It is true to say that there is no competition when it comes to the real estate market in Dubai. The city keeps impressing the buyers with every award-worthy project that encourages the investors to buy luxury properties. Keeping the rapid growth of this sector the trend of buying off-plan properties are also on a rise. Mostly, purchasers give preference to buying such properties that developers sell before the project is completed. We have the possible explanations for their preferences. It happens the fact that both the developer and the buyer consider the likeable payment options and reliability that arrives with off-plan property than in contrary. This write-up will take you through the reasons for the rising trend of off-plan properties in Dubai.
The Trend of the Real Estate Market
The surge in the off-plan properties has made the residential property industry take an upturn spike from the start of the year. From the year 2020, the trend of steady growth shows improvement with the launch of various new developments across the city. At this speed, the luxury homes in Dubai are set to witness high sales by the end of the year. However, with the boost in the transaction count there comes a modest value in the prices of off-plan properties.
Buyer’s Protection Laws in Dubai
In order to provide safeguard to the investors of off-plan property, the real estate industry comprises certain rules and laws. For some reason, the off-plan properties seem to be risky the Dubai Land Department (DLD) and Real Estate Regulatory Authorities (RERA) have made several processes so that the buyers do not have to face cancellations and delays. One of the laws command that the payment of the off-plan homes in Dubai to be made at institutions that are approved by DLD. In this way, the confidence of the investors gets uplifted.
Attractive Payment Plans
One of the perks that excite the buyer with Dubai off-plan properties is the low prices in comparison with the ready-to-move properties. In this regard, the flexibility in the payment plans and prices make this option affordable and convincing for the buyers. It encourages first-time purchasers with limited budgets to prefer off-plan property for sale in Dubai. Of all the off-plan property developers some of them ask the buyer to pay 40% at the time of construction while the rest allows paying at the time of handing over the property.
Dubai’s off-plan property prices are on a rise at the steady pace guided by the demand and supply from the foreign as well as local investors. With the progress in the process of construction it also promises the high yield on the investment to provide you long term benefit.
All in all, the off-plan property demand in Dubai has increased and will further continue to rise in the upcoming years. However, the security and protection is provided under the law of buyer’s protection so that you can stay safe from any of the scams. The DxB Lux Homes hope that you are now aware of the off-plan property market trend to maximise the benefits that it proffers.