Off plan properties are a type of real estate investment where the buyer purchases the property before it has been built. This type of investment is attractive to many investors for several reasons, including the potential for capital growth and higher returns than with other types of investments.
When an investor purchases an off-plan property, they are buying before construction has commenced or even been approved. This means that the investor is taking on more risk as there is no guarantee that the development will ever be completed or that it will meet their expectations. However, this risk also presents more potential for reward as market trends can change dramatically during construction, resulting in the opportunity for capital growth and increased profits if correctly timed.
One of the advantages to investing in off-plan properties is that they often come at a discounted price when compared to similar properties already built in the same area. This allows investors to gain access to prime real estate opportunities at a lower cost than what they would have paid after construction was completed. In addition to being able to buy discounted property, off-plan property investments often involve payment plans which allow buyers to pay in installments instead of all at once and offer interest free periods throughout the purchase process.
Investing in off-plan properties can result in high returns, but it’s important for investors to do their research so that they understand exactly what is involved and the risks associated with this type of investment. As with any kind of financial decision, investors should ensure they understand market conditions, speak with their advisors about taxation implications and be aware any restrictions placed upon them by developers before committing funds into this asset class.
Buying a property in Dubai can be one of the most rewarding and lucrative investments that you can make. But, with so many options available, it can be tricky to know which type of purchase is best for you. One option that could be worth considering is an off-plan property. Off-plan properties offer a range of benefits that make them attractive investments, from attractive discounts to reliable developer support and the potential for greater capital gains.
Off-Plan properties are newly constructed properties that have not yet been completed or registered with the local Land Department. Rather than purchasing a ready-built home or apartment, buyers pre-purchase these properties off-plans by signing contracts before construction is complete, thereby benefiting from discounted prices as well as additional features provided by the developer such as furniture packages, free parking spaces and more.
The main advantage of buying an off-plan property in Dubai is the potential for higher capital gains due to the market appreciation of this type of property over time. The Dubai real estate market has seen huge growth over the past few years with both residential and commercial units delivering significant returns on investment (ROI). This means that buying an off-plan property now gives investors early access to this appreciation when they decide to resell their unit at a later date. Another benefit of investing in off-plan properties is that they often come with attractive discounts ranging from 5 – 20 per cent below market prices, which provide investors with additional savings when compared to ready built units.
Off plan purchases also come with reliable support from established developers who have considerable experience in this field. Developers such as Emaar Properties, DAMAC Properties and Meraas are amongst some of the top names in Dubai’s real estate industry and these companies are renowned for their commitment towards delivering high quality projects on time and within budget. As part of their commitment buyers receive an assurance from top developers regarding timely payment schedules, updates on progress and even assistance from legal teams where required throughout the duration of the project period.
Finally, another great benefit of opting for an off-plan purchase is being able to customize your unit according to your own preferences through additional features which may include upgrading flooring types or kitchen cabinets depending on availability at no extra cost; something not always possible with ready built units due to predetermined finishes imposed upon buyers by developers or landlords post completion.
Among them is the highly anticipated Da Vinci Tower, a luxury residential complex set to redefine living standards in the heart of Downtown Dubai.
Designed by the acclaimed Pagani Design Studio, Da Vinci Tower is set to become one of the most prestigious addresses in Dubai and will be home to 2 – 4-bedroom apartments featuring exquisite interiors that draw inspiration from Pagani’s trademark Italian style. The building will offer its residents a unique 60/40 payment plan allowing them to pay 40% after handover within two years instead of an upfront full payment. The tower boasts fantastic views of both the Dubai Canal and Burj Khalifa, making it one of the most sought-after properties in town.
Residents can look forward to being at the epicenter of modern day luxury when they move into this exclusive high-rise property. Furthermore, with close proximity to all major commercial hubs and attractions, Da Vinci Tower offers its occupants unparalleled convenience while still providing them with privacy and exclusivity throughout their stay.
Currently, one of the most exciting projects taking shape in the city is Emaar’s Creek Palace at Dubai Creek Harbour.
Situated along the shores of Dubai Creek, this luxurious residential complex offers an array of high-end amenities and views that will take your breath away. The development includes a range of spacious 1-, 2- and 3-bedroom apartments that have been carefully designed to maximize natural light and provide stunning views of the waterfront. The 1 bedroom apartments start from 642 sq.ft with prices starting from AED 1,000,400 while 2 bedroom units are available in sizes between 1,053 to 1,116 sq.ft with prices starting from AED 1,460,000. Lastly, 3 bedroom units come in sizes between 1,651 to 2,287 sq.ft with prices starting from AED 2,570,000.
The Elvira community is an upcoming development situated in Dubai Hills Estate that offers modern and luxurious 1-to-3-bedroom apartments and 3 bedroom townhouses & duplexes. Located directly on Dubai Hills Park and in close proximity to the Dubai Hills Mall, it does not come as a surprise that Elvira is one of the most sought-after projects in the region.
The self-contained community features premium amenities such as parks, green open spaces, lush landscapes, swimming pools and a shopping centre – all within walking distance from each other. Residents will be able to enjoy all kinds of outdoor activities, sports facilities and entertainment options. Thanks to its strategic location, residents also have easy access to schools, healthcare facilities and other key attractions.
Elvira is offering prospective buyers an amazing opportunity to join a vibrant residential community with attractive price tags starting from AED 1.3M to 4.5M. The developer has implemented an 80/20 payment plan which makes investing at Elvira much more convenient for potential buyers who cannot afford the full amount upfront. The project is expected to be completed by 2026 providing investors with guaranteed returns over time due to its prime location and long term appreciation prospects.