Off Plan Properties In Dubai

Off-plan is a property that is yet to be built. While investing in off-plan property may not seem like an obvious choice, it can be one of the most lucrative investments. When selected well, off-plan properties yield higher returns than completed ones. When it comes to architectural and design trends, Dubai evolves quickly and you’ll notice significant improvements in upcoming projects.

Why Choose Search Gulf Properties To Help You Select The Right Off-Plan Property?

Binayah Real Estate was established in 2007, and since then we have been top ranked and awarded by all of Dubai’s most elite developers. Emaar, Meraas, Damac, Sobha and others have top ranked Binayah year after year. Our track record speaks for itself, as we have always made our client’s ROI a priority with every purchase. You can trust us to apply our relevant market expertise to analyze and advise on Dubai’s best property investments.

We will also advise clients on available payment plans and attractive interest rates that are available for clients of any budget. Our back office infrastructure is built to accommodate international clients and payments in various currencies, including cryptocurrency. Yes! You can buy Dubai property with Bitcoin!

Attractive Rental Income

Rental income has made significant inroads in the real estate market in Dubai. With expats making their way steadily into the country, the demand for housing has only increased. Rental income has remained steady despite the up and down fluctuation in Dubai’s property development sector. If you own an off-plan property, expect to make high rental yields, ensuring you can enjoy financial stability in the city.

Real Estate Laws

Dubai has off-plan property laws with several measures put into place by the Real Estate Regulatory Authority (RERA) to ensure buyers are protected in their off-plan property deals. These regulations have reinforced confidence in the off-plan property market and buyers are more interested in making investments before projects reach completion.

Popular Spots

Some of the popular areas to invest in off-plan properties include Palm Jumeirah, Downtown Dubai, Jumeirah Village Triangle, Dubai Creek Harbour, Silicon Oasis and Business Bay to name a few. Binayah Real Estate has direct ties to major property developers in Dubai namely, Emaar, Damac, Nakheel, Dubai Properties, Meydan Group, Meraas and Dubai Holding. We will assist our clients in the process of purchasing an off-plan property from start to finish. We take on the complete process of securing you the best property deal with flexible payment plans and profitable investments.

Benefits In Brief Of Off-Plan Property In Dubai

• Affordable prices compared to fully constructed units
• Flexible payment plans
• Lower upfront costs
• Higher capital gains once the property is completed

How To Maximize Profit?

1. Purchasing Early

Prices never remain low for long, and as a property’s construction process begins, its price begins to rise as well. In the Real Estate market, one of the best times to purchase a property is during the earliest stages of development when prices are extremely competitive, but are already beginning to rise, because it is the earliest investors who get to experience the highest returns.

2. Purchasing The Best Units

Purchasing early also allows investors to choose the most wanted and valuable properties on any given development. The best units are the ones that offer the highest capital appreciation in the smallest amount of time and can demand the greatest rental incomes.

3. Price Increases As Development Matures

As the project reaches its construction phase, the value of the units begins to increase. And when a completed show home is available for viewing, buyers often feel like they are taking less of a risk as they now do not need to rely entirely on simulations and plans.

4. Price Appreciates As More Units Sell

As the number of units that are sold increases, the prices of the remaining units rise as well. Units are also sold faster, when buyers are able to physically see them. Often a times, there is a phase payment structure in place which mirrors the increasing value of the properties. To an early buyer or investor, this means that should you decide to sell your property, it will amount to a lot more now and reap higher returns, than when you made your initial purchase and paid the deposit.

Investors should choose and decide very carefully while purchasing an off plan property, making sure that the location of the property reflects a quick resale value and has a high rental demand for their buy to let option. For off plan investments, even in the worst case scenarios, if the property cannot be sold upon completion, the final balance which is due can sometimes be financed by banks within the UAE as the project nears its completion. Furthermore, the rental income earned, can be used to pay off the finance of the loan as well as increase eventual returns on investment.

FAQs About Off-Plan Property

1. What Does The Term “Off Plan Property” Imply?

A property that has not yet had a structure built on it is known as an off-plan property.

2. Why Is It A Good Idea To Buy Off-Plan Property In Dubai?

Once you have decided on a location and lifestyle, it is critical to understand the advantages in terms of the value of the property and return on investment. The nicest thing about buying an off-plan property is that it will appreciate quickly, especially if it is in a prime location. Taking advantage of today’s market as an investor is a good option. You can surely sell your off-plan house at a much higher price if you buy it now and wait for the correct time to exit or resell it, especially whenever there is a strong opportunity in the market. Furthermore, purchasing an off-plan project in Dubai does not necessitate a significant sum of money because most off-plan ventures in Dubai have advantageous payment terms and agreements.

3. Is It Possible For A Foreigner To Buy Or Own An Off-Plan Home In Dubai?

Any person of any country, whether based abroad or a Dubai resident, can buy or own freehold properties in the city. In order to purchase an off-plan property in Dubai, buyers and investors do not need to have any form of residence or similar permit. Downtown Dubai, Dubai Marina, International City, Jumeirah Village Circle (JVC), & Palm Jumeirah are all popular freehold locations in Dubai. Both new and established homeowners will benefit from these places.

4. Is It A Smart Option For First-Time Buyers To Buy Off-Plan?

When compared to ready-to-move-in properties, owning an off-plan property enables investors to get a unit at a lower price. Off-plan properties for sale in Dubai provide a fantastic chance for first-time buyers in terms of return on investment (ROI), revenue assets (for a vacation home), and market value appreciation. These types of properties come with a variety of incentives and privileges, making it easier for first-time purchasers to enter the Dubai real estate market.

5. How Can You Get Financing For An Off-Plan House In Dubai?

The maximum financing during construction is 50%, and off-plan properties are often less expensive than ready-to-move-in properties. When you pay half of the purchase price, the loan is preapproved at the time of the application and is assured to be paid off at the end, regardless of the person’s financial position. After investing 50% for off-plan property, you can cash out 25% to 30% of your investment. If the value of the property has increased during construction, you can borrow 75 percent to 80 percent of the property’s value and withdraw more cash.

This procedure necessitates a revaluation of the property and a reapplication of the mortgage. It is also possible that if you are satisfied with the numbers and would want to obtain cash at a low mortgage rate. It is essential that you select a plan with which you are satisfied and committed, as this will allow you to save money or explore additional options after the home is done.

6. Is It Possible To Sell An Off-Plan Property Before It Is Completed?

Yes, you can sell an off-plan property in Dubai before it is completed.

7. What Are My Options For Selling An Off-The-Plan Property Before It Is Completed?

To obtain a selling No Objection Certificate, the first step is to call the builder and determine how much must be paid off the property (NOC). The precise proportion or ratio varies by the developer in Dubai; however, it is normally about 30-40%.

8. What Is The Procedure For Selling An Off-Plan Property?

The new buyer pays the sellers a sum equal to what they paid to the developer (plus any agreed-upon difference). The new buyer will then take over the off-plan property’s existing payment plan and pay any future due instalments directly to the builder.

9. Which Dubai Neighborhood Has The Nicest Off-Plan Properties?

Luckily, for investors & end-users, Dubai has hundreds of off-plan projects that are both economical and luxurious. These developments are frequently found in the city’s most exclusive areas, near iconic landmarks, bizarre man-made islands, nature-inspired communities, and cosmopolitan living in the heart of Dubai. Many good locations in the city with off-plan projects that are appropriate for your lifestyle requirements. For example, beachside communities can be found on Dubai Harbour, Bluewaters Island, Jumeirah Bay Island, and the Palm Jumeirah. At Emaar South, Dubai Hills Estate, and Al Barari, you can live in a peaceful atmosphere. Alternatively, if you prefer a city lifestyle, there are urban off-plan projects in Downtown Dubai, Business Bay, and Dubai Marina, to name a few.

10. What Is The Minimum Amount Of Money Required To Purchase An Off-Plan House In Dubai?

Real estate developers in Dubai are constantly coming up with new ways to entice more investors. In fact, purchasing an off-plan property does not necessitate a big sum of money. Look at the payment conditions for these projects (e.g., pay only 10% & move in, 50% while construction and 50% after handover, etc.) and figure out how much the first payment, as well as other expenses like government taxes, service changes, and VAT, would cost.