FAQs
Are off-plan properties more expensive than ready ones?
No, off-plan properties are usually more affordable.
What if I miss payments?
Developers can charge penalties or cancel contracts, leading to reselling the property.
Can I sell before completion?
Yes, but some developers may restrict resale until certain payments are made (usually 40% of the payment).
Are there project delays?
Projects might face delays. Payment schedules are tied to construction milestones. If the Dubai Land Department (DLD) does not confirm that the project has reached a specific completion percentage as agreed upon in the payment schedule, the buyer is not obligated to make the payment. Thus, protecting buyers from off-plan project delays.
What are the costs associated with Off-Plan Purchases?
You must pay the 4% DLD registration fee and approximately AED 1,000 Oqood fees within 30 days of the initial deposit.
Do I need legal assistance to buy an off-plan property?
The off-plan property market in Dubai is heavily regulated by the government, ensuring a straightforward and transparent process for buyers. The legal framework governing off-plan properties is well-established, with clear guidelines provided by the Dubai Land Department (DLD). As a result, pre-legal assistance is generally not required when purchasing off-plan properties. Buyers can confidently navigate the process with the assurance that all transactions are legally protected, and necessary documentation is handled directly through the developer and the DLD. However, we recommend consulting with a legal advisor if you seek additional clarity or have specific legal concerns.