8 Best Payment Plan for Buying a Property in Dubai 2024

Best Payment Plan for Buying a Property in Dubai 2024

When buying a home in Dubai, figuring out the payment plan can be confusing. Explore property payment plans and find the best ones for you. Dubai’s most popular payment plan is the installment plan, which lets customers pay for their property in specified payments. Another popular payment plan in Dubai is post-handover.

Learn about Dubai property payment plans so you can choose the best one. Dubai’s real estate market has possibilities for first-time and seasoned buyers. A portion of the property’s cost can be paid in installments over months or years using this payment plan. Spreading payments simplifies home ownership. Developers may cancel registration fees, negotiate post-handover payment arrangements, or offer buyers more flexible payment schedules to meet financial needs.

Different Types of Payment Plans in Dubai

All famous developers provide several payment plans to help homebuyers. Dubai developers offer several payment plans, which attract buyers to buy their desired property in Dubai.

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In Dubai, usually the post-handover payment plans are used in the real estate sector. After transferring the property, payments begin in installments over 3–10 years. The investor must pay a fixed percentage of the property’s worth before obtaining it. By renting the property, investors can utilize the rental return to make payments, and end users can live in their homes without paying the total cost.

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The 10/90 plan asks investors to pay 10% of the property value to buy it. After the transfer, they must pay 90% of the property value in stages agreed upon by both parties. Many prefer this payment plan since it lets investors add the property to their portfolio while paying.

During Construction And On Handover 

This payment plan has two stages: construction and handover. Developers often offer this payment plan during development, allowing clients to make installments before receiving their keys. Clients could also get a mortgage to settle the balance. Property owners would pay the bank in installments rather than the developer. 

During Construction And On Handover 

1% Payment Plan

The 1% payment plan lets you buy a Dubai residence for a 1% monthly installment. This means no large upfront payment, heavy interest rates, or fees. You pay 1% monthly until you own the property 100%. When you acquire a million-dollar house, you may have to pay 10k dirham every month for 100 months or eight years. Better than 25% (AED 250,000) and 3% (AED 3,735) on a 25-year mortgage. This is one of the best payment plan for buying a property in Dubai because of this convenience as it provide easiness for buyers to pay less monthly installments which may not affect their budgets.

Standard Payment 

The standard payment plan requires buyers to pay a part of the property’s price. This initial payment guarantees their real estate investment of 10% to 30% of the property’s value. After this initial commitment, the rest is paid in installments. These installments are spaced out during the building. Buyers can put down a lesser down payment and pay the rest in installments. Buyers can spend progressively with installments that match building milestones. Longer payment schedules following property completion help purchasers manage money.

Deferred Payment 

A deferred payment plan lets buyers buy property. This plan makes property buying more affordable for low-income people. Because much of the property’s cost is delayed, buyers can better manage their finances and leverage future earnings. Developers offer favorable payment terms for years after handover.

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Down Payment 

Dubai off-plan properties require a down payment, typically 10% to 20% of the property’s worth. Luxury houses and project developers may require a greater down payment. The down payment is crucial when choosing a Dubai property payment plan. A better down payment can cut monthly payments, interest rates, and house equity from the start. Purchasers can demonstrate financial stability and commitment to the home by paying a hefty purchase price upfront. This can help them secure good finance and developer deals.


Down Payment 

Escrow Accounts

While buying any property, you must transfer funds into an escrow account. Escrow account information is available on the land development page. Escrow accounts are third-party bank accounts that are not developer-controlled. This account restricts funding to project development. Do your research before buying a Dubai home. 

Final Thoughts

The above payment plans benefit investors and purchasers in the Dubai real estate market, where prices are high. Buyers can choose a plan that fits their finances and post-handover plans and may not need a bank. However, not all Dubai projects or properties have the same payment plan, so you must investigate which project you prefer and if they provide a payment plan.

To own a home in Dubai, you need the best payment plan. The benefits and cons of traditional mortgages and developer installment programs must be considered. Your budget, long-term goals, and risk tolerance should guide your choice. Remember, a payment plan that fits your budget, lifestyle, and aspirations will provide you peace of mind and financial security on this beautiful adventure. So, guys if you are interested for buying property in Dubai then contact Fajar Realty now, and get luxurious properties in Dubai on affordable payment plans.

About CEO

Kiran Nadeem Khawaja

Ms Kiran Khawaja (CEO of Fajar Realty) is one top businesswomen in the UAE real estate market. She started her career in 2007 and during her 17+ years career, she has won many national and international prestigious awards including Top Female CEO Award, is the most recent one. Her dedication and consistency in her work made her stand out from her competitors. Due to her diversified and successful career Gulf News and Khaleej Times has covered her success story to motivate youth.

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