Off-Plan Properties
What is an Off-Plan Property?
Off-plan properties are bought directly from the developer and are presently under construction. Off-plan real estate can be in any stage of development, from early stages of planning to completion.
Buying an Off-Plan Property
Buying off-plan properties in Dubai are ideal for investors looking to secure prime units seeking easy payment plans and with no agency fees. The main benefits include a 12-month warranty for buyers, as the homes require no upgrades or repairs, high return on investment (ROI) and great capital appreciation, as well as a consistent stream of new opportunities that ensures abundant options to select from. Dubai’s Real Estate Regulatory Agency (RERA) enforces escrow accounts and guidelines to safeguard purchasers in the off-plan sector, making it a secure investment hub for international buyers.
Step-by-step guide for purchasing off-plan properties
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Research the Market:
Evaluate the Dubai real estate market, understand the different neighborhoods, property types, and price ranges. -
Hire a Real Estate Agent:
Find a licensed and reputable real estate agent who can assist you in the property search and negotiation process. Agents get their commission from the developer in off-plan properties. -
Check Various Projects:
Thoroughly explore a variety of real estate projects and locations to find the property that best suits your needs and preferences. -
Conduct Due Diligence:
Review the property’s legal documents, conduct inspections, and ensure the property is free from any encumbrances or issues. -
Check different payment plan options:
Each developer offers different payment plans for their projects. Review the options to find the plan that best suits your financial needs. -
Finalize the Contract:
Complete legal formalities, including signing the Reservation Form, SPA (Sales and Purchase Agreement), and verifying the escrow account. -
Complete the Purchase Process:
Arrange for the transfer of funds, sign the final documents, and complete the property registration process with the Dubai Land Department.