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Investing in off-plan property is purchasing a property during the construction part of the building process. It’s usually purchased at a discounted price to the actual value of the completed state making it attractive to property investors.
Looking to invest in one of the world’s most dynamic real estate markets? Don’t miss the opportunity to secure your future with a smart investment in Dubai’s off-plan properties. With our comprehensive guide, buying off-plan property in Dubai has never been easier or more secure.
We at Chelsea International Properties, with our vast experience in the Dubai real estate market, have created an ultimate guide just for you! This guide provides a step-by-step process, helping you navigate through every aspect of buying an off-plan property. From understanding what an off-plan property is to explaining the legalities, risks, and rewards, we’ve got you covered.
Click the link below to find out detailed steps for Buying Off-Plan Properties in Dubai!’ Let’s embark on this exciting journey of investing in Dubai’s off-plan properties together. Your path to a profitable real estate investment starts here!
Senior Sales Adviser of Chelsea International Properties
The demand for new properties for living in Dubai is increasing, and with this comes the rise of more new off-plan projects in Dubai. You’ll find various off-plan units available for sale throughout the Dubai area, including apartments, villas, townhouses, and other spaces. These properties include many spaces for living and will make for ideal investments.
Dubai is a city on the rise, as the city has seen growth over the years. The population of Dubai increased from 1.875 million in 2010 to 2.95 million in 2022. Current trends suggest the population will reach the 3.5 million mark in 2035.
The increasing number of people expected to live in Dubai in the future makes investing in off-plan properties all the more viable. You’ll find various off-plan spaces in Dubai where you can find strong possible investment growth. Since the demand for properties in Dubai will keep on increasing, you’ll need to find a space that is inviting and worthwhile for your interest.
The options for off-plan properties in Dubai include spaces for all living needs. You’ll see small apartments and townhouses, vast penthouses that can take up an entire floor in a building, or villas with extensive floor plans and land plots. Each space comes with a different value based on features and amenities, plus the locations for these sites will vary. But whatever you choose, you’ll find some interesting things that you will enjoy, whether you plan on buying a property for yourself or you intend to rent it out to others.
You can talk with us at Chelsea International Properties if you’re interested in finding an off-plan property in Dubai. We are here to help prospective investors find off-plan spaces that interest them. We can review your current interests and find a plan for work that will fit whatever plans you hold for a property.
Off-plan property is a type of property that still needs to be completed. The property can be a building that is currently under construction, or it could be one that is planned and will be finished at some point soon.
An investor can buy an off-plan property with the agreement that the property in question will be complete at some point. There should be a realistic timeframe for when the property will be completely ready. This timeframe can go for about one to five years on average.
The property’s value is substantially lower than what you’d pay for one that was already complete. Since the property’s construction and development aren’t done, the price will be less than the market value. The value is anticipated to increase after the project is complete.
Development in the off-plan space is also subject to change. Since the building is still in production, there’s a chance that the property can include new features of other designs. When you acquire an off-plan property, you’ll have more control over what you want from the setup.
You can find many new off-plan projects in Dubai, and the advantages of acquiring one are plentiful:
You can get more out of an off-plan property in Dubai when you know what to expect. Your choices when looking to buy off-plan property in Dubai are plentiful, so looking around at assorted options will be worthwhile. You can ask us at Chelsea International Properties for help finding a space that fits your investment interest.
The discount for an off-plan property in Dubai will vary, but expect to spend anywhere from 15 to 25 percent less than you would spend on an existing space. The savings can be dramatic when you consider how many millions you might spend on some properties.
The savings in getting an off-plan property is one of the most appealing benefits of finding an off-plan property. Since the value will rise as the project comes to completion, you’ll find a good deal on the investment. This point is particularly beneficial to investors looking for more extensive spaces for living.
Off-plan projects can also be furnished properties. A furnished space has all the furniture, appliances, and other assets necessary for helping a person live a comfortable life in the building. When you run an off-plan property, you’ll have control over determining what assets will go into the building.
Furnished apartments and other properties tend to command higher rents. Depreciation will apply to all the furniture and other items in the building, so a higher rent will be necessary to offset those losses.
It’s also easier to find renters when you have a furnished space. Not all renters will have the furniture and appliances needed for living, plus some might not like the idea of moving heavy and bulky items out to their new spaces.
The off-plan properties around Dubai include various choices that fit all living needs. You can find many exciting spaces for living purposes here, as there are choices for different budgets.
You can find many off-plan apartments for sale throughout Dubai, with the number of bedrooms and bathrooms for each apartment varying by space. There’s a vast assortment of apartments under development, including studio apartments and one or two-bedroom spots with multiple bathrooms.
The average size of off-plan apartments in Dubai will vary, with studio apartments being the smallest. A studio apartment will have about 400 to 500 square feet of room in most cases. A more massive apartment with a bedroom or two will have about 1,200 to 1,500 square feet of space.
The diverse array of apartments makes these useful for many people in the Dubai area. Single renters might benefit from studio apartments, while couples could find a single-bedroom spot for living. Families can also find two or three-bedroom apartments.
The number of apartments in a single building will vary, especially since many buildings will include apartments with varying floor plans. The designs of each site will vary, and you’ll have the option to invest in one or multiple apartments in a building. You could also invest in the entire building, although that would require more funds and additional support in maintaining the entire land mass around the property.
Penthouses are different from traditional apartments in that they feature more luxuries and extra room for living. You can find many off-plan penthouses in the same buildings where you’d find off-plan apartments. These penthouses are typically on the higher floors of a building and will include separate access features to keep them apart from the regular apartments in the area.
A penthouse has enough room to make it comparable with a traditional standalone home, but the fact that the penthouse is inside an existing building means the renter’s upkeep won’t be as high. Some of these penthouses can even cover an entire floor within the building.
You can find off-plan penthouses in Dubai with three to five bedrooms and four or more bathrooms. You can find more than 5,000 square feet of room in one penthouse.
Some penthouses are also duplexes that have two floors of space for living. You can even find private patios or terraces in some penthouses.
With Dubai becoming an attractive place among many high-income people, you’ll find many renters interested in off-plan penthouses. Investing in these spaces could become a worthwhile opportunity.
Off-plan villas are some of the most exciting off-plan properties for sale in Dubai, as the cost for many of these villas might be extremely high when finished. Villas can go for millions of dirhams, but an off-plan space can be more affordable for investors.
For example, an off-plan villa with about 15,000 square feet and six or seven bedrooms can go for around 20 million dirhams. The total would dramatically increase after the project is finished, as the value will increase from the space being immediately ready for rent.
You don’t have to spend tens of millions of dirhams on some off-plan villas in Dubai, as there are units of varying sizes available. You could find a three-bedroom villa with about 2,000 square feet for 2 million dirhams, for example.
No matter how big the off-plan villa is, you’ll find an investment that is exciting for renters looking for permanent homes. Villas feature brilliant detached designs and are situated in luxurious parts of Dubai. The private and spacious living areas in a villa are appealing, plus many villas will be near prominent business sites or recreational areas like golf courses.
Townhouses are different from traditional houses, as a townhouse is a property attached to a building that includes many more townhouses in that same body. A townhouse can also be called a terraced house.
The most appealing part of a townhouse is how the property won’t require much maintenance on the renter’s part. Since the property is in the middle of a more massive space, the townhouse will utilize simplified maintenance plans.
You can find off-plan townhouses at various prices, including units that are about 2 to 3 million dirhams each. A townhouse can feature about three or four bedrooms and around 2,500 square feet of space, making this property consistent with what a traditional single-family house includes.
You can buy off-plan property in Dubai in many forms, including smaller apartments and more massive villas or penthouses. The choices you’ve got for off-plan properties for sale are varied, and the costs for these spots will also vary by size and layout.
You’ll find many more off-plan properties for sale in Dubai, as the area continues to grow in prominence. The listings available will vary over whatever is under development, but you will find it easier to afford one of these investments than if you found a finished space. Your ability to control the development process after becoming an owner will also help.
The excitement of off-plan projects in Dubai is something all investors should explore. You can consult us at Chelsea International Properties if you ever require assistance finding an off-plan project that interests you.
Confused about Dubai’s off-plan property market? Try our quick quiz! As property experts, we’ve compiled all the off-plan info you need in one place, saving you the hassle of searching UAE’s property sites. Follow the steps, find your dream home