4 questions to ask a developer when buying real estate in Palm Jumeirah
Every buyer wants to choose the best, ideally suited to the requirements of the apartment. Everyone strives to make the most efficient use of available savings and avoid mistakes. However, often there is no experience in this matter, because purchase of real estate is not a frequent case. Buying investment apartments in Palm Jumeirah is a wise decision in terms of economic stability, political neutrality and absolute safety in the city.
Assistance of a real estate agency is obligatory to perform a successful deal. Still, a buyer has to build up a conversation with the developer correctly and find out all the necessary information. We have compiled a list of 4 essential questions to ask a developer before investing in apartments in Palm Jumeirah.
Can you submit the obligatory documents for the construction?
The first issue to find out is to check the availability of documents for construction. As a rule, reputable developers have no problems on this point.
Two main documents to check are:
• the documents on land;
According to the law, the developer has to own the land on which the construction has been carried out. It is important that the purpose of the land does not conflict with the nature of the work: if the land is given for commercial development, it cannot be used to build an apartment building.
• the construction permit.
The next obligatory document is a construction permit. If the company does not have it, it cannot carry out construction work. If the house is built without this document, the Land Department will not accept the construction.
The government of the UAE monitors all construction works in Dubai. So, it is very unlikely to start a construction without the necessary papers. Therefore, there is little chance to face the unreliable developer in Palm Jumeirah.
Do I have any guarantees about delivering on time?
Some investors prefer not to risk and invest into the already finished real estate. However, the government of the UAE is a reputable power that controls each developer and their relationships with property buyers. The luxury neighborhood Palm Jumeirah offers profitable off-plan apartments as well. Buyers can choose the suitable residential complex and invest in the construction right now.
If the builder does not hand over the property you have purchased in accordance with the terms of the SPA, you can demand that the company fulfills its obligations.
If the builder does not comply, you can contact the DLD and file a complaint. The DLD may try to settle the matter amicably between you and the builder. If there is no agreement between the developer and the buyer, the developing company has to return money to the investor.
What are the additional costs?
Deciding to buy real estate in Palm Jumeirah, it is important to evaluate the expenses. They include the cost of the housing, taxes, maintenance fees, utility bills, agent`s service, etc. The developer with an extensive portfolio of successful already operated objects will be able to count the approximate total sum. In such a way, an investor has time to calculate the expenses and correlate it with the budget.
What infrastructure surrounds the building?
The neighborhood offers exceptional recreational opportunities for its residents. Palm Jumeirah is characterized by an innovative developed infrastructure. Here are located such objects of infrastructure as chic private villas, expensive residences, shopping centers, entertainment areas, hotels, beaches and tourist facilities. This project has extended the coastal area of the UAE for 520 km. The Palm Jumeirah is a constant hallmark of Dubai.
Palm Jumeirah is an area of high tourist activity, so everyone who comes to Dubai will find what they need. A hotel stay, beaches, shopping, gastronomic delights, fun and entertainment for all tastes are available on the island. Due to the well-developed infrastructure, residents and tourists experience a high level of comfort, luxury and style.
The bottom line
The real estate agency Dubai-Property.Investments provides premium residences in luxury Palm Jumeirah for foreigners. High liquidity and considerable ROI of the apartments make out a profitable investment and a stable income.
Contact the real estate agent in Dubai for assistance, negotiate with the developer and invest in your successful future.
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