For several reasons, off plan Dubai project purchases have seen popularity with first-time buyers and adept investors. First, those buying Dubai off plan projects will enjoy discounted prices instead of ready properties. Meanwhile, the demand value for the off-plan property could grow. At the same time, the buyer would still only pay the 'locked-in' price, thus profiting from outstanding returns when they want to sell.
There is also a prosperity of choices for Dubai off plan projects, spearheaded by premium developers such as Emaar and Dubai Properties. Investors, therefore, have a variety of off-plan new properties in Dubai to pick from to fit their budgets and preference. In addition, with the rules and restrictions RERA sets to secure buyers, off-plan properties can be a lucrative opportunity for homebuyers and investors.
Suppose you're searching for off plan apartments, off plan villas, or townhouse communities. In that case, the latest Dubai properties off plan projects provide a wide range of options. Potential homebuyers and investors can consider the latest off-plan projects in Dubai. Such as Canal Front Residences, a project by Meydan that will be a flashy addition to the current list of luxury apartment buildings in Dubai. In addition, Myrtle by Meraas at Central Park in City Walk. This project is probably one of Dubai's most in-demand upcoming off-plan projects, especially if you are looking for 1 or 2-bed apartments.
Following on our list of new off-plan properties in Dubai is Jadeel by Meraas. Offering 1, 2, 3, and 4-bed luxurious apartments, it is suitable for the fans of Arabesque architecture. In addition, the project's proximity to Burj Al Arab makes it an appealing option for investors interested in lucrative buy-to-let properties that offer breathtaking views.
Address The Bay is the next Emaar Project of upcoming off-plan projects in Dubai. Located at Emaar Beachfront, it's excellent for those who favor beachfront living and looking for off plan investment in Dubai. The incredible views of the mega yachts and the blue waters are enjoyable daily. Buyers can obtain luxury apartments or duplex penthouses in Address The Bay, and residents can enjoy an infinity pool, a private beach, and hotel service.
In terms of townhouses, this new development may fit the bill if you're particularly searching for off-plan villas and townhouses in Dubai. The Pulse Beachfront is ideal for raising a family by the beach. Green areas and state-of-the-art facilities surround it. In addition, there will be a host of amenities on offer, including a basketball, tennis, pool, kids' play area, gym, park, and more.
Investors can choose from either 3, 4, or 5-bed villas or townhouses. Dubai South's profile as a locality has grown dynamically. Yet, there is room for growth. As a result, off plan property investment Dubai South is promising.
Off-plan developments are under-construction projects available for direct purchase from the developers. These projects usually come with comprehensive payment plans spread across 5 to 7 years, both before and after handover.
The off plan properties are comparatively cheaper than those already under construction. Nevertheless, the prices of the off plan properties also depend on the location where it is supposed to be constructed.
You must know that you will agree to buy and make payments for a property that does not exist yet. You can review the developers' construction plans, layout, and design.
Some of the most popular developments with users on Driven Properties are AKOYA Oxygen, Jumeirah Village Circle (JVC), Dubailand, Dubai South, Downtown Dubai, Dubai Hills Estate, and Business Bay, MBR City, Palm Jumeirah, and Arabian Ranches.
Purchasing an off plan property is a good investment as you get the property at a competitive price. Some people even invest their money in off-plan properties for more than one property.
Dubai is one of the safest cities in the world. You do not need to think twice before investing your hard-earned money in an off plan property in Dubai. All you need is to get in touch with the right developer.
Dubai’s real estate market has a booming off-plan property part. As a result, the emirate’s vast portfolio appeals to numerous interests, cementing its profile as a top international destination for real estate investment. Dubai list offers an expansive range of options, whether you’re looking for apartments, villas, or townhouses to buy.
Since Dubai spread its freehold property market, there has been a constant collection of high-quality real estate projects for potential foreigner investors and buyers. Any person of any nationality, whether based overseas or a resident can purchase or own in any freehold properties in Dubai.
You get a mortgage for an off-plan property. However, it is more challenging to obtain compared to traditional mortgages. For example, mortgages for off-plan properties in Dubai have a maximum loan-to-value ratio of 50%, which can only be done once the buyer has paid off 50% of the property. Banks will also have conditions on which type of properties and projects they are willing to finance when it comes to off-plan properties.
Yes, first-home buyers can buy off plans to save expenses and relieve themselves from the pressure of constructing their house. If you are looking for the right property investment or a home in the future, you can browse on the list of Driven properties in Dubai or simply get in touch with us to find out more information about these projects.
Off-plan properties in Dubai can be sold by the buyer before and after the completion of the project. Yet, suppose an owner wants to re-sell their off-plan property before it's completed. In that case, they must meet the requirements and measures set by the developer.
Suppose the market is well-performed and proved popular. In that case, owners can sell off their off-plan property contracts before the completion of the projects and at a considerable profit.
First, you need to contact the developer and figure out how much must be paid off of the property to get a sale No Objection Certificate (NOC). The same percentage or figure is usually about 30-40% but will differ for various developers in Dubai. Then, the new homebuyer pays the seller an equivalent amount to what they've paid off to the developer (+/- any difference agreed on). Next, the new buyer will take over the current payment plan of the off plan property and pay all coming due instalments straight to the developer.
You only need to have a little money to purchase an off-plan property. For example, some projects' payment terms allow you to pay just 10% and move in, 50% during construction, and 50% post-handover. Specify how much the initial payment is and the other fees, such as government fees, service charges, and VAT.