Guide to Buying Property on the Resale Market in Dubai
By Firas Al Msaddi on Friday, 26 July, 2024
When considering purchasing a property directly from a real estate developer in Dubai, it's crucial to follow a systematic approach to ensure you make a well-informed decision. Here are the key steps to consider:
Table of Contents
Market Comparison
Research the prices and availability of units within the same project and similar projects in the resale market. This helps you understand what you can get for your money on the resale market.
Evaluate Multiple Projects
Identify 2 or 3 projects that align with your investment criteria. Compare these projects to determine which offers the best value for your investment.
Track Record of the Developer
Investigate previous projects delivered by the same developer to assess their reliability and quality of construction.
Land Assessment
Examine the land where the project is to be constructed, ensuring it is suitable and in a desirable location.
Adjacent Lands
Check the neighboring lands to understand the potential for future development and its impact on your property.
Registration Status
Verify if any units sold in the project are registered with the Dubai Land Department via DXBinteract.
Experienced Real Estate Agent
Engage a seasoned real estate agent who can guide you through the investment journey. Ensure the agent understands both the off-plan and resale markets, as well as the rental market, to maximize your profit.
Prime Units
Aim to secure the most prime units in the project, as this is a significant advantage when buying directly from the developer.
Payment Security
Ensure your initial payment is directed to the project’s escrow account, not the developer's private bank account.
Connecting with Recommended Agents
Useful Resources
Table of Contents
- Market Comparison
- Evaluate Multiple Projects
- Track Record of the Developer
- Land Assessment
- Adjacent Lands
- Registration Status
- Experienced Real Estate Agent
- Prime Units
- Payment Security
- Connecting with Recommended Agents
- Useful Resources
Market Comparison
Research the prices and availability of units within the same project and similar projects in the resale market. This helps you understand what you can get for your money on the resale market.
Evaluate Multiple Projects
Identify 2 or 3 projects that align with your investment criteria. Compare these projects to determine which offers the best value for your investment.
Track Record of the Developer
Investigate previous projects delivered by the same developer to assess their reliability and quality of construction.
Land Assessment
Examine the land where the project is to be constructed, ensuring it is suitable and in a desirable location.
Adjacent Lands
Check the neighboring lands to understand the potential for future development and its impact on your property.
Registration Status
Verify if any units sold in the project are registered with the Dubai Land Department via DXBinteract.
Experienced Real Estate Agent
Engage a seasoned real estate agent who can guide you through the investment journey. Ensure the agent understands both the off-plan and resale markets, as well as the rental market, to maximize your profit.
Prime Units
Aim to secure the most prime units in the project, as this is a significant advantage when buying directly from the developer.
Payment Security
Ensure your initial payment is directed to the project’s escrow account, not the developer's private bank account.
Connecting with Recommended Agents
Useful Resources
- Newprojects.com: View all off-plan projects on one platform.
- DXBinteract.com: Check property sales and rental prices in Dubai.
- famProperties.com/investment: View the average price per square foot across Dubai.
- famProperties.com: Find deals from developers and the resale market.
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