Bullet-Point Property: Dubai No. 78

This week, an investor told me that the single most important resource when buying a property in Dubai is a knowledgeable Real Estate Agent who you can trust.

Naturally, I agree……….well I would, wouldn’t I?

You may wish that it wasn’t so, but an agent is totally necessary when buying or selling in the secondary market, and in my opinion, they are also super important if not essential when buying off-plan. 

If you know the market inside out and have a strong relationship with your developer, you could manage without an agent to counsel, recommend and support you until the day that you receive your keys, it's only then that you will need an agent to find a tenant or buyer.

Each time that I hear tales of mis-selling, I become more convinced that an experienced agent’s expertise and market knowledge is vital to cut through a developer's sales and marketing spiel.

It's obvious I know, but we need to remind ourselves that all developers are 100% programmed to sell only their own properties. 

Your trustworthy and loyal, independent Real Estate Agent will listen to your plans, expectations and desires and then show you all the options available in the market, explain each developer’s process and reputation, answer all your questions honestly and help you to select the best available property that works for you. 

We go into battle for you and support you before the deal is signed and then all the way through construction to completion, handover, snagging, managing, renting and resale.

Enough of this showboating.

I should get on with this week's Bullet Point Property (BPP) email.

• The first residential buildings to be completed and handed over in Dubai South will be phase one of MAG5 Boulevard located close to the Expo 2020 site and the new international airport (largest in the world). The developer has informed us that the first 5 of their 13 buildings within the gated community will welcome residents in Q3 2018. There isn't much else available in the area apart from the Dubai Investment Park across the road, so we expect these to sell fast as some of the cheapest apartments available in all of Dubai. We have some 1,000 sq. ft. two bedroom freehold apartments at just AED 750,000 or GB£ 150,000. Pay 20% + 4% DLD + AED 5,000 (GB£ 37k) now and 80% (GB£ 112k) on completion See the brochure here

• Just when you thought that there were no more building plots left within the square kilometre at the centre of Dubai, Emaar has announced the launch of one of the highest residential towers in Downtown. The Grande at the Opera District has 78 floors of one, two and three bedroom premium apartments and will be one of the last off-plan investment opportunities in the area. See the brochure here

• We still have some apartments exclusive to us and at launch prices in Belgravia Heights 1 in Jumeirah Village Circle, a studio at AED 514k (GB£ 103K), one beds from AED 760k (GB£ 152k) and two beds for circa AED 1m (GB£ 200k). Check the brochure here

• Dubai Properties are offering to waive most if not all of the 4% Dubai Land Department (DLD) fee for purchases made during Ramadan on the majority of their projects. We like their Amaranta Townhouses in Villanova which start at AED 1.195m (GB£ 240k) 

• Bloom Towers in Jumeirah Village Circle have studios starting at AED 424k (GB£ 85k) and one beds at 567k (GB£ 113k) – Pay 10% + 4% now, 10% in 12 months, 10% in 24 months and 70% on completion - there are some offers available now for a limited period

• Ellington's Ramadan offer has a 4% DLD waiver and payment plans of 30% during construction and 70% on handover for two of their projects. For an excellent "buy to let" in a central city location surrounded by greenery, we have Wilton Terraces in MBR City with one beds starting at AED 1m (GB£ 200k) and two beds at AED 1.5m (GB£ 300k). For the best address in the centre of Dubai and near to the Burj Khalifa then we have DT1 in Downtown- some superb one beds at just under AED 2m (GB£ 400k), two beds at AED 3.2m (GB£ 640k) and three beds at AED 4.8m (GB£ 960k). View the DT1 Brochure here and the Wilton Terraces brochure here 

• I shall be in the UK from June 13th to the 25th, touring the country and discussing Dubai property in one to one meetings, please let me know if you are interested in seeing me and I will be in touch so we can confirm a day, time and venue.

With best regards from Steven and the Elite Sales and Rental Team