Want to buy real estate in Salalah, Oman? Write us on WhatsApp and Real Estate Group will find the best options for you. Everyone buys from us!
Chapter 2: How to buy luxury properties under construction in Salalah, Oman for living.
Buying a property in Salalah, Oman, for living can be a rewarding and fulfilling experience, as you can enjoy the unique and attractive lifestyle that the city offers. However, buying a property, especially one that is under construction, can also be a complex and challenging process, as there are many legal, financial, and market aspects to consider. Therefore, it is advisable to seek the help of a professional and reliable real estate agency that can guide you through the whole process and handle any issues that may arise.
A real estate agency is a company or an individual that acts as an intermediary between buyers and sellers of properties. A real estate agency can provide a range of services, such as property search, valuation, negotiation, contract, payment, transfer, registration, visa, and after-sales support. A real estate agency can also help you with different investment strategies, such as selling or renting out your property after completion of construction, depending on your goals and preferences.
However, not all real estate agencies are the same, and choosing the right one can make a big difference in your experience and outcome. Therefore, when choosing a luxury real estate agency in Salalah, Oman to buy a luxury apartment, house or villa under construction in 2024, Real Estate Group asks you to consider the following factors:
1. Research: Before you contact any agency, you should do some research on the market, the areas, the prices, and the legal aspects of buying property in Oman. You can use online platforms, to get some information and compare different options. You can also read some articles, blogs, reviews, and testimonials from other buyers and investors who have bought property in Oman before.
2. Reputation: You should look for an agency that has a good reputation, experience, and track record in the market. You can check their website, social media, reviews, testimonials, and awards to get an idea of their quality and credibility. You can also ask for referrals from friends, relatives, or colleagues who have bought property in Oman before. You should avoid any agency that has a history of complaints, disputes, or lawsuits from their clients or partners.
3. Services: You should look for an agency that offers a range of services, from property search to after-sales support. You should also look for an agency that has a professional and qualified team, including agents, lawyers, accountants, and consultants, who can guide you through the whole process and handle any issues that may arise. You should also look for an agency that can help you with different investment strategies, such as selling or renting out your property after completion of construction, depending on your goals and preferences.
4. Fees: You should look for an agency that charges reasonable and transparent fees, and does not have any hidden or extra costs. You should also look for an agency that works on a commission basis, meaning that they only get paid when the deal is closed. You should avoid any agency that asks for upfront or non-refundable payments, or that has a conflict of interest with the seller or the developer.
In conclusion, choosing a luxury real estate agency in Salalah, Oman, to buy a luxury apartment, house or villa under construction in 2024 can be a crucial step in your journey of buying a property for living. A good agency can provide you with valuable information, advice, and support, and help you achieve your goals and preferences. Therefore, you should consider the factors and criteria that are important to you, such as research, reputation, services, and fees, and do some comparison and evaluation on the different options and agencies. You should also seek independent legal and financial advice before making any decision.
In the next chapter, Real Estate Group will explain how to buy a luxury property under construction in Salalah, Oman to sell after completion, including the buying process, legal and financial aspects, as well as tips and advice.
Chapter 3: How to buy luxury properties under construction in Salalah, Oman for selling after completion.
Buying a property in Salalah, Oman, for selling after completion can be a profitable and rewarding investment, as you can benefit from the appreciation and capital gains of the property. However, buying a property, especially one that is under construction, can also be a risky and challenging investment, as there are many legal, financial, and market aspects to consider. Therefore, it is advisable to choose a property that has a high potential for appreciation and demand, and that meets the needs and preferences of the target market.
One of the most important factors to consider is the type of property that suits your investment strategy, such as villa, apartment, or hotel. Each type has its own advantages and disadvantages, such as size, design, amenities, location, price, demand, supply, maintenance, and appreciation. In this chapter, Real Estate Group will examine some of the most popular and promising types of luxury real estate under construction in Salalah, Oman, for sale upon completion. Real Estate Group will also provide some examples of the cost and profit of each type based on current market trends and forecasts.
Villa
A villa is a detached or semi-detached house that usually has a large plot of land, a private garden, a swimming pool, and a garage. A villa is ideal for families or groups who value privacy, space, and comfort. A villa is also suitable for investors who want to sell the property to high-end buyers or rent it out to tourists or expats.
- Advantages:
- Privacy and exclusivity
- Space and comfort
- High-end market and buyers
- High rental income and occupancy from tourists and expats
- Potential appreciation and capital gains
- Disadvantages:
- High purchase and maintenance costs
- Limited supply and availability
- Distance from the city center and other facilities
- Environmental and weather risks
- Legal and financial complexities
- Cost and profit examples:
- A 3-bedroom villa in Shaza Salalah, a luxury beach resort, costs around OMR 300,000 (US$ 778,000) to buy and OMR 350,000 (US$ 907,000) to sell, with a profit of OMR 50,000 (US$ 129,000) and a capital gains tax of OMR 5,000 (US$ 12,900).
- A 4-bedroom villa in Mysk by Shaza, a hotel apartment complex, costs around OMR 450,000 (US$ 1,167,000) to buy and OMR 550,000 (US$ 1,425,000) to sell, with a profit of OMR 100,000 (US$ 259,000) and a capital gains tax of OMR 10,000 (US$ 25,900).
Apartment
An apartment is a unit in a building that usually has a shared entrance, hallway, elevator, and parking. An apartment is ideal for singles or couples who value convenience, affordability, and accessibility. An apartment is also suitable for investors who want to sell the property to middle-income buyers or rent it out to locals or expats.
- Advantages:
- Convenience and affordability
- Accessibility and availability
- Proximity to the city center and other facilities
- High demand and rental income from locals and expats
- Easy and flexible purchase and transfer process
- Disadvantages:
- Lack of privacy and exclusivity
- Limited space and comfort
- Low-end market and buyers
- Low appreciation and capital gains potential
- Competition and oversupply
- Cost and profit examples:
- A 2-bedroom apartment in Amazi, a new waterfront residential resort project, costs around OMR 150,000 (US$ 389,000) to buy and OMR 180,000 (US$ 466,000) to sell, with a profit of OMR 30,000 (US$ 77,700) and a capital gains tax of OMR 3,000 (US$ 7,770).
- A 2-bedroom apartment in Al Jadidah Street, a commercial and residential area, costs around OMR 40,000 (US$ 104,000) to buy and OMR 50,000 (US$ 129,000) to sell, with a profit of OMR 10,000 (US$ 25,900) and a capital gains tax of OMR 1,000 (US$ 2,590).
Hotel
A hotel is a building that offers accommodation, food, and other services to guests. A hotel is ideal for investors who want to benefit from the tourism industry and the hotel management. A hotel is also suitable for investors who want to sell the property to other investors or hotel operators.
- Advantages:
- High demand and occupancy from tourists
- High rental income and return from the hotel management
- Access to hotel resort-like amenities and services
- Freehold ownership and residency for foreigners
- Potential appreciation and capital gains
- Disadvantages:
- High purchase and maintenance costs
- Limited supply and availability
- Distance from the city center and other facilities
- Strict rules and regulations from the developers and hotels
- Dependency and risk from the hotel performance and reputation
- Cost and profit examples:
- A hotel room in Shaza Salalah, a luxury beach resort, costs around OMR 100,000 (US$ 259,000) to buy and OMR 120,000 (US$ 311,000) to sell, with a profit of OMR 20,000 (US$ 51,800) and a capital gains tax of OMR 2,000 (US$ 5,180).
- A hotel suite in Mysk by Shaza, a hotel apartment complex, costs around OMR 200,000 (US$ 518,000) to buy and OMR 250,000 (US$ 648,000) to sell, with a profit of OMR 50,000 (US$ 129,000) and a capital gains tax of OMR 5,000 (US$ 12,900).
Want to buy real estate in Salalah, Oman? Write us on WhatsApp and Real Estate Group will find the best options for you. Everyone buys from us!
In conclusion, choosing a type of luxury property under construction in Salalah, Oman, for selling after completion can be a crucial step in your investment strategy. A good property can provide you with a high potential for appreciation and demand, and meet the needs and preferences of the target market.
Therefore, you should consider the factors and criteria that are important to you, such as size, design, amenities, location, price, demand, supply, maintenance, appreciation, ownership, residency, taxes, fees, etc. You should also do some research and comparison on the different types and projects, such as online platforms, agents, brokers, etc. You should also seek independent legal and financial advice before making any decision.
In the next chapter, Real Estate Group will explain how to buy a luxury property under construction in Salalah, Oman to rent out after completion, including the buying process, legal and financial aspects, as well as tips and advice.
