Buying Ready Properties in Dubai

Buying Ready Properties in Dubai

For many people, buying real estate is a once-in-a-lifetime opportunity. It can also be seen as an investment that can contribute to accumulating wealth in some situations. High ROI, tax-free environment, stable economy, high safety, world-class infrastructure, and a high-demanding market are among the main reasons that attract foreign investors from all over the world to invest in Dubai real estate market. However, the decision between investing in ready property or going for off-plan projects seems like a never-ending battle.

In reality, both investments offer their own advantages and disadvantages. As a result, it's critical to weigh the advantages and drawbacks of both options. Some general considerations, such as the market situation, price differences, available liquidity, developers’ reputation, and mortgage offers, must be considered in addition to the comparison. As the name suggests ready properties are units that have been completed and are ready to move in. The property can be an apartment, a villa, a townhouse, a duplex, or a penthouse. The demand for ready-to-move-in apartments in Dubai has always been on the higher side.

Whether you're a cash buyer or qualify for a mortgage, Dubai's real estate market offers some potentially attractive options. First thing to consider is that banks offer very great rates and benefits, not only for UAE locals but for foreign investors as well. Despite the COVID-19 setback, price trends in the Dubai real estate market appear to be rising, which means ready properties will experience an increase in value.

The main advantage of purchasing a ready-to-move-in property is that you can physically view and get a feel for it before finalizing the deal. Buying a ready property means you know exactly what you're getting in terms of overall quality and interior layout. Rather than that with ready-to-move-in properties, the risk factor is lower. Although the final price will be higher than an off-the-plan property, the returns will be higher as well. You can expect higher rental revenues and benefit from the market's constant demand. If you're an investor who's buying to lease, you can start earning money right away.

Some investors may argue that purchasing ready-to-move-in property in Dubai is safer because they have more control over their investment. Since ready properties tend to sell fast, they are generally safe investments for foreigners. There is no waiting period because the property is fully built. If the property is not mortgaged, the buyer retains the right to sell it at any moment.

When it comes to buying off-plan properties, the risk factor is a little higher. As these projects are in the construction phase, they will need time to complete. The process of gaining ROI through off-plan projects is therefore time-consuming. Off-plan properties also can be postponed, and in some cases, completely canceled. Keep in mind, though, that if the project has an escrow account, you may always get your money back.

One of the major benefits of investing in Dubai real estate is the substantial return on investment. Most of the apartments in the city's prime locations offer rental returns of over 6%, and villa communities often provide rental returns of over 4%. Some of Dubai's most popular areas, such as International City, have rental yields of above 9%. This is a significant factor to consider for those looking to buy real estate in Dubai.

Dubai's ready properties are often located in prime locations with completed infrastructure, giving them an edge over off-plan properties. The top locations of interest for villas and townhouses are Arabian Ranches, Palm Jumeirah, Dubai Hills Estate, Damac Hills and Mohamed bin Rashid City. However Downtown Dubai, Business Bay, Dubai Marina, Palm Jumeirah, and Jumeirah Village Circle are among the top interests for apartment buyers.

GET AN EXPERT ADVICE

Please fill your details in this form.

Invalid number