When it comes to capitalizing on the property market, buying an off plan property in Dubai in Port de La Mer apartments or Madinat jumeirah Living apartments certainly has its advantages. When undertaking any financial venture, it’s integral to know as much information as possible. An off-plan investment is one which has yet to be constructed therefore purchasers usually make their decisions based on projections and renderings. On the other hand, a ready built home is the one which has been fully constructed and is ready for the potential purchaser. If you are contemplating making an off-plan acquisition, here are the rewards that you’ll reap.
1: High Rental Yields
One of the major driving factors which steer likely buyers into making this purchase is the fact that they’ll be able to relish in high rental yields from their investment. With a continual incursion of expatriates entering the city, there will always be a need for housing choices and this trend is not decelerating down anytime soon. Hence, a high return on a relatively low price (when compared to the alternative) is a win-win.
2: Capital Growth
With Dubai being one of the swiftest growing cities in the world, your initial venture is set to make a promising return. Buying an off plan property in Dubai therefore features attractive price points as you’ll be able to obtain a current market price even though it would be completed in the future. Therefore, if the market continues to grow, then your estate would also appreciate in value but wouldn’t affect the upfront cost. Therefore, if it is your intention to sell prior to the end of the project, then you’ll receive a considerably high return on your financial investment.
3: Protection Laws In Favor Of the Purchaser
While it is indeed a fact that off-plan properties can be a risky endeavor, the government of the United Arab Emirates takes significant measures to ensure that the buyer is protected during this process. The RERA as well as the Dubai Land Department actively seek to protect the buyer against delays, terminations as well as fraud. For instance, to protect against delays, developers can only access funds from approved banks providing that the necessary stages have been completed as promised.
By purchasing at the earliest moment, you’ll also have the chance to choose the unit which best suits you and some developers even go a step further and allow custom features.
Off plan purchases will always remain an attractive business venture for buyers as there isn’t a wrong or right way and the positives always outweigh the negatives.