There are several factors to consider when buying a property in Dubai. The decision to invest in the new or already established community is definitely among the most important ones. While some buyers prefer properties in already settled neighbourhoods, others choose to invest in off-plan projects.
Things to Consider
By choosing an established community you will, for instance, often benefit from its prime location and well-developed infrastructure. On the other hand, new communities come with better amenities and a wide range of units to choose from. “Newly planned master communities usually take into consideration proximity to schools, hospitals, places of worship, highways, and necessities such as grocery shopping and fueling stations. If they’re not in range, they will be constructed. Additional amenities such as on-site or nearby shopping, dining or transportation hubs are also beneficial”, says Jalpa Gajria, Off Plan & Projects Director at AQUA Properties.
Alluring Off-Plan Offers
An additional appeal of off-plan projects is their attractive payment plans. Buyers nowadays ask for the best value for their money. Furthermore, they will sacrifice the location, to get a brand-new unit with a much bigger built-up area, number of rooms and additional amenities in one of the off-plan communities.
“New developments and master-planned communities are built on a strong foundation, both literally and figuratively. Moreover, they are mostly up to the most current standards. Plumbing, electric and construction methodologies – including energy and environment efficiency – are all taken into account”, adds Jalpa.
Investors, on the other hand, need to make sure that the community they are investing in is going to be popular even after a few years. “With the current incentives in place, wherein investors can benefit from long, flexible payment terms, post-handover payments coupled with DLD waivers and service fee waivers, there is enough room for investors to turn a sound purchase decision to a profitable investment”, says Jalpa.
Making the Right Choice
With the upcoming Expo 2020 and several stimulating initiatives the government has implemented lately, such as long-term visa scheme, interest in investing in Dubai has increased. But who are the investors? “Seasoned Investors and first-time homebuyers who clearly understand the market movements, shifts and various influences that drive their own purchasing decision. Mainly, the key lies in having clarity on finances, affordability, risk exposure and choosing the suitable type of unit. In addition to choosing the right location and the right development that suits their investment needs”, clarifies Jalpa.
With new communities, such as Serena by Dubai Properties, MBR City and others, constantly emerging, Dubai’s real estate offer is further expanding. Long expected Serena owes her popularity to affordable spacious townhouses and Mediterranean inspired lifestyle. MBR City, on the other hand, offers an array of exciting features and facilities. In addition to, crystal clear lagoon, the world’s tallest tower and largest park, to name a few.
“Dubai Hills Estate is by far, the most popular and promising upcoming neighbourhood currently. Besides being located in the heart of Dubai – minutes away from Downtown Dubai and DIFC, it is in high demand. Moreover, the community’s masterplan, the infrastructure, the facilities, amenities and the golf course add to its appeal”, concludes Jalpa.