Off Plan Listing

Now is the right time to buy an off-plan property in Dubai. Buying off-plan property in Dubai can be a good investment due to lower prices, flexible payment plans, and high potential ROI.

Developers often offer incentives like post-handover payment plans and waived fees, making it attractive for buyers. However, risks include delays in construction, market fluctuations, and the wait time before generating rental income. To minimize risks, buyers should choose reputable developers and verify RERA registration.

You can obtain a mortgage for an off-plan property in Dubai, but there are certain conditions. Banks in the UAE typically finance 50% of the property value for non-residents and up to 80% for residents, with financing generally available only once the project is at least 50% complete. Some developers also provide post-handover payment plans, which can serve as an alternative to traditional mortgages. To be eligible, you must meet income and credit criteria, and the project must be approved by the bank.

 Yes, you can sell your off-plan property in Dubai before completion, but there are conditions. You typically need to have paid a significant portion of the property price (usually around 30%-40%) before selling, and the property must be registered with the Dubai Land Department under the Oqood system. There are also transfer fees, including a 4% DLD fee and potential developer admin fees. Selling an off-plan property can be profitable depending on market demand and the progress of the project, so it’s important to review your contract and market conditions before making a sale.

If you can’t pay for your off-plan property in Dubai, there can be serious consequences. The developer may issue a notice of default, and if payments are not made, they can terminate the contract. Depending on the terms of your agreement, the developer may keep any amounts already paid as part of a penalty. In some cases, they might initiate legal action to recover the remaining balance. It’s important to communicate with the developer if you’re facing financial difficulty, as they may offer a solution like an extended payment plan. Additionally, failure to pay could negatively affect your credit score and make it harder to secure loans in the future.