Can I Buy Property in Dubai Off-Plan?

One of the attractive aspects of Dubai’s dynamic realty market is the ability to purchase off-plan properties, i.e., those still under development. This prospect offers potential buyers unique advantages, such as lower prices, flexible payment schedules, and capital appreciation ability. However, it also comes with specific considerations that are crucial to account for. For instance, you may not know if you can buy property in Dubai as a non-resident or how to choose a reputable builder. But don’t worry about that! Experts from Seven Lands are here to reveal all the essentials of purchasing off-plan properties in the UAE metropolis.

Can we buy property in Dubai: obvious benefits

There is hardly anyone who would not want to obtain residential estate in this vibrant city that develops by leaps and bounds. To understand why such an investment will be beneficial, we’d like to mention the key advantages you get:

Cost savings

Properties at the development stage come at more affordable rates compared to the finished projects.

Flexible payment plans

Developers offer to pay installments during the construction period, which eases the financial burden.

Personalized design

While an estate is under construction, you can influence its design by asking a developer to make changes.

Benefits from builder

Many developers offer attractive incentives, e.g., free maintenance for some period after the handover. 

Apart from that, off-plan projects often arise in new prime locations. Therefore, you can be a first mover, and while the area grows, your living standards will increase. Thus, you can buy real estate in Dubai, get access to premium amenities, and enjoy a luxurious experience that might not be accessible in a secondary market. Property value also gets more significant with time, allowing you to take profit from asset appreciation.

Who can buy property in Dubai?

The housing market in the city is open to an extensive range of investors. However, a reasonable question arises – can anyone buy property in Dubai? 

There are vital points detailing who can obtain the estate under development:

• UAE nationals: citizens of the Emirates have no constraints on purchasing property.
• GCC nationals: citizens of countries that are part of the Gulf Cooperation Council can also obtain property unrestricted.
• Foreign nationals: non-residents and expatriates can invest in accommodation in the freehold areas, including the most popular districts.

Considering this, can you buy property in Dubai during the construction stage? Yes, but there are specific conditions. For instance, you must provide certain documents that include:

• Emirates ID for residents and passport for foreign buyers.
• Certificate about the absence of law violations for non-residents.
• Financial proof to demonstrate you can pay for your purchase.

Can we buy a property in Dubai under construction by only providing these documents? No, you must also have specific approvals from the developer, such as the No Objection Certificate. This way, it is essential to choose a reliable builder who provides all the necessary documents upon your request and whose projects are registered and approved by the Real Estate Regulatory Agency.

Apart from that, remember the mandatory charges. You must pay for the DLD registration, typically 4% of the purchase value. Administrative fees may also be charged during the registration process. 

How to buy under-construction property in Dubai: key considerations

Before investing in an off-plan project, learn the essential nuances that will help you make a winning choice. 

1. Start with the developer’s reputation and the history of its past projects. 
2. Check the financial stability of the builder and the legitimacy of the project. 
3. Study the payment requirements, including installment schedules, for stressless financial planning.
4. Ensure that the proposed design meets your requirements and that the materials are of high quality.
5. Verify the completion date and get familiar with the handover process.

Can I purchase property in Dubai? You ask, we help!

To consider all the nuances when buying residential property at the construction stage, it is better to reach out to professionals, such as experts from Seven Lands. We offer prime estate from reputable developers, thoroughly study all legal aspects, provide transparent information about payments, and support you entirely until you finalize the deal. Contact Seven Lands to make a guaranteed successful investment!