Dubai developers offer heavy incentives to buyers
Lucrative incentives, innovative payment plans and freebees are tempting investors and tenants to own a home in Dubai as developers are going the extra mile to dispose of unsold stock ahead of potential upcoming supply of over 50,000 homes this year.
Developers in Dubai are pulling out all the stops to win over buyers for newly launched and existing projects by extending post-handover payment plans on off-plan properties to ready homes as well as arranging bank financing for initial down payment of the property.
Extended post-handover payment plans from three years to anything up to 15 to 20 years, rent-to-own schemes and guaranteed rental returns are now the industry norm as the developers get creative to compete with other investment markets.
Experts and analysts said it is a win-win situation for both developers and buyers as Dubai real estate market enters into a maturity phase and shows stability despite more than 27 per cent decline in prices since the peak of mid-2014.