Charges on properties are pushing a lot of people to become a landlord. Renting an apartment might be an excellent choice towards having an apartment to live, but you have to meet up with the demand and requirement of the landlord. From experience, it looks so difficult for some people to have their house while still paying a rental fee.
But with the off plan property strategy, one can quickly become a potential landlord while still living in a rented apartment. The off plan strategy gives one the platform to diversify one's income thereby investing in some other things while the building project is still in progress.
Here are the reasons to consider off plan property as your next investment in Dubai.
Developers Modify The Risk
The secret about off plan property is that buyers have nothing to lose because developers are to ensure there is little or no risk about the project. Most of the chance that has to do with off plan properties falls on the developers and not buyers.
The developers will pitch the project to you and will make it known how long it will take to complete it. It is the responsibility of the developer to see to it that the project is completed within the time frame without any issue or setback.
Apparently, it has been considered as risk investment in the past but with stat showing above 20,000 sales in 2017, it is a sure way to have your apartment, but there are lot of things you have to consider such as dealing with a suitable developer that can choose the right location and do research on the current market value.
Return On Investment
Investors get to benefits from the increase in return on investment (ROI). This happens because the property will appreciate the completion of the building. It is a lucrative business, and it is much easier to do for anyone even those on low incomes.
There is an excellent advantage for investing on the off-plan property. Let’s take, for instance; you get a property through the off plan strategy, and within the space of three to four years, your developer completed the building.
By the time the building has been completed, the market value must have risen by then, and if you decide to sell the property, it is sure you will have more profit from the sale. You can as well rent it out and make it a monthly source of income. Within the space of some months, you will realize the money invested and additional money which will serve as your profit.
Flexibility Payment
If you don’t have the outright price to get a house, the best means to go about it is through off plan strategy because you don’t have to pay an outright fee before you become the owner of the property.
The strategy gives room for investors to pay the fee over the stipulated years given for the completion of the building. One can start with small amount and then keep up with the payment as the project gets to other stages.
With Dubai encouraging expats to become a property owner in the city, off plan is the best way to get your dream home but you have to consider lots of things such as the price, the payment plan, location and the type of building that will always be in demand.
Government Policy
In the year 2017, over 20,000 properties were sold through the off-plan property, and that has led to UAE government implementing VAT on properties. Once you have your property secured under the government policy or rule, you have nothing to worry about.
Your developer to ensure that the UAE property doesn’t violate the government policy for property and once that is strictly considered, your property will continue to exist and bring more money as long as Dubai keeps existing.
In conclusion, nothing is so wrong about investing in properties even if you have one already. It is a business that will never run at a loss. So on the off chance that you want to invest in UAE properties, I suggest you give off plan strategy a trial.
I hope you enjoyed this article about reasons to consider off-plan property investing in Dubai.
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