit or resell it, especially when there is a strong opportunity in the market. Furthermore, purchasing an off-plan project in Dubai does not necessitate a huge sum of money because most off plan properties in Dubai provide favourable payment terms and incentives.
What Are The Government Fees?
Fees are applied when purchasing off plan properties in Dubai. Buyers and investors need to make a payment for the following fees such as Dubai Land Department (DLD) fee (4% of the total amount of the property), service charge (e.g. trustee fee), and the recent value-added tax (VAT). These fees are applicable to both UAE and foreign nationals. However, these charges are sometimes waived upon the intent of the developer or if there is ongoing promotion and deal with a particular off-plan project.
How Can Foreigners Purchase Off Plan Properties in Dubai?
Any person of any country, whether based abroad or a Dubai resident, can buy or own freehold properties in the city. In order to purchase off plan properties in Dubai, buyers and investors do not need to have any form of residence or comparable permit. Dubai Marina, Downtown Dubai, Jumeirah Village Circle (JVC), International City, and Palm Jumeirah are all popular freehold locations in Dubai. Both new and existing home buyers will benefit from these places.
Should First Time Buyers Go For Off Plan?
When compared to ready-to-move-in properties, buying off plan properties in Dubai allow investors to get a unit at a lower price. Off-plan properties in Dubai provide a terrific chance for first-time purchasers in terms of return on investment (ROI), income-producing assets (for a vacation home), and market value appreciation. These types of properties come with a variety of incentives and privileges, making it easier for first-time purchasers to enter the Dubai real estate market.
Which Areas Provide the Best Off Plan Properties in Dubai?
Fortunately for investors and end-users, Dubai has hundreds of off-plan projects that are both economical and luxurious. These developments are frequently found in the city’s most exclusive areas, near iconic landmarks, bizarre man-made islands, nature-inspired communities, and cosmopolitan living in the heart of Dubai. There are many good locations to purchase off plan Properties in Dubai that are appropriate for your lifestyle requirements. For example, beachside communities can be found on Bluewaters Island, Dubai Harbour, Jumeirah Bay Island, and the Palm Jumeirah. At Emaar South, Dubai Hills Estate, and Al Barari, you can live in a peaceful atmosphere. Urban off-plan projects in Business Bay, Downtown Dubai, and Dubai Marina, to name a few, are available if you want a city lifestyle.