BUYING OFF-PLAN: WHAT TO KNOW
Off-plan property investments have paved the way towards more competitive returns compared to established real estate units. Throughout the years, economic researchers and investment brokers have highly identified that providing early investment options tend to yield more profitable gains than having to invest in properties already existent in the current market. Nevertheless, there are certain considerations to be thought of before deciding on buying an off-plan property in Dubai.
Prior to deciding on investing towards off-plan development projects, it is always wise to know your broker first. Reputable developers have more to gain in producing exceptional results and servicing their clients, wherein failure to meet expectations will hurt their reputation even harder.
A prime example would be the development of Cherrywoods Townhouses by Meraas whereby failure to meet project expectations will tarnish their famous brand name throughout the industry. Besides that, having an accomplished developer to build your property provides more lenient bank loans and investment refinancing options for you too!
By having a trusted party managing your property’s development, you are sure to be confident in the end result and enjoy some peace of mind throughout the coming nights.
In deciding on the purchase of off-plan projects from any of Dubai’s real estate agencies, another aspect to be looked into is the current market trend.
In Dubai itself, property prices are forecasted to be on a steady decline for the fiscal year of 2019 and also you can find Apartments & Flats for Rent in Dubai .
This comes from previous market reports stating the reasoning for decreasing market value of properties are due to oversupply of property developments compared to local demand within the past few years.
Nevertheless, this essentially makes it more attractive to invest in Dubai’s current development projects instead of avoiding them!
In any economic cycle, the business cycle will only continue to grow after a period of economic slowdown and crashes. Hence, it is envisioned that the property prices will soar upwards again, due to better demand after lower market prices are established.
Upon utilizing this opportunity, 2019 becomes a very attractive proposition for investors to start looking into its off-plan projects as the cycle is starting to show signs of stability within the next few years.
Your finances are also another vital component towards making a decision in investing on off-plan projects in Dubai.
Have you prepared an overdraft of what your finances will look to be like once the paying commitments are decided upon? Investing on an off-plan project is evidently cheaper on the wallet and provides more profits in the long run. Nevertheless, it can also become a heavy burden for those unprepared and uninitialized with property investment.
The risks of investing in off-plan developments are also high if you do not have the knowledge of how and where to invest. Thus, always prepare a good financial planning sheet for you to be ready if you are expected to suffer slight financial losses, here and there. For more insights, you are always welcomed to contact any of Dubai’s real estate agencies for better consultations on the matter.
Like any other investment, property investment also does come with its own risk-and-reward structure. However, it falls down to you to take into consideration of what is best for your investment needs.
Still, property investment is undoubtedly one of the safest and most stable investment methods available in the market. And when it comes to property investments, off-plan project investments are surely a viable alternative for you to look into, in the coming years.