Things to watch when investing in off plan properties

In days before slump Dubai government successfully created the demand for the off plan properties in Dubai, which is very difficult. Investors traded off plan properties heavily before slump but when the global recession and slump covered the whole world, the off plan properties were first to get affected. The reason was that off plan properties does not physically exist and in days of recession it is really difficult to make the demand of something that physically do not exists.

Actually, off plan properties are never mend for short term profits. Off plan properties are always for the long term investment planning in which investor has no worries about the temporary phases of slump. Off plan properties have always remained attractive for buyers as the yield far greater results in long term. In here we will discuss some points which will help investors to make a well informed decision before buying.

Palm Jumeirah Dubai

Palm Jumeirah Dubai

Always keeps long term planning

Before even thinking about investing in off plan properties, keep in mind the long term planning. Dubai also offer employments and female models are perfect for hot shoots of advertisings and business events. Many managers, rich investors, real estate agents, book Dubai escorts at escort services in UAE. If you have misjudged off plan properties that they will yield good result in short time period like it does in old times then you are totally wrong. For short-term investment, try to invest in fully developed areas.

Checking the Reputation of Developer

If you are sure about investing in off plan properties then the first thing you need to do is to check the reputation of developer. Check the previous records of developer, how many projects he has delivered, and how many of them were on time.

Work on site

After recession, most of the projects in Dubai were halted, so do not forget to visit the site and check the work going on. Sometimes developers trick investors by showing them architectural drawings and other maps rather than showing them actual construction work going on. Also contact the RERA and confirm the status of the project, as all construction projects and their actual details are available on RERA.

Consider the Location

Location is also an important factor, as some projects are very far from the main city thus take too much time to get developed. Try to invest in off plan properties that are located near to the main hub of the city.

How to buy luxury villas in Dubai?

Buying property in international destination like Dubai is not a new trend. It has become fad to invest for long term over there. Dubai is synonymous with magnificent projects, high rise towers, worth seeing shopping malls and mega developments that have gained international fame due to its unique architectural features. Even though nowadays Dubai real estate is not having the same charm but still expatriates, foreigners and inhabitants want to capture the status of owning the property in Dubai. They all have hopes that it will regain its regime once again.

One of the very popular property segment in which many real estate brokers get inselling of luxury villas in Dubaiselling of luxury villas in Dubaivolve to make handsome commission is the selling of luxury villas in Dubai. It is a lucrative option to buy ready to move in luxury villas in an ideal environment with millions invested.

There are numerous options available in this type of property and a variety of architectural feats such as city luxury villas to beach front villas and luxury villas in different communities. Buying property in Dubai is not restricted to a particular social class or any specific genre but this property type becomes a little bit unaffordable for average income people. Many people have shown their interest and due to variety and availability of these villas many celebrities from different fields have already occupied places in different locations of Dubai.

Villas in Dubai

Villas in Dubai

Different kinds of villas in Dubai

There are different kinds of villas available in Dubai with multitudes of facilities like swimming pools, Jacuzzis, lawns, gardens and driveways. In recent times, the construction pattern is little bit changed and private pools are replaced by community swimming pools and podiums. Luxury villas that are fully furnished are in more demand as compared to unfurnished ones. The only problem is that most of the times furnished villas are only available for rent in Dubai and not for selling purpose. You can also go for the gated community option that offers different facilities along with good security.

Developers understand the growing demand of people in Dubai residential areas therefore they are trying hard to meet their needs. Whether you are looking to buy a luxury villa or get one on rent, you have numerous options out of which you can choose and contact the real estate agent to make deal on your behalf.

Performance highlights of Office market in Dubai

If you stay at the top of the Dubai real estate news, you might now that the residential sector in Dubai has clearly outperformed its office sector through out all the consecutive quarters of 2018. Those, who are satisfied about the current performance of Dubai real estate and predicting better times ahead, should not forget the root cause of real estate collapse in Dubai.

Lack of business opportunities brought the once spectacular Dubai real estate sector to death. The overall real estate market will remain poor unless government creates better employment opportunities in Dubai. The office market seems to be in pressure in Dubai, which clearly shows that the problem of unemployment still exists in the economy.

Office market in Dubai

Office market in Dubai

Though office rents in Dubai remained static through out all the quarters in 2018, yet the new office space constantly being added in the market is preventing the sector to show quick recovery. The lower demand and the high supply in the market is adding pressure to the vacancy rates. Based on the performance of the market during 2018, it is expected that that office market will continue to remain in pressure during 2019.

According to a new report, the Dubai rental rates remained in the range of Dh.1080 to Dh. 1940 per square meter annually during the fourth quarter of the previous year. Since, the buyers are now looking forward to having only quality properties so the offices in the prime locations outperformed the office in the secondary locations. The rents in the secondary locations dropped by around 11% in 2017 as compared to 30% decline recorded in the previous year.

Almost 58,000 square feet of the office space was added to the market during 2018, which highly increased the vacancy rates. Despite the situation, landlords are still hesitant to offer incentives to the tenants with only few landlords considering to offer rent free periods on long term tenancy contracts.

During the year 2018, approximately 750,000 square meter of office space has been scheduled for completion without any construction delays, which is expected to keep the office market in pressure through out the year. The vacancy rates would increase but they would not affect the lease rates unless government takes in time corrective action to fix the issue of oversupply in the office market.

Though the heavy supply would be added to the secondary office market, yet this oversupply if not controlled seriously cannot only deteriorate the office market in Dubai but it can also affect the residential sector of Dubai real estate. That would be the time when there would be nothing to cheer about Dubai real estate and to avoid it, government must block the news supply scheduled to add to the market during the year.