Yes, it is possible to sell an off-plan property during the construction phase in Dubai. However, there are a few factors to consider:
Developer’s Approval: Most developers in Dubai have specific terms and conditions regarding the resale of off-plan properties. You would typically need to seek the developer’s approval before selling the property during the construction phase. They may have specific procedures and requirements that need to be followed.
Transfer Fees: When selling an off-plan property, you will be responsible for paying the necessary transfer fees. These fees are typically a percentage of the property’s value and are paid to the Dubai Land Department. It’s important to factor in these costs when considering selling your property.
Market Conditions: The real estate market conditions can influence the demand and saleability of off-plan properties. It’s advisable to assess the market dynamics, such as supply and demand, price trends, and buyer preferences, before deciding to sell your property during the construction phase.
Contractual Obligations: Review the terms and conditions of your purchase agreement with the developer. Ensure that selling the property during the construction phase is not in violation of any contractual obligations or subject to penalties.