Apart from ready-to-move-in and off-plan properties, the UAE also has offers for plots for sale. Earlier, these offers were limited only to UAE nationals. However, due to amendments in property ownership laws in different emirates during the past decade, GCC nationals were also allowed to buy a plot in the UAE. And more recently, foreigners who do not belong to the GCC countries can also buy plots in the country.
This has resulted in an influx of foreigners opting for the UAE to make it their second home. Investors, too, have shown their keenness in buying plots in Dubai, Abu Dhabi and major emirates to earn more ROI. This has resulted in the development of new residential properties laced with modern amenities. Investors, after buying the plot, are launching these properties to attract buyers and tenants to earn revenue.
Plots for different purposes i.e. the construction of a residential housing unit (townhouse or villa), building and commercial space are available in the UAE for property seekers. However, bear in mind that you will have to adhere to design and architectural guidelines to build a property. Generally, these guidelines vary from area to area. Thus, it’s best to know about these guidelines beforehand to avoid landing in hot waters in the later stages.
Popular Cities for Plots for Sale in UAE
While Dubai is the most popular choice for people looking for plots for sale in UAE, other cities, too, have abundant options. You can also look for plots for sale in Abu Dhabiand Sharjah, two other popular emirates in the UAE. It all comes down to your requirements and preferences.
Having said that, it is important to note that ROI is different in each emirate. The amount of revenue you will be able to generate may not be the same in Abu Dhabi or Sharjah. However, it also depends on the type of property you have constructed and the area it is located in.
Price Trends for Plots for Sale in UAE
The biggest benefit that is associated with buying a plot is that they are inexpensive. You can buy a plot now and start construction on it after a few years when you have sufficient funds. Or you can buy it to sell it at a high rate. Either way, it makes for a sound investment that will enable you to reap benefits for the time to come.
With foreigners also allowed to sort offers for plots for sale in the country, there is increased competition in Dubai real estate. Therefore, prices are expected to remain on the stable side.
The price of a plot in the UAE depends on numerous factors. These include:
Emirate and the City: It’s no secret that prices for plots for sale in Ajmanwill be less than the same in Dubai or Abu Dhabi.
Area: A plot that covers a large area will cost you more as compared to the one that covers a smaller area. Having said that, in some areas, a plot covering a smaller area may cost more because of the area’s popularity and future prospects in terms of growth.
Nearby Facilities: Facilities located around the plot such as eateries, schools, shopping centres, health care centres etc. also impact the price.
Steps to Buy a Plot in the UAE
Follow the steps discussed below to buy a plot in the UAE:
The process starts with finalising details related to the plot. For example, decide beforehand the location of the property i.e. city and the community. Also, finalise the area you require your property to cover.
Next, sort listings for plots for sale available in the particular city or area you have selected. Visit Zoom Property’s portal for this purpose as you will find the most sought-after listings here.
The next step is to visit the shortlisted plots. Although there wouldn’t be much to see, it is still recommended to visit it to get an idea about the area and nearby amenities and facilities.
It is important to verify the details before buying a plot. Do not sign the agreement or make a down payment until you have seen the title deed and verified other details.
Reserve the Plot
Once you are satisfied with the details, the last step is to reserve the plot under your name. This step will require you to sign the agreement and make a down payment. You will also be required to present your valid Emirates ID and passport to complete the proceedings.