Buying a home in Dubai before and after completion

Loyal tax system, high return on investment and many other opportunities are just some of the reasons that attract foreign buyers to the Dubai real estate market. This city is home to some of the most outstanding buildings in the world, and new developments are underway in every neighborhood, promising a luxurious lifestyle with all kinds of amenities. As for the options available to foreigners, the opportunities for investors are very numerous. While this is a positive development for Dubai, investors can get confused when choosing the right property with the highest ROI potential. The most important thing is to decide what is more profitable: buying a home in Dubai before and after construction is completed. In this article, we have looked at both of these options so that you can understand which one suits you best.

Buying move-in ready property in Dubai

Purchasing real estate is a very serious decision that should be taken thoughtfully. Especially if you don't plan on reselling or renting out anytime soon. The advantage of ready-to-occupy properties is that, unlike properties under construction, buyers have a chance to avoid unforeseen risks. Ready-to-move-in properties are more expensive than off-plan properties in the same area. The buyer must have the necessary budget, as they will have to pay the full cost of the property before the developer finally hands over the keys. Nevertheless, there are also advantages of ready-made real estate in Dubai:

• Possibility to move into housing immediately;
• No risk of construction delay;
• Opportunity to inspect the property;

Of course, buying ready-made housing has its drawbacks, including the high cost. Compared to real estate under construction, ready-made property can be almost 20%-30% more expensive.

Where are the best areas to find ready-made property in Dubai? According to our experts' analysis and reports, the best areas to find move-in ready properties are Downtown Dubai, Emaar South, Jumeirah, Town Square and DAMAC Hills. In them you can find ready-to-move-in properties for every taste and budget.

Property in Dubai under construction

What is off-plan real estate? This is the name of the objects before the completion of their construction. If you do not plan to move into housing immediately or rent it out after construction is completed, then it is more profitable to take objects at the construction stage - they are much cheaper. After the housing is completed and put into operation, its price will increase by at least one-fifth. Buying off-plan real estate gives you the opportunity to buy a home in installments using convenient payment schemes. The initial payment varies from 5 to 25%, and further payments are made once a month or quarter. The principal amount is paid upon commissioning of the property.

Investing in off-plan real estate in Dubai is beneficial in the sense that the value of the property is constantly growing: the closer the final, the more expensive the housing. This option has the following advantages:

• High profitability;
• Good investment valuation;
• Flexibility of payment;
• Discounts and offers.

When it comes to buying an off-plan apartment, there are immediate concerns about possible risks. What will happen to the invested funds if the developer goes bankrupt, freezes the project or is late with its commissioning? In Dubai, this practically does not occur, since the work of developers is controlled at the state level. All measures are taken to minimize the risks of clients. For example, the buyer sends his funds not directly to the developer, but to a target excrow account, which ensures the safety of the investor's funds.

Real estate in Dubai: off-plan or ready-made housing?

UAE Assets experts recommend finding out more about the developer before signing the contract. Such information can be found in the specialized application Dubai Rest, issued by the Dubai Land Department. There is all the official and up-to-date information about developers, their projects and real estate agents. Although all of the above problems and tasks can be solved on your own, it will be much more reliable to enlist the support of a professional. If you have any questions regarding the purchase of property in Dubai, our agents will be happy to advise you. Our specialists are well versed in the UAE housing market and are familiar with local legislation. With UAE Assets you will find a good developer and get the best investment offer.