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It is a fact that off-plan projects in Dubai have become a hot spot for all real estate investors. However, you might need to discover the way the golden visa rule can affect purchasing an off-plan property project in Dubai.
Off-plan real estate in Dubai is a desirable option for potential buyers hoping to obtain the desired golden visa for the UAE. With several well-known projects scheduled to be finished shortly before Expo 2025, you can take advantage of excellent rental yields, capital appreciation, and residency eligibility by making well-timed acquisitions that coincide with filing your visa application.
Well, be that as it may, if you are buying an off-plan property in Dubai, you need to know about the golden visa rule. The reduction in the minimum initial amount necessary to qualify for the Golden Visa has had a significant effect on a large number of investors. The recent regulatory change has given Dubai property buyers more options.
You need to know that you can now apply for the Golden Visa without depositing a minimum of AED 1 million. This regulatory change will benefit the state’s economy by attracting many investors. Additionally, purchasing off-plan real estate in Dubai is a fantastic opportunity to make wise investments.
Buying Off-plan Property in Dubai for Golden Visa
Purchasers of off-plan real estate in Dubai may now apply for UAE Golden Visas if their investment is valued at least AED 2 million. Certain real estate brokers and developers may suggest to immigration officials that these buyers meet the investment requirements and are eligible for a ten-year resident permit. Developers are forming internal teams to interact with government agencies and advise investors on the steps required to participate in the Golden Visa scheme.
According to real estate brokers in Dubai, the new laws regarding the five- and ten-year visas went into force on October 3rd. Even though you can invest in the off-plan market to get the most out of your money, you should consider some advice before purchasing off-plan real estate in Dubai. These are a few facts you need to know while buying off-plan projects in Dubai; however, you will need to know about the benefits of such property.
A Few Benefits of Buying Off-plan Properties for Golden Visa
Undoubtedly, investing in off-plan properties in Dubai is a prosperous offer for all investors. Thus, if you are considering buying an off-plan property, here are a few benefits you might need to know.
Secure The Property at Today’s Price
By purchasing real estate before it is finished and offering an enticing payment plan during construction, you may guarantee residence at today’s pricing. Acquiring real estate today enables you to take advantage of future financial gains, as property values are expected to rise in the lead-up to the Expo 2025 World Fair and beyond.
Off-plan Properties Do Often Come with Incentives
Off-plan properties sometimes offer incentives such as fee exemptions, rental assurances, and value-added furniture packages. Developers could also provide incentives like low down payment plans and discounts to encourage sales.
Regulations Help Protect the Buyers
New rules require developers to register projects and deposit money in escrow accounts, protecting off-plan buyers. In addition, buyers are entitled to withdrawal periods if a project is postponed or cancelled.
Ways to Buy Off-plan Properties in Dubai
If you hold a Golden Visa in Dubai, you can definitely buy an off-plan property. But there is a distinctive way to achieve it. Below are a few ways to buy an off-plan property in Dubai risk-free.
- Find a Reputable Developer: Do your homework on developers and their track records of completing projects on schedule. Examine industry ratings and evaluations. Visit their sales centres to view specifications and floor layouts.
- Know Your Unit: Examine the floor plans of the developments you like, then select a unit that meets your needs. Think about things like the number of bedrooms, the layout, and the facilities. Strike the best deal you can.
- Time for Down Payment: A down payment of a certain amount, usually 10% of the purchase price, is required upfront. Throughout construction, the remaining sum will be paid in instalments. An escrow account serves as security for these payments.
- Apply for The Golden Visa: Now, you can apply for a 10-year golden visa through the General Directorate of Residency and Foreigners Affairs (GDRFA) if you are the legitimate owner of property in Dubai valued at least AED 2 million. You are able to work, reside, and study in Dubai with your golden visa.
These are a few steps that you might need to go through if you are considering buying an off-plan property in Dubai. In that respect, you must know that to secure the golden Visa, you will secure the 10 years of citizenship as well. Be patient throughout construction, conduct extensive research, pick a reliable developer, and closely read all contracts and payment schedules. Your golden visa will pay you rich dividends.
Dubai Off Plan Properties & Projects- Falcon Premier Real Estate Company in UAE
A Few Tips to Choose the Right Plan Property
If you are thinking of investing in a property, you need to know the right one. But how do you know? Paying heed to a few tips mentioned below may help.
- Assess The Reputation: Select a respectable developer with a track record of successfully completing excellent projects on schedule. Examine the developer’s finished building portfolio to gauge their calibre.
- The Amenities: Choose a property in a neighbourhood with solid residential demand and potential for capital growth. Seek easy access to places of employment, schools, medical facilities, food establishments, retail centres, and transit.
- The Plan of the Payment: Select a payment schedule that you can stick to, whether instalment-based or lump sum-based. Instalment options provide more flexibility, but lump sum payments usually offer the most significant discounts.
These are a few facts that you need to know while buying an off-plan property in Dubai. Apart from applying for a Golden Visa in Dubai, you might need to follow the steps below. It is best to take guidance from a professional for any assistance.
Company Bio
Falcon Premier Real Estate is one of the leading real estate developers in Dubai, with a glamorous resume of exquisite properties. They are not just developers but have taken the living standard into the future.
