Investors can make a lot of money by investing in off plan properties in Dubai . Investing in off plan properties in Dubai can be very profitable. This is because property prices increase at every construction stage, making it easier to sell them when completed. Investors can buy off-plan properties at lower prices and sell them at higher prices after completion. Here are a few tips to help you find suitable off plan properties:
Research
There are many factors to consider when buying off plan property. Researching these factors will help you find the best investment and ensure it is worth your money.
For example, research the market to find out what prices other properties have sold for recently in that area of Dubai. You should also look at how much new properties are selling on the market and what different developers charge for their properties in comparison with one another.
If you want to buy a condo instead of a villa or apartment, then it’s important to research the developer well before making an offer on any particular property, as this will affect whether or not it gets accepted by them later down the line when you’ve agreed on terms with them through their sales team (and paid your deposit).
Investigate
Once you have decided to buy off plan properties in Dubai, the next step is to gather as much information about the project and its developer as possible. This will help you decide whether it is worth your investment or not. Here are some questions that you should ask yourself before purchasing an off plan property:
- What is the location of the property?
- Are there any amenities nearby?
- What does the design look like, and what type of architecture does it have?
- Is it under construction or ready to move into?
- How many units have been sold, and how many are still available for sale?
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Contact the developer
When you find off plan properties in Dubai that you like, the developer can guide you through the rest of the process and make sure that you get exactly what you want. They’ll help you navigate the right payment plan, mortgage options, and more.
Get a full knowledge of the project.
The first thing you should do is to get a full knowledge of the project of off plan properties in Dubai. This will help you decide whether it is worth investing in or not. The following are some of the things that need to be taken into consideration:
- Location: Check if the property is located in an area that has good connectivity, easy access to public transport, etc. Also, check if there are any plans for new developments coming up around this area in the future which might affect its value.
- Size: Find out how much space you will get by buying this apartment and what other amenities are provided, such as parking spaces, swimming pools, etc.
- Design: Is the design going to suit your lifestyle? Would you be able to maintain the property on your own, or would it require hiring someone else’s services?
- Amenities & Facilities: Make sure that there is proper security and all necessities like water supply and sewage disposal facilities available nearby before buying off plan properties in Dubai
Do your maths
The total cost of your dream property will depend on the following factors:
- The purchase price of the property
- Maintenance costs, including electricity and water bills, HOA fees, and other maintenance charges
- Taxes (in the UAE, this can be as high as 50% of your property value)
- Insurance premiums (this will depend on what kind of insurance you need and what type of building it is)
- Utility costs such as electricity and water bills (again, these vary depending on where you live within Dubai)
Look for exclusive offers and discounts
There is a lot of competition between developers, so you can get great discounts when you buy off plan properties in Dubai. It’s a great way to make your money go further and get ahead of the game by securing your dream property before it’s even built!
The best way to find exclusive offers is through the developer, so check out their website and social media pages for more info. They’ll often offer different incentives on different properties if they’re trying to sell them quickly – so keep an eye out for these too!
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Check payment plans and installments
The first step is to determine how much money you will need to make your payment. Most developers offer different payment plans and installments, some offering 60% of the cost in advance and 40% at handover (completion). If you buy a property for AED 1 million, you will be required to pay 60% as an initial down payment when both parties sign the contract. The remaining 40% will be paid in monthly installments over 10 years or more, depending on the developer’s terms and conditions.
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Conclusion
Undoubtedly, investors can make a lot of money by investing in off plan properties in Dubai. But, it is also important to know how you can find the best deals and get the maximum benefit from them. The above points will surely help you make your investment plans more fruitful.
