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Office No. 1509, Al Manara Tower
Business Bay, Dubai UAE
P.O.Box:123749 Dubai - UAE

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Dubai - UAE

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Which is better? Off-plan or Secondary?

    Mon  29-05-2023

There Are A Number Of Factors To Consider When Deciding Whether To Buy An Off-Plan Or Secondary-Market Property, Especially In Dubai Where There Is Such An Abundance Of Off-Plan Properties.

Off-Plan Properties Are Properties Marketed And Sold Before Their Construction, The Sale In Part Covers Their Construction. These Are Sold Either Directly Through The Developer Or, In Most Cases, Through A Real Estate Agency Like Seven Century Real Estate. They Are Often Sold At A Discounted Price, And Buyers Can Benefit From Flexible Payment Plans As Opposed To Mortgages. However, There Is Always The Risk That The Project May Not Be Completed On Time Or To The Agreed Specifications.

Secondary Market Properties Are Those That Have Already Been Built And Are Owned By An Individual Or The Developer. They Are More Expensive Than Off-Plan Properties, But They Offer The Peace Of Mind Of Knowing That The Property Is Finished And Ready To Move Into. Time Is Of Course A Big Benefit If You Need A Primary Residence To Move Into In The Coming Months Or Are Looking To Make Money Through Renting A Secondary Property In The Coming Months.

So, Which Is The Better Option? If You Are Looking For A Discounted Price And Flexible Payment Plan, Then An Off-Plan Property May Be A Good Choice. However, If You Want To Avoid The Risk Of Delays Or Construction Defects, Then A Secondary Market Property May Be A Better Option.

Here Is A More Detailed Look At The Pros And Cons Of Each Type Of Property:

Off-Plan Property Advantages:

  1. Discounted prices
  2. Flexible payment plans
  3. Opportunity to customize the property
  4. Brand new amenities and finishes  

Off-Plan Property Disadvantages:

  1. Risk of delays or construction defects
  2. Not yet ready to move into

Secondary Property Advantages:

  1. Ready to move into
  2. Wider choice of properties
  3. No risk of delays
  4. Known condition of the property

Secondary Property Disadvantages:

  1. More expensive
  2. Less flexible payment plans

Ultimately, The Decision Of Whether To Buy An Off-Plan Or Secondary Market Property Depends On Your Circumstances. There Is No Right Or Wrong Investment Only What Works For Your Needs, Budget, And Preferences. If You Are Still Unsure Which Type Of Property To Buy, Speaking To A Property Advisor Is A Good Idea. They Can Help You Assess Your Needs And Budget And Recommend The Best Type Of Property For You. Feel Free To Contact Our Team To Learn More About Your Investment Options.

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