It’s no secret that the UAE real estate sector is thriving. Although it was temporarily impacted by the novel coronavirus, the timely actions taken by the government and flexibility shown by the developers ensured quick recovery. This doesn’t mean you should miss out on this opportunity to enter the UAE real estate market. However, you may have to alter your plan a little. Instead of buying ready property, you can sort through offers for plots for sale in UAE and settle for the one that matches your criteria in terms of location and size and meets your budget.
Property rates are still not at pre-COVID levels; they are relatively lower. However, experts believe that it’s a matter of a few months that a significant surge in property prices will be seen. Needless to say, it’s the right time to take the plunge and invest in the real estate sector in the UAE. Having said that, it isn’t that simple. Since the global pandemic greatly impacted the purchasing power of people as businesses were shut down, and there were downsizings as well, not many are in the position to make huge investments.
Read on to know whether buying a plot in this region can prove to be a fruitful investment for you or not:
Inexpensive plots for sale
The most prominent feature that goes in favor of buying a plot in the UAE is its low price. As compared to their ready and off-plan properties, you can find offers for plots of sale at significantly inexpensive rates. The reason is obvious; ready homes, as their name suggests, are fully ready to be moved in. The buyer has made the payment and completed all the formalities, they can move into the property without any ado.
Off-plan properties, on the other hand, are under construction. The floorplan and everything else is finalized. Only the construction part is left. The timeline for completion is also provided to the buyer. Lastly, a plot is just a piece of land. This is why it is inexpensive as compared to other property types.
Part of New Developments
Another benefit of settling for a plot is that you can buy it in newer developments that are expected to grow economically in the near future. Various communities in Dubai, Sharjah, and Abu Dhabi have offers for plots for sale. You would select a location that is convenient for you and secure a piece of land in a soon to be developed locality at inexpensive rates.
Better in Terms of ROI
Plots can offer better ROI provided you have selected the area carefully. As they are available at rather inexpensive rates, you can resale a plot when the property rates increase in the time to come. Also, you can construct a home or shop on the plot and sell or put it on rent to earn ROI.
A Personalized Touch
There are abundant options for you if you are looking for plots for sale in UAE. Firstly, you can buy it either for residential or commercial purposes. Then, there are choices available in terms of the area they cover.
If you have purchased a plot for constructing your home, you can have the liberty to personalize it the way you like. For example, you can follow a particular architectural design and make it stand out from the rest of the residences located in the area. Said that, bear in mind that some localities require the buyers to adhere to the community guidelines when constructing a home. Make sure to know and understand them fully when buying the plot, to avoid landing in a troublesome situation in the later stages.
Options for Everyone
Offers for buying plots in the UAE were earlier limited to the locals only. However, after a few amendments during the last decade, GCC nationals were also allowed to buy them. Now, foreigners, who do not belong to GCC countries, can also buy sort through offers for plots for sale but in certain areas only.
All in all, it is safe to say that buying a plot in the UAE certainly makes for a fruitful investment. However, it is also important to consider all the vital factors when making this investment to ensure you have made an informed decision.