Non-UAE residents can get a mortgage from lenders operating in the UAE. For Non-UAE residents, there are some restrictions. The UAE Mortgage Cap law needs non-UAE residents to make a down payment of 25% at least, of the property of value (20% for UAE nationals) plus associated purchase costs. This percent goes up to 35% (30% for UAE nationals) also costs for properties above AED 5 million. And if you are buying a second or third property, as an investment, for example, you will need at least 40% of the property value to cover your down payment.
To buy an off-plan property in Dubai, location plays a vital role as landing an apartment or villa in an affordable neighborhood is in the priority list for many in Dubai. Areas like Akoya Oxygen, Mohamed Bin Rashid (MBR) city; Jumeirah Village Circle (JVC), Dubai South, Palm Jumeirah, Downtown Dubai, Jumeirah Lake Towers, Dubai Hills Estate and Dubailand are offering the luxurious off plan properties in Dubai with high-class amenities and the location benefits.
Maybe. Employment and residency visas are not always linked to the ownership of the property. May be in some cases they are but your contract and all immigration regulations should be proper. We would be happy to help you better understand your unique circumstances and whether you are eligible.
The maximum loan during the construction period is 50% and off-plan properties are typically cheaper than ready properties. When you pay 50% of the purchase price, it is preapproved at the time of application and is guaranteed to be paid off at completion, regardless of the individual’s financial situation. You can even take 25% to 30% cash as only when you have paid 50% for an off plan property. If the property during construction has increased in value, you can borrow 75% to 80% of the property value and withdraw more cash out.
Real Estate Regulatory Agency (RERA) is the regulatory arm of DLD that regulates the real estate sector in Dubai. It handles the relationship between all contracting parties and organizes the properties’ exchange process.
· Plan and save money – It allows investors to get purchase at the earliest and lowest possible price and buyers to pick the very best apartments in a specific development
· Sell before the completion date – Investors can sell off their off-plan property contracts prior to the completion of the projects and at a considerable profit (assuming the market is well-performed and proved popular.
· Lower up Front Costs – Off plan property, payment plans can and do vary from different types of developers in Dubai. Some of the developers only require a 10% down payment and the rest linked to constructions the required expenditure is relatively low.
The information set forth on this site is based upon information which we consider reliable, but because it has been supplied by third parties to us, we can not represent that it is accurate or complete, and it should not be relied upon as such. The offerings are subject to errors, omissions, changes, including price, or withdrawal without notice.
All dimensions are approximate and have not been verified by the selling party and can not be verified by offplandeal.com. It is recommended that you hire a professional in the business of determining dimensions, such as an appraiser, architect or civil engineer, to determine such information.
offplandeal.com fully supports the principles and rules of RERA
www.offplandeal.com is a property of Capri Realty Real Estate Brokers LLC.