Dubai’s real estate market is a favourite amongst many investors for its off-plan launches and its potential however, not everybody thinks that it is a wise investment decision, there are several misconceptions about off-plan properties. These myths deter investors from setting foot into the world od off-plan investments. Let me debunk some of the most common misconceptions for you and tell you why you should explore the world of off-plan properties as a first time buyer or an expert.

Myth 1 – Riskier than Secondary Properties

If we speak about the most common myth its that off-plan investments are a lot more riskier than investing into secondary (ready) properties. Although every investment you make be it stocks, bitcoins or properties do carry risk, off-plan properties if chosen from good developers and in a good /high potential area can be a secure investment. Reputed developers in Dubai offer value as well as safety such as government backed regulations and Escrow accounts to protect your hard-earned money. If you see in the long run, off-plan properties have the added benefit of higher capital appreciation after their handover.

Myth 2 – Long wait for handover

A lot of clients choose secondary units in Dubai only because they believe that off-plan properties take a long time to be handed over. Although some natural circumstances might delay handover time there are a lot o developers who complete development in between 1-3 years. If that isn’t enough, some developers also offer you guaranteed rental till completion If you pay in full. Waiting for a brand new property with brand new facilities, features, trends and technology is I believe worth the wait. Now let’s say you buy land and build yourself a villa that’s going to take a while too isn’t it? If you want an immediate ROI then I advice you to check with the developer to see if they have rental benefits or you can simply contact me.

Myth 3 – Financing is easier with Secondary Properties

It is just as easy to score a good payment plan or mortgage for your off-plan property as it is for secondary, that is if you have good finance credentials. You will be able to find a lot of banks in Dubai who offer mortgage for off-plan properties. However, a lot of developers have payment plans that ease ones financial burden- these also come with post-handover payment terms that make life a lot easier. But yes, financing your off-plan property is just as easy or difficult as a secondary property.

Myth 4 – Delayed Returns on Investment

Most people believe that Off-plan properties in Dubai are a long-term investment, they do not offer immediate returns to investors. This is untrue. If you strategically plan to buy an off-plan project during their launch you can sell the unit for a profit even before completion. For this you need a real estate agent who will get you one of the best units for you during launch. If you choose the area wisely then you are bound to get strong and consistent rental yield.

In conclusion, If you choose an off-plan property with diligence you are bound to get good capital appreciation and ROI. You can ask an off-plan real estate specialist to help you find a property, one who will give you good informed advice and book a unit for you in a promising property during their launch date so you get the best unit at the best price.