Best and longest payment plans in Dubai
The Dubai real estate market has witnessed exponential progress in recent years. With world-class infrastructure and a robust regulatory framework, it has attracted investors from all over the world. The sector not only promises high ROI on real estate but also favorable and longest payment plans in Dubai that make the property buying experience easier.
Though buying a property in Dubai is extremely beneficial but not everyone is able to make a 100% upfront payment. That’s why several real estate developers have started initiating plans that are not heavy in the pocket and investors can make their payments in installments. Real Estate developers offer comprehensive plans for the ease and convenience of investors through the shortest as well as longest payment plans in Dubai.
Different property types and developers offer different plans for investors to invest in one of the most sought-after real estate markets.
10/90 payment plan in Dubai
It is one of the most aggressive forms of a post-handover payment plan. Developers offer this plan on off-plan properties and it is extremely luring for investors due to no burden of upfront payment involved in the process. As it suggests, property buyers have to pay 10% of the total value of the property to the developer at the time of booking a unit while the rest of 90% can be paid in installments or at the time of handover. The plan is equally favoured by developers as well as property buyers. It is one of the longest payment plans in Dubai that lets the buyer reserve a property in the initial stage of the property launch.
Post-handover payment plan in Dubai
This plan allows the buyer to make the payment after the property is handed over to them. However, they are still required to pay a certain percentage of the amount to reserve the property in their name. Post-handover plans were offered mainly on larger developments but its popularity spread across the region and many developers started taking over advantage of it. Since it is one of the longest payment plans in Dubai, many investors look forward to purchasing a property in Dubai. Several potential buyers reserve the property in their name and rent it out post the handover to make the remaining payment in installments. This offers a greater degree of convenience and ease to the buyer.
This is one of the most popular payment plans in many advanced countries. The rent-to-own payment is targeted toward users who want to own a property and yet find it difficult to make an upfront payment. They choose to forward via one of the longest payment plans in Dubai by acquiring tenancy in the same property for a particular duration. As part of this plan, a tenancy contract is signed between the landlord and tenant for a monthly rent that is higher than the market price. According to this agreement, the tenant becomes the property owner if the payment in terms of rent is paid as agreed. This offers great convenience to buyers by using the down payment amount as rent money and the remaining payment can be financed through banks or private lenders in the form of property or personal loans.
Installments till handover
This is one of the most regular payment plans in Dubai which is divided into specific percentages or ratios. These percentages are decided to be paid at different stages of the duration until the developer handovers the property. For instance, a buyer can pay 70% in installments till the handover and the rest 30% of the payment can be made at the handover stage. This will be called a 30:70 payment plan. This sort of method is also one of the longest payment plans in Dubai and can often be seen in common ratios of 10:90, 70:30, 40:60, etc.
The longest payment plans in Dubai are designed to make it favourable for investors and buyers to buy a property. Considering the prices of the properties, not every property comes with the same payment plan and before making any commitment, it is significant to check with the developer beforehand.