10 years payment plan Dubai in 2024
At the moment, buyers have many options available to purchase real estate in Dubai. However, not all of them require full payment to be made immediately. There are alternative ways to purchase real estate in Dubai.
Many local developers provide interest-free installments for up to ten years. Moreover, this offer is also available to foreign citizens. In this article we will tell you how to use this service with the greatest benefit.
Housing by installments in Dubai
Can I buy a home in Dubai if I don’t have the full amount at once? The answer to this question is yes. Developers in Dubai are delighting buyers with an attractive offer: the purchase of real estate under construction with gradual payment of the full cost. This flexible payment option allows you to get the desired housing without a long wait.
10 years payment plan in Dubai looks something like this: first, the buyer pays 10 percent of the property price, then 30 percent, and then another 20 percent. The rest of the amount can be given to the developer after the transfer of ownership of the property. With the help of such a plan, buyers can allocate their own finances efficiently and safely.
It turns out that the cost of real estate will be partially paid with the help of a loan. Mortgages in Dubai banks are also available to non-residents. They can borrow 50 percent of the full amount. But it is worth considering certain nuances. For example, the project must be at least 50% complete and have a minimum expected completion date of two years.
If you want to purchase housing in Dubai that has already been commissioned, you are better off using a different payment plan. A long-term lease agreement with subsequent purchase of housing is concluded between the developer and the buyer. If all the conditions specified in the contract are met, the tenant receives ownership of the property. But with this option, the rental amount will be slightly higher than the average market rate.
The best properties in Dubai that can be purchased in installments
Not all developers in Dubai offer ten-year installments with an extended payment period. Many construction companies require the full cost to be paid over a period of three to five years.
The duration of the payment period is usually set by the developers themselves. It is also influenced by factors such as the type and cost of housing purchased.
We will tell you about the three most attractive real estate properties in Dubai, which can be purchased in installments.
Rukan Residence
If you need an apartment in Dubai in installments, Rukan Residence is an excellent choice. This is a project from a promising and young company LMD. It is located in a prestigious area and will be commissioned by the fourth quarter of 2024.
The complex includes three five-story buildings with a large selection of apartment options. Among them there are both small studios and spacious apartments with several bedrooms. Three-room duplexes are also available, the size of which starts from 132 square meters.
The properties will be provided with full finishing, a set of built-in appliances and luxury furniture. Also, the development plan includes all the amenities: a swimming pool, a sports ground, a children’s playground, a gym and a park.
Belmont Residence
This is a project of one of the largest developers in Dubai – Ellington Properties. It comprises one five-story building housing 68 exquisite properties. Buyers are offered luxurious one- or two-room apartments with turnkey interior finishing. The size of the apartments is from 38 to 143 square meters. The cost of real estate in this complex starts from $167,700.
Peninsula Five
Another interesting project is the Peninsula Five complex from the reputable developer Select Group. This is a building with 36 floors and many apartments, as well as duplexes. The area of real estate in this complex varies from 48 to 439 sq.m.
The apartments have panoramic windows, modern appliances, and comfortable furniture. The interior of the apartments is beautifully decorated. The complex is surrounded by a park with picturesque landscapes, and not far from it is the Dubai Canal with its well-equipped beaches, which gives residents the opportunity to enjoy a delightful waterfront holiday.
The developer offers apartments for sale in Dubai using an installment payment plan convenient for buyers, starting with a 5% booking commission. The payment plan for this property in Dubai is as follows: 35% of the total cost must be paid during the construction period and the remaining 60% after handover. Property prices range from $241,338 to $3,349,217. Construction of the complex is scheduled to be completed in the last quarter of 2024.
The UAE is one of the most hospitable countries for foreign citizens. That is why it is so popular among investors and migrants. The real estate market here is thriving, with the number of transactions increasing every day. The ten-year installment plan is one of the most advantageous offers for those who wish to purchase property in Dubai. Our agency will help you find the most suitable property and purchase it on the best terms.
