Off-plan properties have seen a rapid increase in popularity in recent years. But what exactly is an off-plan property and what are the pros and cons?
Off-Plan property is a property before a structure (such as a house or a residential complex) has been constructed on it.
An off-plan contract is called a Sales Purchase Agreement (SPA). In this document the following details (among others) are present:
When you buy a house off-plan, it means that the building has not yet been completed at the moment of the purchase, or the construction hasn’t even begun. Often these properties are bought directly from the developer and in most cases, buyers will have to pay a 10-20% downpayment while also having to sign a Sales Purchase Agreement (SPA). The remaining payments depend on the agreement with the developer.
Off-plan properties in Dubai are all properties that you can buy before construction or when under construction. At Korter you can simply use the off-plan filter and you have access to the current supply of off-plan properties in Dubai.
Borough | Average price/month |
---|---|
Umm Suqueim | 1 465 AED / ft2 |
Dubai Harbour | 2 235 AED / ft2 |
Al Sufouh | 2 544 AED / ft2 |
Palm Jumeirah | 3 115 AED / ft2 |
Dubai Media City | 1 968 AED / ft2 |
Emirates Living | 1 968 AED / ft2 |
The World Islands | 3 717 AED / ft2 |
Al Barsha | 1 013 AED / ft2 |
Jumeirah Bay Island | 3 046 AED / ft2 |
Dubai Marina | 1 890 AED / ft2 |
Jumeirah Beach Residence (JBR) | 2 323 AED / ft2 |
Locality | Average price/month |
---|---|
Sharjah | 719 AED / ft2 |
Ajman | 502 AED / ft2 |
Ras Al Khaimah | 444 AED / ft2 |
Fujairah | 1 203 AED / ft2 |
Abu Dhabi | 1 164 AED / ft2 |