Many people ask why investing in off plan in Dubai can translate to peace of mind for many investors. It is considered as wise investment for those really focused buyers where they need to abide by smart regulations and a culture that enables them to acquire the perfect conditions for property development.
Dubai’s visitors may already be familiar with all the high-tech installations that showcase the developments in Dubai. They know the growing trend in property development in Dubai. The last quarter of 2018 ushers in 48,000 new apartments and villas in Dubai as reported at the 2017 Dubai International Property Show. Dubai’s demand for off plan real estate is continuously increasing.
Doing so comes with an attractive benefit which is the 10 to 30 percent off the total settlement. This is how the forward-thinking investors reap the great rewards of their investments.
The CEO of Azizi Developments, Farhad Azizi, said that the demand for the off-the-plan homes are not what they expected. He added that this is primarily because buying off -plan property presents wider options. Other factors that can affect the buyers’ decisions are on-time delivery and the quality of construction. He also said that more buyers are interested in furnished properties based on what was heard from MENA and buyers who live in Asia.
Azizi had also determined the reasons for this increase in purchases of off-the-plan properties. The Dubai government has well-polished regulations that enable the property developments to be delivered on time. The Dubai Land Development (DLD) has been great in regulating off-the-plan property buying. The regulating system implemented by the DLD is even-handed. A duty of care is enforced on behalf of the buyer whether that buyer is an international, resident, or local investor.
In Dubai, there are stringent laws and regulations that must be followed by developers which protect the buyers and enable them to have peace of mind. This consequently benefits the developers as well. According to Azizi, there are international organizations that look into the stringent rules of Dubai for off-the-plan developers as a model as they aim to replicate Dubai’s success in property development.
Learn more about off plan property investments, contact HBS Dubai now.