Sales in Progress
The days of the mid-day pre-launch sell-out of property are over, almost. While there are still occasions when a project due to limited supply or low-starting prices quickly sells out, the more common scenario is that properties remain on market for a year or longer, and even up to the date of completion.
This is good for the buyer, indicating there is both more choice and more time to decide. Such is the case with the MAG 218. This property is still available. That being said, one should bear in mind that one advantage to off-plan buying is that one in fact has the option to choose his preferred unit. This is important when one considers that not only prices vary from unit to unit, but there are other key factors like views, floor plans, placement within the tower, etc. that can make one unit better for an individual than another.
Delay purchasing until after or near the completion date and what is left to choose will be perhaps the higher priced units or those with less desirable views. While buying off-plan has the disadvantage of forcing long waits on non-income generating investments, it gives the buyer the almost invaluable option of choice.
The MAG 218, over a year past launch, is more than 70% sold out. There is still opportunity for the buyer to have limited choice of unit. There is little variety in floor-plans among the two unit types, 1-bedroom and 2-bedroom, and entrances to all units are within short distance from the elevators on each floor, making placement in the tower a less important issue. Therefore, one of the key remaining points of variation is views. Potential buyers may want to take what remains of the opportunity to secure a preferred view—whether SW facing the Dubai Marina canal, NW in the direction of the sea, NE toward the Burj Al Arab and Dubai city or SE overlooking the SZR expressway, golf grounds and villa developments.
One more important variable is price—lower at lower elevations—varying more than Dhs 200,000 for identical floor plans with the only difference being height. The first residential floor will start above the podium at about 5 stories above ground, while the top floor (fifty-five) will be at the top of the tower at about 63 stories above ground level. Thirty percent of 550 units being still available means that there are over 150 units to choose from. So, there is still a considerable amount of choice for the buyer.
See Purchasing a Unit in the MAG 218 Tower for more detail about the tower, views, location, etc.
This is good for the buyer, indicating there is both more choice and more time to decide. Such is the case with the MAG 218. This property is still available. That being said, one should bear in mind that one advantage to off-plan buying is that one in fact has the option to choose his preferred unit. This is important when one considers that not only prices vary from unit to unit, but there are other key factors like views, floor plans, placement within the tower, etc. that can make one unit better for an individual than another.
Delay purchasing until after or near the completion date and what is left to choose will be perhaps the higher priced units or those with less desirable views. While buying off-plan has the disadvantage of forcing long waits on non-income generating investments, it gives the buyer the almost invaluable option of choice.
The MAG 218, over a year past launch, is more than 70% sold out. There is still opportunity for the buyer to have limited choice of unit. There is little variety in floor-plans among the two unit types, 1-bedroom and 2-bedroom, and entrances to all units are within short distance from the elevators on each floor, making placement in the tower a less important issue. Therefore, one of the key remaining points of variation is views. Potential buyers may want to take what remains of the opportunity to secure a preferred view—whether SW facing the Dubai Marina canal, NW in the direction of the sea, NE toward the Burj Al Arab and Dubai city or SE overlooking the SZR expressway, golf grounds and villa developments.
One more important variable is price—lower at lower elevations—varying more than Dhs 200,000 for identical floor plans with the only difference being height. The first residential floor will start above the podium at about 5 stories above ground, while the top floor (fifty-five) will be at the top of the tower at about 63 stories above ground level. Thirty percent of 550 units being still available means that there are over 150 units to choose from. So, there is still a considerable amount of choice for the buyer.
See Purchasing a Unit in the MAG 218 Tower for more detail about the tower, views, location, etc.
posted by B.D. at
11:01 AM
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