The Guide for Best Property Investments Dubai
The Guide for Best Property Investments Dubai: Off Plan and Ready Properties
In the eyes of the outsider, the property market can be a daunting new field to enter, especially if one is on the look for the best property investments Dubai. This is further intensified with the use of jargon specific to the real estate agents in Dubai. Novice buyers are likely to come across terms like off plan property and ready property.
In simple terms, an off-plan property refers to purchasing a house before it’s been built. Purchasing a ready property would mean buying a property that is already constructed and ready to be occupied.
Both have their own set of risks and rewards that the steadfast investor must know before going forward.
Taking the off-plan route benefits buyers from a lower purchase price and higher capital appreciation. The pathway also enjoys a lower upfront cost with flexible payment plans.
However, being a lengthy and time-consuming route, one shouldn’t expect a quick return on investment. Such properties are also sensitive to delays, poor finishes, cancellations and potential market changes. Buyers, as a result, cannot move in or rent out immediately.
A ready property eliminates some of the former issues by giving an immediate return on investment with buyers getting exactly what they had paid for. Problems with moving in and renting out no longer exist. And with the property completed, there are fewer risks which are otherwise common to off plan properties.
However, one must understand the trend of price fluctuations that occur from the period of construction to the completion of a property. As one approaches the completion of a property, its price and value increase. A property for sale is likely to burn away a greater fragment of the buyer’s money due to a higher purchase price. There is little capital appreciation with buyers having to pay all upfront.
For those planning on taking a leap in the local markets in UAE, the time has never been better as the region is constantly bringing out more lucrative projects set to alter its landscape in the coming years.
Off plan property or ready property, whatever you may be looking to proceed with, there are numerous advantages of investing in UAE.