Off plan properties have been very popular over the past years, especially in Dubai wherein the off-plan property market is relatively young. The good thing about off-plan properties is that you can get really low prices and very good financing terms. The only issue would be that you have to wait for the completion of the property.
Now if you want to profit from off-plan property investment, then you have to know how to maneuver the real estate market. If you’re planning on buying good properties in the UAE like let’s say, off plan projects by Nakheel, then you need the help of good Dubai real estate agencies. Once you learn the ropes of acquiring the property, then we can go to profiting from them.
Here are 5 tips how:
- Work with a Good Real Estate Agency
First of all, the biggest risk of off-plan properties would be quality risk. The real estate company may show you the best looking model of their completed work. However, the completed work may not look like the model at all. By seeking the help of a good real estate agency, you can be advised on which projects you should consider and which to avoid.
- Go for Big Names
Another thing you have to consider would be the company behind the project. While real estate agencies know which companies produce the best properties, it’s good to do your own research, so you don’t solely rely on the agent. For instance, off plan projects by Nakheel are quite good because Nakheel is a reliable real estate developer with years of experience in the industry.
- Rent Out the Property
One of the pros of buying property at a very low price is that you can price rentals however you want. You can then aim for a high profit margin. It’s pretty wise to target expats who are working in the UAE. If you invest in affordable apartments near areas with a lot of expats, you can get quite a number of customers.
- Accumulate Capital Gains
One of the best things about UAE right now is that the real estate market is rising. So while you are developing your property, you may already see some capital gains. If you turn the property into a business (let’s say a store), then you can sell off your store for even more. The trick to getting a property that gives high possible return is to buy from a prime developer at a low price.
- Buy and Sell
Just like how there are many expats coming in, there are also a lot of investors coming into the market as well. If you prepare, you can already own some property and get a competitive advantage. Once the demand for property grows, you can start selling.
UAE has a very strong real estate market right now. If you want to profit from it, then you have to know how. Take advantage of the uptrend and try out the tips we mentioned above.
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