Tips for buying an off-plan property in Dubai

Over the years, the UAE real estate market has been growing at a constant rate. According to the latest reports, the market has also recently seen a fall in rental and sales prices making it even more attractive to investors. It is now considered by many to be a ‘buyers’ market’ and tenants are also enjoying the rewards. This period of rapid development in the UAE, means developers are consistently looking for buyers to invest in their off-plan properties Dubai. Buying an off-plan property has its advantages, but those looking to invest should also be mindful of some key considerations before signing any deal.

Shortlist the areas you would like to live in — and what you will need access to, for example, a supermarket, schools, fitness centres, do you want to be near the beach, and so on. Make sure you consider the general infrastructure around the development that you are considering.

When you start the process of deciding which off-plan property to buy, conduct thorough research of the developer and check their track record. One authentic method would be to see if the developer is registered with the respective real estate authority.

The biggest advantage of buying off-plan property in Dubai is that you can stagger the payments as per the progress of the construction.

Your off-plan sale and purchase agreements should have a specific mention of the expected completion date of the project, along with a solution on how the developer will address the potential issue of not meeting handover deadline.