One of the foremost reasons why investors choose to buy off-plan property is due to the kind of profits it can bring even before the project is complete. Here’s a useful guide that can help you sell off-plan property.
Developers have certain resale restrictions in place for off-plan projects in Dubai, wherein you are only allowed to sell the property upon payment of a specific percentage of the purchase price.
The requirement is 30-40% of the property value, depending on the depending on your Sales and Purchase Agreement with the property developer.
According to the terms of the contract, this percentage can run even higher.
Selling your property is an important decision and there are several factors that must be considered to ensure that you get the best value for your property and to achieve a swift sale.
The market leads transactional activity and a good real estate broker will accurately appraise your home based on transactional data related to your neighbourhood and the type of property you have.
That being said, market data does not always recognise the capital value of the work that you have done to your home. Thus it is important to look into the recommendations of your real estate broker as you don't want to price yourself out of the market.
Once your home is on the market, the realisation marketing period (the marketing period before the home sells) in Dubai can differ from 2 weeks to 3 months plus.
Tenancy and rental laws in Dubai for applicable for commercial buildings and residential apartments and villas in Deira, Bur Dubai and freehold areas.
RERA - Real Estate Regulatory Authority which is part of the Dubai Land Department is a government agency which licenses real estate agents, brokers and developers and regulates all real estate activities in Dubai.
With effect from 14 March 2010, all rent and lease contracts for properties in Dubai must be registered online at RERA's new Ejari portal. From March 2017, a standard tenancy contract for Dubai rentals is available for download from the Ejari website: https://ejari.gov.ae/PublicPages/TenancyCertificate/PrintTC.aspx
Post-completion of the registration process, the attestation consists of 3 parts: