In today’s market, buying a property in Dubai is dubbed as the best investment option. Several real estate investment trends are changed over the years such as should we buy a property with a mortgage loan or buy with full cash payment, or should we invest in buy-to-let property for steady income or invest in any property, hold it for a while and sell it against any profit margin. However, the most debatable topic remains the same: whether to invest in off plan properties in Dubai or ready to move-in.
Though there is no one particular answer to this question, yet we can devise an investment strategy based on investment plan and goals. It is because every investment plan comes with its own set of risks and pros and cons that must be considered before selecting any option. Over the years, the market has seen to favour both therefore, potential investors are divided between these both options. Nowadays,?Dubai off plan properties are considered a burgeoning investment sector?but at the same time, ready properties are also preferred by many.
Before picking any particular option or making any commitment, it is better to weigh up both options.
Pros of investing in off plan properties in Dubai
Because of the post-pandemic economic turn, property agents in Dubai believe that a majority of buyers will come forward to invest in real estate this year. Though people usually believe that investing in off plan properties in Dubai is relatively cheaper than ready-to-move properties but the investment scenario has lately been changed. A large number of foreign and local investors have been showing more interest in off plan properties. You can read here if you need?reasons to invest in Dubai off plan properties?and now, let’s have a look at the pros of investing in off plan properties in Dubai.
- One of the biggest advantages of investing in off plan properties in Dubai is easiest entry in the market. All you need is to pay 5 to 10 per cent of the total amount to start this investment journey.
- Another advantage is that you buy directly from developers (in most of the cases), which helps you cut down certain costs. Simultaneously, developers offer flexible payment plans that may continue post-handover as well.
- Besides offering flexible payment plan, Dubai property developers also offer incentives such as zero-interest payment plan. It can help potential buyers manage the payments, without any additional burden.
- Dubai off plan property buyers got a go-ahead for Golden Visa, provided that their investment is worth at least AED 2 million. All it is needed that your selected developers or?property agents in Dubai?will have to propose to the immigration authorities that the buyer has fulfilled the investment requirement and now he can qualify for a resident permit.
- Investing in off plan properties in Dubai also gives you an advantage of choosing your favourite residential unit from a larger available variety. You can pick any luxury unit depending upon your personal preference and it may likely yield higher returns for you after completion.
Cons of investing in off plan properties in Dubai
- The biggest drawback of investing in off plan properties is that your buying decision is completely based on the information given through brochures and any other promotional material.
- Another con of buying off-plan properties is the lack of control over the quality and standard of work, until you receive the property.
- Another con is the risk of delays in completion, which could lead to financial losses, especially, if you have already made the payments for purchasing the property.
Pros of investing in ready properties in Dubai
Dubai real estate sector is booming and?prime areas are in higher demand with property prices are up by 90%. It offers one of the finest properties in the world that can bring the most attractive rental yields. And investing in ready properties in Dubai is a great way to generate wealth and steady income in form of rental yield. Though you need hefty amount to invest in ready properties but it brings immediate benefits for the property buyer. Let’s have a look at the pros of investing in off plan properties in Dubai.
- The biggest advantage of buying a ready property in Dubai is that you can see the property, feel it and then choose to buy it. Viewing a property helps you make a well-informed investment decision as opposed to a off plan properties, where the decision is based on a lot of guess work. And checking all parameters before making a purchase decision is also crucial.
- Location plays an important role and ready projects are mostly located in locations, wherein all infrastructure requirements are already met. You can buy a ready property and consider renting it ahead or move in because the infrastructure is mostly complete and living can be convenient and comfortable.
- Another advantage of investing in ready properties in Dubai is that you do not have to worry about expected delays in completion, cancellations or any other issue that can be associated with off-plan properties.
- Ready properties in Dubai are relatively more expensive than off plan properties but also offer more stability and returns are also higher; mostly because you know what you are buying, where you are buying before signing on the dotted line.
- Off plan properties in Dubai are categorized differently based on the sale’s plan such as you can either sell or rent off plan properties after completion or do it before completion. However, there is no such condition when it comes to selling ready properties as you can re-sell it anytime.
Cons of investing in ready properties in Dubai
- Though it is not a con but can be considered a disadvantage that ready properties tend to be more expensive than off plan properties. And flexible payment plan is also not an option, especially, if you are not willing to take mortgage.
- Once you have bought a particular ready property, there is a very small chance that you can change its certain features including location, view and proximity to key facilities.
- Not just the surroundings are nearly impossible to change, you also have lesser control on how to further modify the property internally. Modification options are limited.
Given the market scenarios, buyers will have to decide between ready and off plan properties in Dubai. It is observed that off plan properties tend to be more attractive, mainly due to their prices and affordability. No matter, what you choose but one thing is sure that it is a good time to buy properties in Dubai. All you need is to do your due diligence by working with market experts.
Investing in any option can turn out to be viable but these options need to be analyzed to make a right decision. For that, you can call the market experts at at?+971 4876 2473?or write us at?[email protected]?and we will help you make a well-informed investment decision.
