Purchasing off-plan property in Dubai is a reliable way not only to save money in an unstable economy and inflation but also to earn income. If you buy house in Palm Jumeirah, or any other area of the city, to rent it out, then it will pay off quickly enough. Visit Ax Capital agency website for detailed offers.
Know where to buy
The most promising areas for investment are:
- Dubai Marina,
- Palm Jumeirah,
- and Downtown Dubai.
Coastal areas – Dubai Marina and Palm Jumeirah – have always been popular. Downtown Dubai is a more stable market, which attracts the close attention of foreign investors today. Jumeirah Lake Towers and Jumeirah Village South add to the list of popular markets.
One of the most promising areas is Burj. The Dubai Mall, the Dubai International Financial Center, the Burj Khalifa, as well as the residence and office of the Emir of Dubai are located here. This is an area with a developed infrastructure, which is the center of the business life of the city.
When choosing a property for resale, you should pay attention to other factors, such as whether the building has additional amenities. Of course, the location of the object is the main criterion for liquidity. But no less important role is played by the infrastructure both around the project and in the complex itself. Having a pool, a gym and a cafe is a big competitive advantage.
Resale in the blink of an eye
You can resell real estate without even having a certificate of ownership. You only need to obtain a purchase agreement and an OQOOD (Builder Registration System) database certificate. This document can be obtained directly from the construction company.
The earlier the object was purchased, for example, at the zero stage, the higher the percentage of capital is gained. On average, if we talk about investment at the zero stage, at the time of putting the facility into operation, we can expect about 30% growth. As for the most elite complexes, which are being built together with world-famous companies, the capital gain can reach 40%.
Considering that construction usually lasts at least 18 months, this period is optimal for those who do not want to wait too long but hope for a big profit.
Is it safe to buy off-plan
In general, subject to certain rules, the purchase of real estate during the construction phase is not associated with great risks. There are two main reasons proving that:
- There is a law that protects the rights of investors in Dubai. According to it, the money that the buyer invests in a new project is stored in an escrow account, and the developer does not have the right to withdraw more funds than is required at a particular stage of construction.
- Another law provides for damages to the investor if the company fails to complete the work by the deadline.
The main danger that awaits an off-plan buyer is an unscrupulous developer. You should invest in the real estate of large, well-known construction companies with a good reputation, such as Dubai Properties Group, Emaar, and Nakheel.
Real estate in Dubai
Real estate prices are growing by leaps and bounds, so you can resell almost immediately after purchase. To get help from the specialists check out the Ax Capital agency website.