Buying off-plan property is very attractive because they are offered at a lower price when compared to completed projects. Easy payment plans also make it a great option as it is affordable. There are different payment schemes for different properties depending upon the area where the off-plan property is located.
U.A.E has a booming economy; therefore, real estate investments give a very good return on investment or ROI. Generally, the value of the property increases once the project is completed. For those planning to sell the Off-Plan Property after completion, they will receive gains on capital after completion.
There are many factors that lead to an increase in the value of the property: these include the popularity of the neighbourhood or the locality. If the area surrounding the Off-Plan Property is still under construction but it turning into a friendly community, then the value of the property will increase after the completion of the property.
One of the main reasons that people invest in Dubai is its rental income. The number of expats entering the U.A.E in search of work keeps increasing, due to this there is always a demand for housing in Dubai. So, if one buys an Off-Plan Property and plans to sell it, there are high chances the investor will earn a higher rental income. This will give the investor a firm base in U.A.E and also increased financial security.
Laws of Protection for buyers in Dubai- Since investment in Off-Plan Properties is quite risky, DLD (Dubai Land Department) and RERA (Real Estate Regulatory Authority) have taken steps to protect investors from cancellations, delays, or fraud. One rule is that investors must make payments at banks approved by DLD. Developers can access the money only once the Off Plan Property has completed a certain level of completion. Such laws increase the investor’s confidence in Off-plan Properties.
The Dubai Off Plan Property market is buzzing with a lot of activity. This includes Downtown Dubai and the new communities being built on the outskirts of Dubai. It doesn’t matter if it’s an Off-Plan apartment or villa, at any location, price, or type of property, Off-plan investors have a lot of variety to choose from.
In Conclusion, Off-Plan Properties are a very popular choice for investors. There are various advantages of buying an off-plan property, these include Low prices and paying at your comfort, gains on capital, higher rental yield, laws of protection for buyers, and a lot of variety of Off-Plan Projects.