Dubai developers today offer the most favorable home purchase off-plan schemes in the world: only here you can just pay 5% of the property cost as the installment and then pay the rest in six years, which is unprecedented for the off-plan real estate market.
Here are some examples of this developers’ unseen generosity. UAE capital property developer Aldar Properties offers its customers apartments in Meera Shams residential complex on Reem Island in the UAE capital Abu Dhabi, and requires only 10% as an installment payment, while 70% can be paid upon the completion. A similar approach is applied by Danube Properties offering property for sale in its Glitz3 project in Dubai: this developer also asks only 10% as an initial payment, while another 15% of the property cost can be paid within 2 months, and the remaining amount — upon the completion with a 1% monthly commission.
But these proposals can’t be regarded as truly generous at the background of affordable housing in Mohammed Bin Rashid City in Dubai offered by local developer G & Co. This company offers its customers villas in the Jade at the Fields complex under a completely unique off-plan sales scheme. In total, buyers have six years to pay for their homes after the actual purchase, with an installment payment of only 5% of the total cost, while 6 percent should be paid every six months during next three years, and another 15% — upon completion. And another half of the property cost is paid by buyer in three next years after completion.
Such a strategy adopted by Dubai developers in relation to the off-plan property allows to draw real end users into the sector, those, who do not have the entire amount at once to buy a property, so the whole initiative will positively affect the development of real estate market in the UAE, experts claim.