Why Must You Think of Investing in Dubai Off Plan Apartments?

In a crunching economy, we are living in; buying off the plan apartments is to best and most profitable things to do. While you might have heard a lot about off plan apartments for sale in Dubai, there are quite a few merits and benefits of doing so. Before you go ahead and think of investing or buy off the plan apartments, here are few advantages that you might wish to know about:

Increased ROI

Once the work of construction is done, you would generally observe that the prices have sky-rocketed. One of the unique factors about splurging in a property that is still under the construction is that it is geared to move in, which means that an investor can sell off the property with an already escalated price to another investor with absolute ease.

buy off the plan apartments

Minimise Risk

A developer on providing a payment schedule, with an allowance of 70% and beyond as payable post-handover, births quite a big potential risk. In that case, the urgency to finish the project becomes of utmost importance for any developer. 

Fixed Price

If you can book a property at the current price after doling out an insignificant down payment (a little portion of the whole price throughout the process of construction) enables you to celebrate the success of a property’s total value appreciation.

The off plan apartments Dubai tagged with escalated ROI’s and budget-friendly plans are undoubtedly one of the best investments one can make. 

Off-plan apartments Dubai

How is Government safeguarding off-property business?

Dubai Government has recently put in dollars to bring about world-class governance that keeps a track on marketing and sales properties. This initiative is put forward by the Dubai Government with an aim to craft an environment for real estate that puts in the amazing international practices to assure the rights of stakeholders and to devote towards the social development (the Dubai Real Estate Legislation, 2007).

Before selling or the promotion of selling an off-plan project, a developer must strictly be able to adhere to the set of rules, which comprises of:

• The developer would have to buy the land that they wish to develop, and any charge they receive from the sales of off-plan property should go into the Escrow account directly. The Escrow account is basically checked and tracked by RERA and is only accessible by the developers only after the milestones in construction is reached. In case of an emergency where the project is not delivered, the Escrow agent is liable to take the necessary steps in safeguarding the depositors’ rights to make sure the project is finished on time, failure of which the payments get refunded to the depositors. 

• Projects and developers should be registered with the Real Estate Regulatory Agency and the Dubai Land Departments. The progress of the construction should at least reach 20% of completion, or the developer might instead choose to put forward a security deposit with DLD that is worth 20% of the whole value of the project. 

These were few of the basic ways how Government is doing their bit in protecting the business of off-plan properties in Dubai.