The concept of investing in an off-plan property is at an all-time high in Dubai. An off-plan property is a home or building you buy before it’s complete, directly by the developer. Investing in off plan projects in Dubai can reap many benefits but at the same time, it could have certain risks attached to it. This blog will help you understand everything you need to know about Off-Plan Properties in Dubai so that you can make an informed decision in the future with respect to investing your money.
Are you or someone you know is looking to buy Off-Plan Properties in Dubai? Get in touch with us today for more information!
What is an Off-plan Property? An Overview
An off-plan property is a property under development that you can purchase directly from the developer or Truss Real Estate. The concept of an off-set property is essentially investing in a property is in the early stages of construction. Individuals typically rely on different sources of information to accumulate information about a construction project and make informed decisions while investing their money.
In Dubai, the purchase is mostly with a 10-20% down payment with the signing of the Sales Purchase Agreement. After this, an installment plan is provided to the client which is usually linked with the construction.
How Can One Invest in Off Plan Projects in Dubai?
It is not a hard task to invest in off plan projects in Dubai. However, you must still take some necessary steps to ensure that you are making the right decision. Here is what you need to do to buy an off-plan property in Dubai:
Conduct Adequate Research on the Dubai market
It is imperative to familiarize yourself with the real estate market in Dubai. This will allow you to have updated information about different areas and communities in Dubai.
Expect Frequent Delays
It is extremely common for buyers to face delays while purchasing an off-plan property in Dubai. A study has found that about 50% of projects have delays of up to a year while handing over projects. It is important to stay in touch.
Evaluate your Financial Condition
Initially, 20–80% of the total payment is require for all off-plan projects for sale. When the project is complete, the entire payment is a must. Investors most frequently use a 50/50 payment plan, wherein you pay 50% upfront and the remaining amount is paid in installments up till the completion of the project.
Discover Suitable Options
Explore various options in your preferred budget and locality. Talk with an expert to help narrow down your options and then select the property that is best aligned with your interests.
Take Possession
Once the project is complete, run a comprehensive and thorough check to ensure everything is up to the mark and well-functioning. After the necessary checks take possession and enjoy living in your brand-new home.
Top 5 Benefits of Investing in Off Plan Project in Dubai
Investing in off-set properties in Dubai can reap many benefits that could help you achieve a better lifestyle. Listed below are some of the many benefits that one will achieve from investing in an off-plan property in Dubai:
Save Money
After careful consideration of all options, buying a property at the lowest possible price will allow investors to save capital. This also allows one to maximize returns on one’s investment.
Sell Pre-Completion
It’s common for investors to sell off-plan property in Dubai right before the completion of the project. This is contingent on the fact that the market does well, and the project has proven to be a hit according to the market and the masses.
Reduce Upfront Cost
The lower the down payment is, the better and more viable the investment is for the investor. Payment plans vary from developer to developer.
Return on Investment
Effectively and efficiently use the return on investment by properly utilizing the property. Keep through checks on the functionality and development of your off-plan property.
Receive Brand New
We all have a knack for brand new stuff, investing in an off-plan property will mean receiving the property brand new with the most updated designs, technology, features, and amenities.
3 Potential Risks in Buying an Off-Plan Property To Keep in Mind
Any action and activity we conduct in our life comes with potential risk. Similarly Investing in an Off-Plan property can have potential risks that can be minimized with proper research before investing. Here are some of the potential risks involved with investing in off-plan properties:
Unforeseen Delays in Project Completion
It is no secret that big development projects often face delays in their completion timeline. The delays can be caused due to multiple reasons including supply chain disruptions, weather, labor strikes, or lack of capital. This delay can prove to be negative for the investor as this could mean delayed move-in dates resulting in emotional and financial distress.
Changing Market Conditions
A decrease in off-plan property prices can prove to be detrimental for the investors as it can result in a loss.
Unexpected Results
A big risk in off-plan property in Dubai is not getting what you expected in terms of quality and construction of the buildings and properties.
5 Documents That Are Required for Purchasing Off-Plan Property in Dubai
Documents needed for UAE off-plan purchase include:
Expert Guidance: Through off-plan property investments in Dubai, Truss Real Estate is ready to offer professional consultancy to overcome all potential obstacles.
Promising Projects: We help in singling out the best off-plan ventures, which would be helpful to your investment plans.
Maximized ROI: Our Expert knowledge will help make sure you get the most out of your money and possibly the least amount of danger.
Market Insights: At Truss Real Estate, we present you with detailed market reports to enable you make the right choices.
Strong Developer Network: We have also gotten into agreement with top developers so that you can enjoy premium deals at your disposal.
Tailored Advice: We provide services according to one’s requirement and choice in investment.
Smooth Investment Journey: Whether you are new to the investment or have plans for diversification, Truss Real Estate guides and assists you in successful investment process in off-plan market of Dubai.
Final Thoughts…
Investing money is always scary and risky, but when invested correctly can also reap many benefits. This step-by-step guide will allow you to understand the ins and outs of off-plan property in Dubai. Conducting thorough research will enable you to make the best decision on how to invest your money to optimize profit and get the property of your dreams.
Off Plan Projects in Dubai: A Step-by-Step Guide
The concept of investing in an off-plan property is at an all-time high in Dubai. An off-plan property is a home or building you buy before it’s complete, directly by the developer. Investing in off plan projects in Dubai can reap many benefits but at the same time, it could have certain risks attached to it. This blog will help you understand everything you need to know about Off-Plan Properties in Dubai so that you can make an informed decision in the future with respect to investing your money.
Are you or someone you know is looking to buy Off-Plan Properties in Dubai? Get in touch with us today for more information!
What is an Off-plan Property? An Overview
An off-plan property is a property under development that you can purchase directly from the developer or Truss Real Estate. The concept of an off-set property is essentially investing in a property is in the early stages of construction. Individuals typically rely on different sources of information to accumulate information about a construction project and make informed decisions while investing their money.
In Dubai, the purchase is mostly with a 10-20% down payment with the signing of the Sales Purchase Agreement. After this, an installment plan is provided to the client which is usually linked with the construction.
How Can One Invest in Off Plan Projects in Dubai?
It is not a hard task to invest in off plan projects in Dubai. However, you must still take some necessary steps to ensure that you are making the right decision. Here is what you need to do to buy an off-plan property in Dubai:
Conduct Adequate Research on the Dubai market
It is imperative to familiarize yourself with the real estate market in Dubai. This will allow you to have updated information about different areas and communities in Dubai.
Expect Frequent Delays
It is extremely common for buyers to face delays while purchasing an off-plan property in Dubai. A study has found that about 50% of projects have delays of up to a year while handing over projects. It is important to stay in touch.
Evaluate your Financial Condition
Initially, 20–80% of the total payment is require for all off-plan projects for sale. When the project is complete, the entire payment is a must. Investors most frequently use a 50/50 payment plan, wherein you pay 50% upfront and the remaining amount is paid in installments up till the completion of the project.
Discover Suitable Options
Explore various options in your preferred budget and locality. Talk with an expert to help narrow down your options and then select the property that is best aligned with your interests.
Take Possession
Once the project is complete, run a comprehensive and thorough check to ensure everything is up to the mark and well-functioning. After the necessary checks take possession and enjoy living in your brand-new home.
Top 5 Benefits of Investing in Off Plan Project in Dubai
Investing in off-set properties in Dubai can reap many benefits that could help you achieve a better lifestyle. Listed below are some of the many benefits that one will achieve from investing in an off-plan property in Dubai:
Save Money
After careful consideration of all options, buying a property at the lowest possible price will allow investors to save capital. This also allows one to maximize returns on one’s investment.
Sell Pre-Completion
It’s common for investors to sell off-plan property in Dubai right before the completion of the project. This is contingent on the fact that the market does well, and the project has proven to be a hit according to the market and the masses.
Reduce Upfront Cost
The lower the down payment is, the better and more viable the investment is for the investor. Payment plans vary from developer to developer.
Return on Investment
Effectively and efficiently use the return on investment by properly utilizing the property. Keep through checks on the functionality and development of your off-plan property.
Receive Brand New
We all have a knack for brand new stuff, investing in an off-plan property will mean receiving the property brand new with the most updated designs, technology, features, and amenities.
3 Potential Risks in Buying an Off-Plan Property To Keep in Mind
Any action and activity we conduct in our life comes with potential risk. Similarly Investing in an Off-Plan property can have potential risks that can be minimized with proper research before investing. Here are some of the potential risks involved with investing in off-plan properties:
Unforeseen Delays in Project Completion
It is no secret that big development projects often face delays in their completion timeline. The delays can be caused due to multiple reasons including supply chain disruptions, weather, labor strikes, or lack of capital. This delay can prove to be negative for the investor as this could mean delayed move-in dates resulting in emotional and financial distress.
Changing Market Conditions
A decrease in off-plan property prices can prove to be detrimental for the investors as it can result in a loss.
Unexpected Results
A big risk in off-plan property in Dubai is not getting what you expected in terms of quality and construction of the buildings and properties.
5 Documents That Are Required for Purchasing Off-Plan Property in Dubai
Documents needed for UAE off-plan purchase include:
How Truss Real Estate Can Help
Final Thoughts…
Investing money is always scary and risky, but when invested correctly can also reap many benefits. This step-by-step guide will allow you to understand the ins and outs of off-plan property in Dubai. Conducting thorough research will enable you to make the best decision on how to invest your money to optimize profit and get the property of your dreams.