Step-by-Step Guide to Purchasing Off-Plan Property in Dubai

Dubai's off-plan properties are attractive for potential investors seeking the UAE's sought-after golden visa.

 High-profile developments are planned to be completed just before Expo 2025. You can gain from capital appreciation, premium rental yields, and residence ability through smart purchases timed to the visa application. Seeking help from professional realtors in Dubai is recommended.

We will discuss the steps to buy off-plan property and will share a few tips to consider.

Steps to Follow

To buy off-plan real estate in Dubai to obtain golden visas, Follow these steps:

• Find a Reputable Developer

• Do your research thoroughly on developers and their track record in delivering projects on time, according to what they promised. Read reviews and ratings of the industry. Visit their sales offices to see the floor plans and specifications.

• Decide on a Unit

• If you come across a building you like, review the floor plans before settling on the one that best suits your requirements. Take into consideration factors such as the number of bedrooms as well as the orientation and other amenities. Find the lowest price you can. Get help from professional realtors in Dubai.

• Sign a Sales and Purchase Agreement

• When you reserve your apartment after securing it, you'll make an initial agreement outlining the conditions of the sale, including the sale price and the payment schedule. It's a legally binding contract; you should read the terms thoroughly.

• Make Down Payments and Installment Payments

• Paying a portion of the purchase price in advance is necessary to secure a down payment. It's usually around 10 percent. The remainder is paid in installments throughout the building process. An Escrow account ensures these installments.

• The Property is Completed and Transferred

• When construction is completed, and the property is given to you, you can make the final payment and get the title deed that permits you to have a renewable 10-year golden visa. You can get help from professional realtors in Dubai.

• Request your Golden Visa

• Suppose you are the legal owner of a property in Dubai with a value of at least AED two million. You can apply for a 10-year golden visa from the GDRFA—General Directorate of Residency and Foreigners Affairs ( GDRFA). Golden visas allow you to reside, work and learn in Dubai.

Follow these steps carefully and get you on the road towards acquiring an off-plan home in Dubai and securing the 10-year golden visa.

Do your research thoroughly, choose a reliable developer, pay attention to all agreements and payment plans and remain patient throughout the construction. The rewards you receive from the golden visa are worth it!

Tips for Selecting the Right Off-Plan Property for the Golden Visa

Suppose you are considering purchasing an off-plan home in Dubai to obtain the Golden Visa. In that case, several factors should be considered to ensure you choose the perfect property.

1. Developer Reputation and Reliability

Select a reliable developer with an established track record of success and high-quality projects completed on time. Check out the portfolio of buildings constructed to assess their standards.

Find out if they're listed on an exchange trading stocks that indicate good financial standing and a sense of accountability. Companies with a strong reputation can help you ensure that your investment is safe and that the project will be completed as stated.

2. Location and Amenities

Choose a property in a location in solid demand with the potential for capital appreciation. Ensure you can access employment hubs, transportation, schools, and healthcare facilities for eating and shopping.

Homes near recreation areas like golf courses, beaches, or parks can also retain value. On-site facilities like playgrounds, gyms, pools, and security for buildings increase the property's livability and resale value.

The Bottom Line

Buying off-plan properties in Dubai could be a wise decision to get a golden visa to Dubai in 2024 and beyond. With numerous new developments popping up throughout the emirate, you can buy real estate directly from developers before construction begins.

Be sure to select a location and a project that will meet your requirements and budget.

Check with experts to make sure your developer's contract protects you completely. 

Be careful and deliberate when you follow these steps to buy from a plan in Dubai.