Dubai is a refuge for those looking to spend their hard-earned money in the real estate market, thanks to its booming economy, stable political infrastructure, and attractive real estate returns. Dubai off-plan properties investments, in particular, are highly popular with investors in the region.
The real estate market in Dubai has attracted a lot of interest from both local and foreign purchasers since the introduction of ex-pat real estate properties in 2002. In 2017, Dubai real estate sales hit a nine-year high, with over 25,000 apartments sold. The trend appears to be continuing, with additional real estate developments and announcements.
In recent years, the real estate sector in the United Arab Emirates has been steadily declining. Property values in prior years decreased between 25% and 33% until the end of the preceding year, according to S&P Global rating data. The future, however, may not be as grim as originally assumed.
Dubai is once again a feasible investment choice for domestic and global investors, thanks to a new policy by the Dubai Land Department government and the projected stability of economic parity for the real estate industry in the next years. This is especially true of the off-plan city developments that will be built in the future years.
Market pricing expectations have been harmed due to an abundance of low-demand real estate construction in the local economy. The current low-cost benchmarks, on the other hand, are highly appealing to prospective investors looking to get into the real estate market. Off-the-shelf developments, such as Emaar Properties’ Bayshore at Creek Beach, are now able to deliver attractive returns on their fixed market price.
Due to the flood of visitors and tourists each year, planned developments like these, which are located on the famed Dubai Creek Harbor, tend to yield modest returns. The residences on the Emaar Beachfront in Dubai Creek Harbor have sparked a lot of interest among investors.
Local developers are providing appealing payment mechanisms in addition to building new off-plan developments to attract more investors to Dubai.
Local banks are employing a more liberal approach under new government laws to allow for more property acquisitions to balance the market’s excess.
New housing and retirement visas are also being used to make the property buying process easier in the next year. With all of these incentives in place to boost the local real estate market, now is the moment for all potential investors to consider purchasing a home in Dubai.
Finally, we are describing the benefits that are attracting investors.
More options for the first pick
The investor has the option of selecting the property first when purchasing an off-plan property. If this is the case, the chosen property will almost certainly be the finest. Buyers of older houses, on the other hand, generally get the rest.
One of the most significant benefits of purchasing property off plan is that it allows investors to save money. How is this even possible? This is feasible since incomplete products are frequently available at a reduced cost.
Purchasing real estate off-plan properties allows purchasers to save money for their future houses for a longer length of time. Buyers and developers generally agree on payment schedules.
Decide on a price
When purchasing an off-plan house in Dubai, the price is locked in. This means that if the market price of the property rises, the buyer will not be required to pay more.
The buyer’s choice of color is one of the most significant advantages acquired in advance. If you purchase the property off-plan early enough, the developer will almost certainly consider your color preferences.
Lawn. 8 in fiduciary accounting for real estate development in the Emirate of Dubai, starting from 2007. Developers intending to sell off-plan properties in Dubai as part of a development project must create a separate escrow account for the project with a guaranteed agent (bank / financial institution) certified by the Dubai Land Department, according to the legislation (DLD).
It is brand new
People prefer to use new items to those that have been used previously. Not only will you move into your new house as an off-plan property buyer in Dubai, but your renters will be willing to pay extra for a brand new property as well.
Value has risen
Off-plan property is safer to trade than built property since the value of the property rises over time while the payment remains constant.
Sell at a higher price
An off-plan house has a reduced cost of living, and if the buyer finds it difficult to maintain it, it may simply be sold for a greater price.
A small payment is required
A down payment on an off-the-plan property is substantially less than on a completed house.
Binayah Real Estate Dubai is one of the leading real estate companies in Dubai. We provide expert ervices for Property Management in Dubai, tenant management in Dubai and residential and commercial buildings and finance management services. Visit us for more info or call at 800-BINAYAH (2462924).