Real Estate News in Dubai
If you're looking to buy property in Dubai, you may want to stay on top of the latest real estate news in the city. The past month has been full of new project launches, real estate schemes, and real estate offers. Check out the latest Dubai Property News in Dubai below. You'll find out what's happening in the real estate market. In fact, you can even get updates on the latest developments monthly. This is a good way to stay updated on what's going on in the region.
For instance, one community near the Expo 2020 site is offering a rent-to-own plan that allows tenants to pay for their properties in five years. The plan is available for townhouses and apartments in the new development. The tenants don't have to pay a down payment, and they will make quarterly contributions to the ownership of the property. Upon completion, they can expect to own it. This is great news for those who have been thinking about buying a property in Dubai, and it's a great way to get started.
Another example is Arada's Sarab, which is a community close to the Expo 2020 site. The second phase of the community is set to launch soon, and it will feature townhouses, detached villas, and semi-detached units. Both phased developments will include state-of-the-art facilities, and prices start from AED 1.2 million. The developer is also introducing a new rent-to-own scheme for properties in The Pulse, an apartment complex near the Expo 2020 site. The new plan requires tenants to make quarterly contributions to the property during the 10 years they are renting it.
A recent announcement by the Crown Prince has been welcomed by the real estate industry. The Crown Prince cancelled administrative fines imposed on the renewal of real estate licenses. This package will also boost the economy of Ajman by providing incentives for businesses in foreign trade, tourism, and customs. RAK Properties has announced the completion of 144 luxury apartments in The Pulse. In five years, those who bought the property in the second half of last year would have enjoyed lower rents. Go here to read more in the Zoom Property Blog.
There are other exciting developments that are generating huge interest in the real estate market. A 10-year rent-to-own plan has been introduced in Dubai South. It offers tenants the opportunity to own properties in a 10 year period. While the tenants will not need to pay a down payment, they will make quarterly payments toward the purchase of their new home. After the 10 years, the tenants will have contributed towards the purchase price.
In April, COVID-19 spread throughout the UAE, which has affected the country's property market. As a result, rent relief packages were introduced in the real estate market in Dubai. Several leading UAE real estate companies have announced the availability of a 10-year rent-to-own scheme for a variety of properties. In addition to this, other deals have been launched by wasl Properties. AED 1 billion for a ten-year rent-to-own plan is also available. To get more enlightened on the topic, check out this related post: https://en.wikipedia.org/wiki/Dubai_Properties.