What is Off Plan Property and Why Buy Off Plan Property?

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An off-plan property Dubai is a property that is purchased when the construction of a building is in on progress. It is the building that hasn’t still been completed and so the price at which one can buy is a discounted rate. So, buying off-plan property is an attractive investment.

The investor generally needs to pay a fee as a reservation and the deposit. A deposit is anywhere between 10-20%, at most, it can go to 30% depending on the construction company and the development.

What to buy an off-plan property?

When you buy an off-plan property, you get various benefits and all of which is aimed at capital growth and secure investment. The housing market is growing rapidly. Therefore, the investors take advantage by buying properties before their completion at a lower price.

Also, when a building is constructing, and nothing is booked yet, you have the advantage of selecting the floor and location of your property in the off-plan property. You can also take advantage of changing the looks of your property. You might also get furniture packages by making a deal with the construction company or the developer.

The off-plan properties are eight refurbished or new builds. So, they are generally modern buildings and with facilities such as environment-friendly, energy efficient, and has all other modern supports. So, the bills will be cheaper, and the rental price will be higher.

When to sell your off-plan property?

Selling off-plan property depends upon the owner of the property. Most people wait till the building is complete. It will usually take a few years to complete the build. So, the investor will sit for those few years and then sell them with a profit of around 30%.

Many owners won’t sell the property they purchased from off-plan. They will rent the property and will be able to earn a return of 7%.