Address Residences DIFC is a new off-plan project launching within days in the financial district of Dubai. If you are interested to know more about it, please email here.
The project will feature high quality branded luxury apartments. Offering unparalleled capital growth opportunities with high returns on their money invested, Address Residences DIFC promises excellent returns to investors who take advantage of this thriving investment opportunity.
Off plan property investment works similarly to new build properties. An initial deposit of 10-30% must be given to secure your purchase, along with the 4% DLD registration fee. Then, the payment plan continues with flexible installments every 3 or 6 months during the curse of construction. Upon completion of development (which can range anywhere between 4 and 6 years depending on its scope), payment for remaining balance becomes due. In recent years, EMAAR’s payment plans have become more aggressive and often the remaining balance to pay upon completion is 10% or 20% only.
Investors can usually find off-plan properties at prices lower than current market value due to developers offering flexible payment options and the inflation mark-ups. Furthermore, the location is important as this will determine if the property increases in value; if it is situated in an area with rapidly increasing property prices then capital gains should follow more quickly.
Off-plan properties may also help lower maintenance costs, since they tend to be new and therefore less likely to require repairs or renovations in the near future.
Off-plan investments usually become profitable once their build is complete, which necessitates extensive research of both the developer and project, local property market conditions and legal safeguards before investing. Off-plan property investments should only be undertaken if long-term goals can be set and one can wait until completion.