Dubai: For those Dubai resident-tenants thinking of when they should buy a home for their own use, that time could well be happening now. Especially those residents who lay great emphasis on selecting more affordable options.
In recent weeks, private developers in Dubai have provided options for such investors with 0.5% monthly payment schemes (after a certain down payment). There have also been limited-time offers by a handful of developers even offering zero down payment schemes. Other developers have focused on extended payment terms, especially after the handover. There are multiple offplan buying options offering up to 10-year payment terms.
Now, developers are mixing the best of both offers.
But as 2025 draws closer, the signs are there for a new offer benchmark on an offplan property purchase, with a leading developer offering deals on 0.5% monthly payments extending over a 10-year period. Others could soon follow suit, because it offers potential buyers the extra levels of flexibility on both what they need to pay each month and the time they need to pay it off.
Helping the cash flow of potential buyers is the new ‘affordability’ factor that can spur property sales in Dubai
Other UAE real estate news:
The Al Ahli Bank of Kuwait has acquired the rights to be an escrow account trustee in Dubai’s property market. This makes it the first Kuwaiti bank to offer this service in the UAE. The escrow account service enables developers to collect funds from buyers of offplan property, or from project financiers to a designated escrow account with the bank. “It ensures the financial transactions of off-plan projects are regulated by depositing funds collected from buyers or financiers into a dedicated bank account for each project,” said Mohammed Ali Al-Badwawi, acting CEO of RERA.
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