Buying Off Plan Property Guide in Dubai

An off-plan property is a wise investment. You need to figure out what you are looking for in the property. There is no way to physically see an off-plan property because it is yet to be built. Buying an off-plan property ensures that you get the best price, maximizing profits for you. Decide on the kind of community & property you want and search properties accordingly.

Off-plan property purchases can be challenging for new property buyers, and foreign investors may also find it hard to navigate the local real estate market. Registering with a reputable company makes things easier as they have experience in handling off-plan properties.

Describe your requirements to the real estate agents who will recommend off-plan properties that meet your preference. The agent will provide details about floor plans & amenities for the property. Video tours can make the exploration easier, and you can also visit the site of the properties.

Your agent will take you to the developer's office where you will sign a Sales Purchase Agreement (SPA) after selecting a unit. The initial deposit is made as per the developer's conditions, typically in the range of 10-20%. A passport copy is needed in this step. Additionally, a 4% DLD title registration fee & AED 1,000 Oqood fee are to be paid within 30 days.

You will make payments as per the plans specified by the developer until the property handover. Reselling is allowed during the contract period.

You will be required to visit the unit for handover, identifying any issues that need to be addressed. After making the final payment, you will receive your access card & keys. Ensure your agent is by your side to ensure a smooth transaction.