Guide to Buying an Off Plan Property in Dubai
Offplan properties in Dubai offer investors cash flow flexibility as they are sold with payment plans which are linked to the construction of the property. With a wide range of impressive offers available, our consultants can help you to navigate the plethora of options including post-handover payment plans. These give investors and end users a unique opportunity to purchase a property that can be paid for after receiving the keys.
This type of sale also gives buyers the chance to take advantage of capital appreciation as the value of their property is likely to go up during the construction phase. And with Dubai’s strong economy and growing population, there is every reason to believe that prices will continue to rise in the future. So if you’re looking for an investment that will give you both cash flow flexibility and the potential for capital gains, off-plan properties in Dubai are definitely worth considering.
Currently, the UAE is home to 8.84 million expatriates. All nationalities are welcome in Dubai, and there are plenty of opportunities for those who want to purchase a property. Despite having or not having a UAE residency, all foreigners are able to purchase a property in Dubai. The properties which are available for sale to foreigners must be situated in the Dubai Freehold Communities. This makes Dubai an attractive destination for those who are looking for a place to invest their money. With so many different nationalities represented, Dubai is a cosmopolitan city that has something to offer everyone.
There are currently many impressive offers in the market with developers offering staggered payment plans which are linked to the progress of construction. Some developers even offer post handover payment plans, which allow investors a fantastic and unique opportunity to purchase a property which they can continue payments for after receiving the keys.
1. Budget Accordingly
There are currently many impressive offers in the market with developers offering staggered payment plans which are linked to the progress of construction. Some developers even offer post-handover payment plans, which allow investors a fantastic and unique opportunity to purchase a property that they can continue payments after receiving the keys.
Consider your budget and long-term goals when making your decision, as well as any risks associated with the investment. With careful planning, you can take advantage of these unique opportunities and purchase the property of your dreams.
2. Deciding the type of property you want and where
Purchasing a property is a huge investment, both financially and emotionally. It’s important to take the time to understand what you want and need from your home before beginning the search. For some people, budget is the defining factor. Others may prioritize location, preferring to be near the water or in the heart of the city. Some buyers are looking for a luxurious vacation home while others want a simple and affordable place to live. Another decision to make is whether you want to purchase a villa or an apartment. No matter what your budget or lifestyle, there is a perfect property waiting for you in Dubai. With so many options available, it’s important to take your time and find the one that best suits your needs. With a little patience and research, you’re sure to find your dream home in this vibrant and exciting city.
Determining if you want an off-plan property that you can pay towards slowly or a ready property is also an essential first step. It is important to do research and be familiar with the developer and community you are purchasing into. A good indicator of what to expect is to look at the developer’s track record as well as past projects. Our expert team is here to provide you guidance throughout this entire process and familiarise you with developers, developments and master developments
3. Unit Selection
Once you narrow down on the development you desire the next step is to select the right unit for you. It is important to consider aspects like the size and layout as well as the floor and view. For some people, the orientation and positioning of the unit are extremely important factors too. It is essential at this stage to be aware of what is included with the property such as white goods and furniture.
The transaction is very straightforward once you have selected your dream property. You are required to sign off on the floor plan, the payment plan and the developer’s offer to purchase letter. At this stage the down payment must be paid, this can be paid via credit card, online bank transfer or cheque to the developer. There is a 4% Title Deed fee payable to the Dubai Land Department which must also be paid (unless waived as part of a deal). The developer will require a copy of your passport, visa page and Emirates ID if you are a UAE resident. The developer will then follow up with your contracts and you will be obligated to continue the payment plan as the new owner.
Get in touch with us today to learn more about what we can do to help you purchase your dream property in Dubai.