Off plan real estate market, in Dubai, developing very fast. Due to upcoming Expo 2020 developers launched a number of projects, back in 2016-2017, in order to satisfy the increasing demand in housing, by 2021. As a result, prices have dropped down. In order to attract investors and stand out among other competitors Dubai real estate developers started implementing attractive off plan deals and special offers. According to recent off plan deals, you can book off plan property by paying as little as 1% – 5%.
Before we start going into more details, it is crucial to have an understanding of what is off plan and what is the difference between off plan and ready unit or secondary market.
What is off plan?
An off plan property is an unconstructed property purchased directly from a developer or in some cases a first owner. In the case where the buyer is buying directly from the developer at the time of purchase the buyer usually pays a 10-20% down payment and signs SPA (Sales Purchase Agreement). Depending on which developer the rest of payments made can and do vary but are usually linked to construction. Some developers offer 2-5 years payment plan or post-handover payment plan. Post-handover payment plan means you can pay the remaining amount for your apartment after the project completion and after the apartment has been handed over to its owner.
What is a ready unit or on plan unit
Ready unit is a house or property that is ready for immediate occupancy. A property in this condition must be ready and must meet all requirements by the city or governing municipality.
Benefits of off plan project
1. Save money
While purchasing an off plan property you can pay the whole amount within a specific period of time, depending on the developer. Usually, this term can wary from 2 to 5 years, for any off plan project. In this way, you can become an owner of your own apartment without having or paying the full amount. What is more, some Dubai real estate developers offer a post-handover payment plan which eases the payment process for investors or end-users.
2. Sell while it is still off plan
Another advantage of investing in off plan unit is that you can sell it before the actual handover. It is a well-known fact that a ready apartment is more expensive, comparing to off plan. That is why, closer to completion date your off plan apartment can be sold for a better price.
3. Better ROI
Off plan unit is cheaper by 25% at least, comparing to ready one. That makes ROI higher, due to the lower purchasing price. If you are an investor – consider investing in off plan property.
4. New unit
Off plan unit is new. No one ever has lived there, and you will be the first one to put a foot in this apartment. For those who prefer new apartments – off plan is the right choice.
Top Dubai developers
When it comes to Dubai real estate developers and choosing the right project to invest in, you should consider top Dubai real estate developers, first. Why should you go for the main developers instead of smaller and not well known? The main reasons are:
- Excellent reputation;
- A huge number of satisfied clients;
- Reputable name;
- Variety of projects and units;
- Good locations.
These are the main reasons why you should consider investing with top Dubai real estate developers. Among them, we can highlight such names as Emaar Properties, Ellington Properties, Azizi Developments, Dubai Properties (DP).
Due to the increase of real estate projects and market saturation, developers are trying to stand out and come up with different property offers.
Emaar Properties is a semi-governmental developer. It is one of the world’s most valuable and well-known real estate development companies. Emaar Properties is infamous for such projects as shopping malls (Dubai Mall), retail & hospitality, acclaimed Burj Khalifa, dancing fountains and many others. Emaar shapes a new lifestyle with a focus on design excellence, quality, and timely delivery.
One of the recent Emaar off plan projects are Expo Golf Villas, Creek Edge, Sirdhana, Spring to name a few. These projects have very suitable and beneficial offers for investors and end-users. For more details – contact one of our property consultants.
Ellington Properties is a relatively new developer in Dubai real estate market. Nevertheless, it is a truly customer-focused developer, managed to earn back the love of investors and those who value design and originality. Ellington develops classically beautiful residences in Dubai, working closely with the design and architectural teams, end to end. Among recent off plan projects, we can highlight Belgravia Heights, Wilton Park Residences, DT1. If you want to get full information on Ellington projects, special deals and offers – contact one of our property consultants.
It is a well-known developer in Dubai and other emirates of UAE. Azizi Developments has more than 200 real estate projects such as Riviera, Victoria, Furjan, to name a few. This developer is fully dedicated to understanding and meeting the client’s needs. That is why they have different projects, which can satisfy anyone. Azizi Developments attracted a huge number of investors due to its exclusive offers and attractive off plan payment plans. If you want to invest in one of Azizi Developments off plan or ready projects – contact us and we will be happy to provide all needed details.
Dubai Properties is a semi-governmental developer based in Dubai. It is a dynamic and forward-thinking organization which is committed to creating unique and renowned developments that provide a distinctive lifestyle for its residents. One of the biggest projects are 1/JBR, Villanova, Remraam, and Mudon. Dubai Properties have a different range of projects, from luxury towers on the seashore to cozy villas in a quiet community. With Dubai Properties everyone will be able to find their True Home! If you want to know more about any mentioned above projects – contact property consultant from @Universal Prime Real Estate.
When it comes to real estate investments, especially off plan projects – reliability and reputation of the developer come first. Mentioned above developers are one of the top developers in Dubai with one of the best off plan offers and payment plans. Contact @Universal Prime Real Estate and ask what the best offer in today’s real estate market are?