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Under-construction apartments are those that are still under construction and have not yet been completed. These apartments usually have lower prices than ready apartments. Many people prefer to purchase this apartment so that they can customize the finishing to suit their lifestyle. Dubai's real estate market offers many opportunities for projects under construction. Imtilak Global offers you the best projects in the market.
- Advantages of Buying Under-Construction Properties in Dubai
- Buy Under Construction Properties in Dubai by Imtilak Global
Advantages of Buying Under-Construction Properties in Dubai
People prefer under-construction apartments for different reasons, here are some benefits of construction apartments:
Affordable Prices
They are less expensive than the completed ones. Buyers can save money when purchasing under-construction apartments in Dubai because the developer is still building the property and may need some cash to cover operating costs. As a result, developers may offer deep discounts or other incentives to buyers who purchase early.
Check out our offers for cheap apartment for sale in Dubai.
Customisation
You may want to personalise your apartment. These apartments offer fulfilling opportunities to people who want complete control over the final finishes. This can include choosing finishes such as flooring and countertops, as well as making other design decisions.
Appreciation
You may benefit from the property's value rising over time. The value of the property increases as it is completed and the surrounding area develops. This may help you sell your property for a higher price than you paid to make some profit.
Related: Investment opportunities in Dubai.
Newer Construction
Newer properties are typically in better condition and require less maintenance than older properties. New constructions also include modern amenities and features that older buildings may not have.
Flexible Payment
Developers in UAE often offer flexible payment plans to customers, making it easier for them to manage their finances. These options may include instalment or down payment plans, which allow buyers to spread their payments over a longer period of time.
Average Prices of Under-Construction Properties in Dubai
According to analysis from Dubai Land Department data, there was an increase in under-construction property prices by approximately 10%. Taking into consideration the market's current condition the average price for under under-construction apartment is AED 1.5 million.
Which is Better, Buying a Ready to Move or Under Construction Properties?
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factor
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Ready-to-move-in property
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Under-construction property
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Payment
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There are no building phases, therefore the buyer must have the funds in place.
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The buyer gets more time to spread out the payment, registration fees, stamp duty, and so on.
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Neighbourhood
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When you invest in a certain project, you will know who your neighbours are and what to expect.
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Many surprises may await you, which you will only discover after living in the property.
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Property prices
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You would not have to pay rent or any other expenditures incurred during site inspections.
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If you are renting, the weight of monthly instalments will be added.
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Ease of selling
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If desired, ready-to-move-in residences can be sold after a few months or years.
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If possession is delayed due to any reason, it is difficult to sell an under-construction home.
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Which is Cheaper, Ready to Move or Under Construction Properties?
Under Construction projects often cost 10-15% less than ready-to-move-in residences. The pricing difference between under-construction and ready-to-move-in houses can reach 30% in some situations, depending on factors such as location, project scale, and unit size, among others.
Top Under-Construction Projects in Dubai 2023
Dubai Urban Tech District: When finished, Dubai's Urban Tech area will be the world's largest urban tech area. The 140,000 sqm region will foster the development of urban-tech solutions.
Uptown Tower District: Built in response to growing demand for office and commercial space, the new Uptown Tower will feature three commercial towers.
Buy Under Construction Properties in Dubai by Imtilak Global
Azizi Venice 3
Azizi Venice is Azizi Developments' most recent project in Dubai South. The project's attractions include the Crystal Lagoon, a well-connected road network, and a temperature-controlled boulevard.
Binghatti Orchid
The Binghatti Orchid is an architectural masterpiece with a studio and 1-2 bedroom flats. Binghatti Orchid features an assortment of amazing amenities that have been thoughtfully created to improve the residents' quality of life.
Binghatti Gardenia
The project consists of an outstanding 29-story residential tower with an attractive design and visually acceptable facades, as well as balconies that elegantly overlap to provide each unit with breathtaking views. Residents in JVC enjoy both suburban quiet and city excitement.
Book a Free Consultation with Imtilak Global
Under-construction apartments can be a rewarding investment, but there are certain risks, such as delays. However, buying through a local agent reduces these related risks. Imtilak Global offers you the best opportunities to fulfil your needs and achieve your investment goals. We only deal with the top developers who have a track record of delivering successful projects. Contact us today for a free consultation on Dubai real estate.
Edited by: Imtilak Real Estate©
Update date: 2024-12-12
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