What Are The Factors That Need To Be Considered For Investing Off Plan Dubai Property?
Creating a demand for a market that does not physically exist is really difficult but Dubai government has done it successfully. In the days before slump, Dubai's off plan properties for sale got high exposure and came in high demand and the buyers made huge purchases of off plan properties in Dubai. Within some time Dubai real estate investor gets full know how of the off plan properties that they are for long-term investments. Off plan properties do not yield good results in short time but if given time they yield far greater results as compared to short-term properties. Like in other properties there also various options in off plan properties such as apartments, villas, offices and commercial properties.
The off plan property in Dubai has always remained a major attraction for investors since the starting days of Dubai real estate market. There was a time when new developments were sold out off plan within few days of their release but then recession shattered the dreams of developers. Now, Dubai has stabilized a bit and pacing ahead towards attaining complete stabilization in real estate market. In this article some points will be discussed, which will help investors to make well informed decision to buy their future Dubai accommodation.
Checking the Reputation of Developer:
First and foremost consideration is about the developer. How long he has been in the business and how many projects he has launched? What is his repute in delivering on-time projects? How many complaints were registered against him? These are few questions about developers that you must know before trusting him for your precious money.
Checking Price per unit:
The alarming signal of investment is pricing per unit of the property. If the developer is ready to sell property at lower price it means either he will not complete the project in due time or he will deliver low quality and low standards. You should not invest in such types of projects.
Checking the Developing Company:
The next important consideration is either the development company is financially backed by the government or not. It is obvious that government owned projects exhibit low risk as compared to others. Make a sound search about the project development company.
Checking Work On-Site:
Mostly projects were halted in Dubai after recession and few were even canceled. Therefore it will be more risky if you are going to invest in a project, where work has not started yet and only architectural drawing is available. As compared to this situation, if you are seeing work-in-progress on site then it will be less risky to invest in particular project.
Considering the Location
Last but not the least important consideration is the location of Dubai Real estate. People usually forget to physically visit the Dubai rental and buying Properties in Dubai where project will be commenced. Even it is having similar level of importance if you buy off-plan property or in a built project. Therefore make a visit and decide to invest on that basis.
These few considerations can turn your investment into worthy investment and will let you reap more profit from your investment. Take a look at all these points and make a decision accordingly.