Dubai is quickly developing into an international hub for business. The growing tourism and booming economy push for the construction of new properties to sustain the city’s rapid expansion. Now is the time to invest in off-plan projects in Dubai and secure a long-term asset with a high potential for a profitable return on investment.
Here are some of the benefits that you will enjoy if you consider investing in an off-plan project in Dubai:
1: Off-plan properties in Dubai are affordable
If you want to purchase a property in Dubai, your best choice is to invest in an off-plan project. Experts estimate that it will cost you up to 30% less to buy a house that is only in its project phase than one that is already up and inhabitable.
2: You don’t need to have all the money
One of the best aspects of investing in off-plan projects in Dubai is that you do not have to provide the entire cost of your future property. The UAE Central Bank can cover up to 50% of the investment through a loan-to-value calculation that allows you to deposit only the remaining half of the necessary expenses.
Additionally, some property developers might also ease the terms of the deal for your benefit. In most cases, they will only ask for a 30% deposit of the entire cost while dividing the rest of the expenses in a long-term installments plan that should end at the same time with the construction.
3: You get to work with trustworthy developers
Contrary to other top-tier cities’ real estate sectors, the Dubai property market is safe for foreign investors, and it benefits legitimate investors who want to help with the city’s development. In this regard, you are almost sure of working with trustworthy developers who respect their deals and do not take advantage of investors with little to no experience.
4: You benefit from expert advisors
If you have your mind set on investing in off-plan projects in Dubai, you will need to apply for the services of a real estate brokerage firm with a solid expertise in the local market. The right agent can give you precious, hard-to-find information and advice about any deal you wish to strike.
With the help of a real estate broker, you can verify the financial potential of your investment, the risks you need to take, and how soon you will get to see a return on your investment too.