News Insights

No doubt, Dubai’s property market is thriving with a Buzz! According to Recent insights, Real estate analysts expect continued growth in Dubai’s property market, with significant increases anticipated through 2024. This thriving real market has made potential buyers wonder whether to invest in an “off-plan” property (under construction) or a “ready” property (completed and available now).

Off-Plan Properties – Owning the Future (with Potential Risks)

Lower Entry Point: Off-plan properties are usually cheaper than completed ones, making them attractive options for first-time buyers with tight budgets. You can also get offers for flexible payment plans, spreading the cost over the construction period.
Potential for Capital Appreciation: According to Arab News, Dubai’s property market has witnessed strong growth in recent times. Buying off-plan gets you some benefit from this potential rise in value by the time the property is completed.
Modern Living: Many off-plan projects boast the latest designs and features, ensuring your property is up-to-date with the latest trends.

Important Considerations for Off-Plan Buying

Developer Reputation: Research the developer’s track record for completing projects on time and within budget. You may consider enlisting a developer with a strong presence in Dubai.
Market Fluctuations: The real estate market can be unexpected. There is a possibility that the value of the property may decrease between the time of purchase and completion, which could negatively impact your potential profit.
Delayed Possession: For plans investments, you may also face some construction delays. So, be prepared for the chance of moving in later than anticipated.

Ready Properties – Move-In Ready, Peace of Mind

See What You Buy: With a ready property, you can check the actual unit before you buy. You don’t need to rely on brochures or models – you’ll know exactly what you’re paying for.
Start Renting Immediately: Ready properties enable you to get some rental income right away, making them a good option for investors.
Established Communities: Ready properties are usually located in developed areas with existing amenities like schools, shops, and parks.

Things to Keep in Mind – for Ready Properties

Higher Price Tag: Ready properties are costlier than off-plan ones. Be prepared for a larger upfront investment.
Limited Customization Options: With a ready property, what you see is what you get. Major changes may not be possible.
Evolving Market: Ready properties might not experience the same level of capital appreciation as off-plan ones, depending on market conditions.

The Final Choice Is Yours to Make!

So, no, if you choose off-plan or ready, it relies on your individual goals and risk tolerance. For budget-conscious buyers seeking potential high returns on investment, off-plan might be ideal. For those who are looking for immediate possession and a proven product, ready properties could be the way to go.