Guide To Investing

Decide what you are looking for

When purchasing off-plan, you won’t be able to physically inspect the property, but this type of investment offers several advantages:

Best Price: You have the chance to select the best unit at the most affordable price in the project, maximizing your investment returns.

Profit Potential: Investors can sell before the project is completed, often at a significant profit, provided the development is in demand and the market is favourable.

Better Payment Plans: With typically lower initial costs and flexible monthly payments.

Make sure to define your needs, including budget, location, developer, property type, size, amenities, and community.

Register with a Real Estate company specialised in off-plan

Purchasing off-plan property in Dubai is a straightforward process, but partnering with an experienced agency that has strong, long-established relationships with developers will provide you with the best selection of options. Your agent will act on your behalf, ensuring that all contracts are in order, keeping you updated on project progress, and handling the handover process. A skilled off-plan agent will be registered with all off-plan projects and developers in the market, offering you the most advantageous opportunities.

Finding the right property

Your agent will align your needs and preferences with the available projects. They will provide you with all the necessary information, including floor plans, payment options, brochures, videos, and more, to help you make an informed decision. Some developers also create ‘mock properties’ to showcase the materials, layouts, sizes, facilities, and amenities. If possible, your agent will arrange a site visit for you upon request.

What happens when you find the property you want?

You will accompany your agent to the developer’s sales office, where you can select the unit, you want and reserve it by signing a Sales Purchase Agreement (SPA) with the developer. An initial deposit, typically ranging from 10% to 20%, will be required. You will also need to provide a copy of your passport. Additionally, within 30 days, you must pay a 4% DLD title registration fee and an AED 1,000 Oqood fee.

Making the payments

You will need to make payments according to the payment plan outlined in the contract until the property is handed over to you. Reselling is typically permitted during the contract term if necessary. Ensure you fully understand the payment plan terms and consult your agent if you need any clarification.

Handover

At the time of handover, at the end of the contract, you will need to inspect the property for any snagging issues that require attention. Once any issues are resolved, a final payment will be made, and you will receive your access cards and keys. Your agent will assist you throughout this process to ensure everything runs smoothly and that you can move in as quickly as possible.

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