As one of the fastest-growing real estate companies in the UAE, we have sophisticated residential brokers specializing in all of Dubai’s localities. Additionally, Mi Casa has experts in the technical fields of commercial building sales, plots sales and land developments, consolidations, conveyancing, joint ventures, and complex transfers. If you choose to engage with Mi Casa, we can guarantee that you will receive the finest customer-focused, transparent and productive real estate services.
Property investors like to buy real estate in the hope of producing substantial capital gains. Also, there may be many opportunities for capital growth in an emerging real estate market such as Dubai, with a development cycle of usually 12 - 24 months. Buying off-plan property has its risks and rewards. The main advantage is typically a lower price.
Since October 2016 regulations came into effect, which requires developers and brokers to get approval from Dubai’s Real Estate Regulatory Authority (RERA) before they advertise the property in the media. This aimed at cracking down fake property ads and protecting buyers and genuine developers. Buying off-plan allows investors to arrange their finances better and means they don’t have to be burdened with a loan for the whole amount of the property. Investors who buy off-plan property can only pay a minimum deposit, such as 10 or 15 percent of the selling price, to secure such property, which allows investors to sell the property as market prices rise.
In most cases, whether dealing with a developer or a real estate agent, an amount between two to five percent of the selling price is expected to be paid in addition to the property price. Off-plan property value starts to rise when the real estate project is partly completed. The data published by the Dubai Land Department (DLD) showed that sales of off-plan properties in Dubai exceeded 25, 000 units last year.
Choosing a reputed developer that the banks recognize will also ensure your investment is protected from rogue developers. Also, companies such as Emaar and Meraas choose areas for new investments that may be less risky than others.