Real estate projects that are still on plan and under construction in Dubai enjoy tremendous popularity by real estate buyers and investors, as real estate sales reached their highest level in 2017 by selling more than 25 thousand housing units, and it seems that this trend will continue until the current year with more demand for investment And the purchase and announcement of real estate developers for future projects coming. Therefore, the Emirate of Dubai is a haven for buyers and real estate investors to spend their money in this sector, due to the Emirate’s growing economy, strong infrastructure and profitable financial returns.
Therefore, MyBuyout will present the five most important reasons for investing in real estate projects that are still on plan and under construction in Dubai.
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Lower prices and flexible payment plans
Financial facilities, promotions and flexible payment plans for residential projects and complexes
One of the most important privileges for real estate investments is that the planned projects are sold at a much lower price than the price of real estate ready for delivery, in addition to the multiplicity of projects and the high rate of competition among real estate developers that made many of them offer financial facilities, promotional offers and flexible payment plans that may reach 50% payment Upfront and 50% upon delivery, or 1% every month until delivery, as the outstanding payment will have reached 40% of the property’s value.
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You will generate excellent rental income from your real estate investment
Rental income from these investments is very high compared to the increase in the flow of expatriate residents in the country, so there will always be a demand for housing options despite the low real estate prices in Dubai. For example, the year 2017 witnessed a decline in real estate prices, but the returns on investment have become very stable and rewarding. Therefore, you will surely achieve excellent rental income from your real estate investment and will live with financial security and a stable base that may encourage you to invest again in the near future.
Strict laws to protect the rights of real estate buyers and investors
There are many measures taken by the Real Estate Regulatory Authority and the Land and Property Department in the United Arab Emirates to give real estate buyers and investors more protection against any delay, cancellation or fraud by real estate developers, to enhance their confidence and encourage them to buy and invest in the real estate market and make the emirate a safe climate For investment and development of the real estate market.
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One of the most important of these measures is that buyers must pay for the real estate projects that are still on the plan and under construction by some of the banks approved in the state, and accordingly, the Land and Property Department will allow developers to take their money only when the project reaches a certain stage of completion. Another law states that developers must provide 20% of construction money as a bank guarantee in addition to a 10% guarantee bond by the contractor.
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Many options for real estate projects that are still under study and implementation
The most important characteristic of the Emirate of Dubai is the continuation of plans for residential and commercial projects
What distinguishes the Emirate of Dubai is the continuation of the plans for residential and commercial projects, therefore we find that the real estate market is always active and positive, which provides an opportunity for investors and real estate buyers to invest and purchase throughout the year.
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We will mention some of the most important points to consider before investing in the real estate market for real estate projects that are still on the plan and under construction:
This point is one of the most common problems facing buyers and real estate investors in Dubai, especially for those who plan to move and live in their new home upon delivery. So it is a good idea to have a secondary plan in the event of this delay and take the necessary measures to do so.
In many cases, the property of the buyer or investor is purchased depending on the manuals for the project from a plan for the house, its floors, and the building materials used in its construction. Here we recommend that all properties of the project and its final form be verified by the developer himself and not through the real estate agent.
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Real estate market fluctuations
You should consider real estate market trends before starting any real estate investment. Although the current situation indicates profits and capital gains, the opposite can happen at any time.
These were the most important reasons that drive a lot to invest in real estate projects that are still on the plan and under construction, see the best areas to invest in Dubai for the year 2018, and browse more real estate options for sale in Dubai that are presented by real estate agents on the property.com website.