What should you consider before investing in off-plan properties
Just as the adage goes — prevention is better than cure — it is always better to stay cautious and informed about any investment plan you make. The same applies to property investment as well. After you have decided to invest in off-plan properties in Dubai, there are several aspects that you need to study before any purchase to avoid conflicts in the future. For instance, before signing the deal, be aware of the risks associated with investing in something that is not yet complete.
Here are three major areas that you need to study well before purchasing off-plan properties in Dubai:
Risk Assessment And Preparedness
Two of the major risks that off-plan investments could face are unfavourable changes in market conditions and project delays. The fluctuating property market could see prices dropping in the middle of the course of the construction. Being aware of such risks associated with off-plan property dealings can certainly help you be prepared for any emergencies. Investors should ensure that they partner with a developer who can guarantee appropriate compensations in such circumstances.
Ensure that the developer, the property, and the land used for building the property are RERA-registered and that DLD has approved the transaction. Investors should also ensure that they have the escrow account number of the developer — the account is set up to hold the investors’ money during the process. Before signing the contracts, acquire appropriate proof from the developer that they have met such regulatory requirements. Consulting a reputed real estate agent can ease this process for you.
Performance Of The Developer
The most important part of off-plan property investment is partnering with a trusted developer who has a good record of accomplishment. Carry out extensive research on the developer and have an overall understanding of their success rate from past projects. Ensure that you also consider the financial stability of the developer. Understand their quality and efficiency, keeping in mind that the cheapest might not necessarily be the best.
At D&B Properties, we have the most experienced property managers who can guide you appropriately. As a trusted off-plan real estate agent dealing with the best developers in Dubai, a consultation with our experts can help you on your investment journey.
For more details, please contact:
firstname.lastname@example.org | +971565203470 | www.dandbdubai.com