We are one of the top real estate agencies in Dubai Lannhill and in this article, we will explain why you should buy a house in Dubai. Some experts are saying that prices will have a drop this year so 2017 is a perfect time to get yourself a home.
First of all, off-plan is making comeback. Getting a house off-plan basically means before the building is finished. It was stopped during the financial crash however now it is coming back.
You do not need as much money as you think. In many reasons down payment goes as low as 20 % of the initial payment. A lot of developers have understood that not so many people have 50 % cash to pay for the property. That’s why the maximum first payment will be no more than 25 %.
Let’s come back to off-plan properties because buying this type of property is cheaper than “ready-to-move-in” property. However, there are of course more benefits of buying ready to move in properties. Depends on what do you prefer to move in as soon as possible or to save a little money.
Good news that there are a lot of reputed developers in the business. There is a potential stumbling block that future buyers can face when they are purchasing off-plan properties in Dubai, as banks will not lend to all off-plan projects. The main decision comes from the developer and their agreements with banks. If we are talking about reputable companies obviously, they are recognized in the bank and it is easier to get a mortgage from them.
Last but not least, but only legit developers can advertise the property for sale. New regulations now that developers and brokers require getting approval from Dubai Real Estate Regulatory Authority before they advertise property in the media. The new regulation is aimed at cracking down on fake property ads protecting both buyers and genuine developers.