Off-plan property in Seascape in Dubai – is it a profitable investment?
Looking for an ambitious, new project in Dubai? The community Seascape in Dubai has already gained the popularity of successful investors. Let’s find out why.
The purchase of real estate off-plan means investing in a home that is on the stage or planning or under construction. In terms of property in the off-plan community Seascape in Dubai, UAE, this type of purchase is very attractive because you only have to pay 10% to 40% of the down payment. The remaining amount is to be paid upon the delivery of the house, which gives the buyer time to either accumulate the necessary funds or obtain a loan.
The risk for the buyer is that the promoter may go bankrupt before completion of construction, but in the UAE there is legislation that protects the rights of the buyer in such cases. Many developers, like Emaar Properties, who has an indisputable reputation with more than 800 completed objects, are also highly experienced.
Features of investment at the stage of construction in Seascape
Investing in apartments at the stage of construction in Seascape in Dubai has a number of advantages and features. Here are some of the most significant points you need to be aware of before deciding on a purchase.
- The cost of housing under construction is on average 15-20% lower than the finished object.
- Apartments in new residential complexes can be sold for 20-30% more expensive than the price at which you bought them.
- The developer Emaar Properties offers an advantageous payment with an individual payment schedule during construction.
- If you buy an apartment by installments, the down payment is from 10% of the total cost.
- Buying a property under construction allows you to change the layout and finish of the premises to your liking.
- The resort real estate market offers a wide range of apartments in modern housing, which allows you to choose the most suitable and profitable option.
- According to the documents you will be the only owner of the property, because before that no one lived in it.
The community Seascape in Dubai provides a long list of opportunities for investors and expats. However, there are certain inconveniences to face in the process of buying off-plan.
Inconveniences when investing in off-plan property
The biggest disadvantage of real estate off-plan is the necessity to wait until the completion of work and checking all paperwork. You as well as potential tenants cannot move into an apartment during the construction stage. So, there is a need to wait a certain period.
Accepting a housing unit upon completion has to be performed with the assistance of a professional. Due to the fact that the apartment has not been in the operation yet, it is impossible to identify some less vivid shortcomings during the preliminary investigation.
As Dubai is constantly developing new resort areas, some investors are afraid to face a lack of urban and transport infrastructure. However, it is impossible to imagine if we speak about Dubai. The community is located in a popular neighborhood Mina Rashid with well-developed transportation links, proximity to the city centre, and advanced infrastructure.
Purchase off-plan in Seascape in Dubai
The process of property buying is a multi-step process that requires certified help. Real estate agencies, like Dubai-Property.Investments can be useful assistants in performing a deal. The specialists will follow and control each step of the procedure to make it smooth and effortless.
Still, to make the scheme of buying more real, you can rely on the next list of basic stages:
- Reservation of an object and compiling the pre-contract.
- Signing the contract and making a down payment (10% – 40% of the cost). Read the contract carefully and make sure that each important nuance is mentioned. The developer must provide you with guarantees and insurance.
- After the delivery of the house you need to pay the full amount. Before paying, it is important to check all the documents on the delivery of the house and the technical condition of your real estate.
Off-plan real estate in Seascape opens up opportunities for buyers
Along with certain inconveniences, off-plan real estate in Seascape opens up numerous opportunities for buyers. Buying property under construction will help foreign investors not only save their capital, but to earn good profit. In order to do so, it is recommended to find an experienced real estate agent who will help you to choose the right property and facilitate the transaction.