Off Plan vs. Ready Property – Which is the Better Investment?
As more buyers enter the property market in the UAE, taking advantage of softening prices, the question then becomes, “What’s the best way to buy?”
The two main methods of buying a residential property in the UAE are either purchasing an off-plan unit from a developer or buying a ready completed unit off the market.
When it comes to buying property, there is no ‘one size fits all’ solution. Whether a ready unit or an off-plan property is the better investment depends entirely on your needs and accessibility to finance. If you’re looking for a place to live, a ready property would be more suitable as you can move in as soon as possible. If you’re looking for a property to rent out or sell, an off-plan property would be better as the amount required can be significantly less than an equivalent completed property.
We’ve put together a list of pros and cons for both Off-Plan and Ready properties to help you decide which type of property is right for you.
As you can see from the above infographics, both off-plan and ready properties have their benefits and drawbacks. Before deciding on a route to property ownership, it’s best to do your homework and find out what you need from your property. Steps like checking your financial situation over the next few years and future plans, looking into the developer track records are also vital before making a commitment.
Looking to invest in property in the UAE? Need expert advice on how to go about it the right way? Land Sterling’s expert team of property consultants is here to help! Send us an email at firstname.lastname@example.org or call us on +971 43 808 707 to find out how we can help you make the right choice.