Unveiling the Dubai Magic: Navigating Off-Plan vs Ready-to-Move-In Investments.

Dubai ends week on high note with $3.87 billion real estate transactions.

Happy Tuesday, everyone! You know the drill – it's time for another edition of the Dubai Effect: In today's article, we're diving into Off-Plan vs. Ready-to-Move-In Investments which subsequently tie into last week's booming figures. Ready for another new launch? Get ready to dive in– it's stated to be one of 2024's hottest investments- Art Bay By Ellington Properties.

Art Bay by Ellington Properties, located in Al Jaddaf, Dubai, is set to be a captivating addition to the city's real estate landscape. As a multi-purpose community situated along the banks of the historic Dubai Creek, apartments for sale at Ellington Art Bay will offer a tranquil oasis away from the city's hustle and bustle.

Embarking on an off-plan investment journey in Dubai opens doors to a world of possibilities. Picture this: you're investing in a property before it even reaches completion, placing your bets on architectural sketches and renderings. But fear not, for this leap of faith comes with its perks.

First up, say hello to flexible payment schedules! Gone are the days of hefty upfront costs. With off-plan homes, buyers enjoy the luxury of paying in bite-sized instalments during construction, making it easier on the wallet and interest-free to boot. And here's the cherry on top: the potential for capital appreciation. Watch your investment bloom as the property's value blossoms by the time it's ready to hit the market- The 1% monthly payment plan is becoming increasingly prevalent.

In a noteworthy shift, even certain villa projects are now adopting the 1% offer, providing buyers the opportunity to spread their payments on a monthly basis. This approach proves to be a more manageable alternative for buyers, especially when compared to the traditional lump-sum payments of 10-20% every three months or so.

But wait, there's more! Ever dreamt of customising your own abode? Off-plan investments grant you the golden ticket to tweak and tailor your property to perfection. From alterations to alternative finishes, the power is in your hands.

Ellington Properties has presented the new waterfront project in Al Jaddaf. It comprises of 2 mid-rise buildings, with a collection of comfortable studios and apartments. Full floors available. The property sizes range from a compact 450 sq. ft to a spacious 1,800 sq. ft.

Now, let's take a detour to explore the realm of ready-to-move-in properties. Picture-perfect and prepped for occupancy, these gems offer the ultimate convenience. No waiting game here – it's instant gratification at its finest. Plus, with established communities and amenities at your doorstep, it's like hitting the jackpot of location and liveability.

A detailed breakdown by the Dubai Land Department (DLD) showcased a diverse range of transactions, with 312 plots fetching AED2.95 billion for week beginning Monday 22nd - Friday 26th of January 2024 . Simultaneously, the department documented 2,696 sales of apartments and villas, significantly contributing to the week's total with a value of AED5.84 billion.

The week's top three transactions provided a glimpse into the grandeur of Dubai's real estate terrain. A plot in Al Barshaa South Second claimed the pinnacle, selling for an impressive AED210.1 million. Following closely were transactions in Saih Shuaib 2 for AED103.74 million and Saih Aldahal for AED100 million.

The financial dynamics of the week unveiled a total value of mortgaged properties reaching AED4.6 billion, reflecting ongoing confidence in Dubai's real estate market. Furthermore, properties granted between first-degree relatives amounted to AED850 million, emphasising family involvement in the city's property landscape.

The waterfront properties at Ellington Art Bay are expected to be in high demand among investors and homebuyers. The development's location between Sheikh Zayed Road and Al Khail Road ensures easy access to education centers, hospitals, and the charm of old Dubai. Al Jaddaf Waterfront's attractions, such as the UAE's first arts and sculptures park and the region's largest Green Wall, add to the community's uniqueness.

While looking at the real estate market as a whole, both ready and off-plan properties each have a unique set of benefits and drawbacks. Off-plan homes have reduced pricing and the chance for capital growth, but there's risk and a chance of delays. While ready homes provide quick occupancy and a well-established neighborhood, their prices are often higher and their modification options are more limited.

In the end, the purchaser's tastes and priorities will determine which option they select. When choosing a choice, it's critical to consider both the advantages and disadvantages of each to make sure you're getting the most for your money.?So, what's the forecast for Dubai's off-plan market, you ask? Drumroll, please! With off-plan transactions soaring to 54% of 2023, the future looks brighter than a desert sunrise. With both local and foreign investors flocking in droves, it's a real estate renaissance in the making.

Invest not just in a property but in a vibrant Dubai lifestyle and a secure tomorrow. Your dream property awaits; seize it with Hunter Jones, your trusted partner in real estate aspirations.

Contact our experts to select an off-plan residential complex in Dubai that meets your needs and budget today.

[email protected] // +44 7743 373717 // +971 58 510 3249

Reece Sayers

Head of Dubai Sales.